Petty corruption was long thought to grease the wheels of business. But economists are learning how much it can hold back some companies and local economies.
Regulation can increase confidence in financial markets.
In some cases, the costs of increased transparency outweigh the benefits.
The benefits of financial-market regulation depend in part on a country's prior regulatory history.
The principles of transparency and disclosure are visible everywhere from fast-food menus to financial regulation. But if lawmakers don’t consider the behavior of both markets and consumers, better information may not translate to smarter shoppers.