Release on 1998-02-03 | by Mr. George Kopits,Mr. J. D. Craig
Author: Mr. George Kopits,Mr. J. D. Craig
Pubpsher: International Monetary Fund
Category: Business & Economics
Transparency in government operations is widely regarded as an important precondition for macroeconomic fiscal sustainability, good governance, and overall fiscal rectitude. Notably, the Interim Committee, at its April and September 1996 meetings, stressed the need for greater fiscal transparency. Prompted by these concerns, this paper represents a first attempt to address many of the aspects of transparency in government operations. It provides an overview of major issues in fiscal transparency and examines the IMF's role in promoting transparency in government operations.
Release on 2008-01-01 | by Christina Garsten,Monica Lindh De Montoya
Unveiling Organizational Visions
Author: Christina Garsten,Monica Lindh De Montoya
Pubpsher: Edward Elgar Publishing
Category: Political Science
This book argues that transparency is a concept that has gained increasing currency and favour as an organizing principle and administrative goal in recent years. Calls for transparency have been directed towards states, markets, corporations and national political processes as well as towards large institutions such as the European Union. Focusing on empirically rich case studies, the contributors explore the ideas and practices of transparency in different contexts, encouraging a discussion of the many facets of the term and its strengths, ambiguities and limitations. They aim to shed light on the powerful global discourse and practices contained in the concept, and to fill a gap in the literature since few attempts have, until now, been made to examine the actual content and practice of transparency. Also discussed are the complex negotiations through which it is determined what should be displayed and what should remain hidden, the uses of power and control, and the processes through which transparency is, or is not, achieved. This analysis of the concepts, models and metaphors that guide and shape organizational, social and aesthetical practices today will provide a much-needed contribution to the literature for academics, researchers and students focusing on these areas.
The IMF's development of the Code of Good Practices on Transparency in Monetary and Financial Policies and the introduction of safeguards assessments have increased emphasis on transparency of the disclosures made in central bank financial statements. This paper, which updates WP/00/186, looks at the disclosure requirements for central banks under International Financial Reporting Standards and provides practical guidance for those responsible for preparing central bank financial statements.
In Transparency, the authors–a powerhouse trio in the field of leadership–look at what conspires against "a culture of candor" in organizations to create disastrous results, and suggest ways that leaders can achieve healthy and honest openness. They explore the lightning-rod concept of "transparency"–which has fast become the buzzword not only in business and corporate settings but in government and the social sector as well. Together Bennis, Goleman, and O'Toole explore why the containment of truth is the dearest held value of far too many organizations and suggest practical ways that organizations, their leaders, their members, and their boards can achieve openness. After years of dedicating themselves to research and theory, at first separately, and now jointly, these three leadership giants reveal the multifaceted importance of candor and show what promotes transparency and what hinders it. They describe how leaders often stymie the flow of information and the structural impediments that keep information from getting where it needs to go. This vital resource is written for any organization–business, government, and nonprofit–that must achieve a culture of candor, truth, and transparency.
'Transparency' has in recent years become a buzzword in the economic-political debate about prospects for economic growth in general and for Europe in particular. A number of events, trends, and developments - for example the East-Asian financial crisis, a series of corporate governance scandals in the United States and in Europe, the introduction of the euro as a common currency in part of the European Union, a global trend toward politically independent central banks, growing attention to environmental issues, and attempts to reform the governance structures of supranational and multilateral organizations such as the EU and the UN - have made transparency an issue of highest concern. However, the long and winding road leading from improved transparency in Europe to increased economic growth in the region has never been mapped out in a coherent way. The reason is simply that the causal chain from transparency to growth needs to be discussed in a comprehensive, interdisciplinary way, incorporating different research areas and traditions - from accounting to economics and political science. This book attempts to bridge that gap in current literature. What is 'transparency'? Are there different kinds of it? What does it do? How much of it do we need, and for what purpose? In this book, the purpose of transparency is assumed ultimately to be higher rates of economic growth, and so the analyses in the different chapters take an 'instrumental' view of transparency, where the relevant question is whether increased transparency leads to more efficient resource allocation. The chapters address transparency in different markets and at different levels: from corporate financial disclosure to lobbying; from the risk incentives facing banks to competition and environmental policies. The book raises important questions and delivers a wealth of insights which will be of great use to a wide spectrum of audiences, including researchers and students on the one hand and policy makers, bureaucrats, and finance and investment professionals on the other. The Editor Lars Oxelheim holds a chair in International Business and Finance at Lund University, Lund and is an affiliate of the Research Institute of Industrial Economics (IUI), Stockholm and of the Fudan University, Shanghai. His current research focuses on the implications of macroeconomic disturbances for corporate performance and issues related to economic and financial integration. He has published some 25 books and numerous articles in the areas of international business and finance, corporate finance and corporate governance. Among his recent monographs are Money Markets and Politics: A Study of European Financial Integration and Monetary Policy Options (Cheltenham: Edward Elgar, 2003) (with Jens Forssbaeck), European Union and the Race for Foreign Direct Investment in Europe (Oxford: Elsevier, 2004) (co-edited/authored with Pervez Ghauri) and Corporate Performance and the Exposure to Macroeconomic Fluctuations (Stockholm: Norstedts Academic Publishers, 2005) (with Clas Wihlborg).
This paper develops indices of fiscal transparency for a broad range of countries based on the IMF's Code of Good Practices on Fiscal Transparency, using data derived from published fiscal transparency modules of the Reports on the Observance of Standards and Codes (ROSCs). The indices covers four clusters of fiscal transparency practices: data assurances, medium-term budgeting, budget execution reporting, and fiscal risk disclosures. More transparent countries are shown to have better credit ratings, better fiscal discipline, and less corruption, after controlling for other socioeconomic variables.
Release on 2006-01-01 | by Burkart Holzner,Leslie Holzner
The Vanguard of the Open Society
Author: Burkart Holzner,Leslie Holzner
Pubpsher: University of Pittsburgh Pre
Category: Social Science
An examination of the quest for information exchange in an increasingly international, open society, Transparency in Global Change discusses the reasons for the recent increase in public desire for transparency and the byproducts this transparency can produce.
Release on 2002-10-01 | by Gaston Gelos,Shang-Jin Wei
Author: Gaston Gelos,Shang-Jin Wei
Pubpsher: International Monetary Fund
Does country "transparency" affect international portfolio investment? We examine this and related questions using a unique micro dataset on international portfolio holdings. We employ various indices of government and corporate transparency, focusing on the availability and quality of information. We find that emerging market equity funds hold fewer assets in less transparent countries. Herding among funds is somewhat less prevalent in more transparent countries. During the Asian and Russian crises, emerging market funds withdrew more strongly from less transparent countries after controlling for other risk factors. However, funds tend to react less strongly to news from more opaque markets.
Release on 2003-04-17 | by Harry G. West,Todd Sanders
Ethnographies of Suspicion in the New World Order
Author: Harry G. West,Todd Sanders
Pubpsher: Duke University Press
Category: Social Science
Transparency has, in recent years, become a watchword for good governance. Policymakers and analysts alike evaluate political and economic institutions—courts, corporations, nation-states—according to the transparency of their operating procedures. With the dawn of the New World Order and the “mutual veil dropping” of the post–Cold War era, many have asserted that power in our contemporary world is more transparent than ever. Yet from the perspective of the relatively less privileged, the operation of power often appears opaque and unpredictable. Through vivid ethnographic analyses, Transparency and Conspiracy examines a vast range of expressions of the popular suspicion of power—including forms of shamanism, sorcery, conspiracy theory, and urban legends—illuminating them as ways of making sense of the world in the midst of tumultuous and uneven processes of modernization. In this collection leading anthropologists reveal the variations and commonalities in conspiratorial thinking or occult cosmologies around the globe—in Korea, Tanzania, Mozambique, New York City, Indonesia, Mongolia, Nigeria, and Orange County, California. The contributors chronicle how people express profound suspicions of the United Nations, the state, political parties, police, courts, international financial institutions, banks, traders and shopkeepers, media, churches, intellectuals, and the wealthy. Rather than focusing on the veracity of these convictions, Transparency and Conspiracy investigates who believes what and why. It makes a compelling argument against the dismissal of conspiracy theories and occult cosmologies as antimodern, irrational oversimplifications, showing how these beliefs render the world more complex by calling attention to its contradictions and proposing alternative ways of understanding it. Contributors. Misty Bastian, Karen McCarthy Brown, Jean Comaroff, John Comaroff, Susan Harding, Daniel Hellinger, Caroline Humphrey, Laurel Kendall, Todd Sanders, Albert Schrauwers, Kathleen Stewart, Harry G. West