This paper considers the role of country-level opacity (the lack of availability of information) in amplifying shocks emanating from financial centers. We provi

This paper considers the role of country-level opacity (the lack of availability of information) in amplifying shocks emanating from financial centers. We provi

This paper considers the role of country-level opacity (the lack of availability of information) in amplifying shocks emanating from financial centers. We provi

We find that data transparency policy reforms, reflected in subscriptions to the IMF’s Data Standards Initiatives (SDDS and GDDS), reduce the spreads of emerg