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Extractive Industries Transparency Initiative
The Extractive Industries Transparency Initiative (EITI) is a Norwegian-based organization that seeks to establish a global standard for the good governance of oil, gas and mineral resources. It seeks to address the key governance issues in the extractive sectors. The EITI Standard requires information along the extractive industry value chain from the point of extraction, to how the revenue makes its way through the government and its contribution to the economy. This includes how licenses and contracts are allocated and registered, who the beneficial owners of those operations are, what the fiscal and legal arrangements are, how much is produced, how much is paid, where the revenue is allocated, and its contributions to the economy, including employment. The Extractive Industries Transparency Initiative#Impact of the EITI, EITI Standard is implemented in 55 countries around the world. Each of these countries is required to publish an annual EITI Report to disclosing informatio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Transparency (market)
In economics, a market is transparent if much is known by many about: What products and services or capital assets are supply (economics), available, market depth (quantity available), what price, and where. Transparency is important since it is one of the theoretical conditions required for a free market to be Efficient-market hypothesis, efficient. Price transparency can, however, lead to higher prices. For example, if it makes sellers reluctant to give steep discounts to certain buyers (e.g. disrupting price dispersion among buyers), or if it facilitates collusion, and price volatility (finance), volatility is another concern. A high degree of market transparency can result in disintermediation due to the buyer's increased knowledge of supply pricing. There are two types of price transparency: 1) I know what price will be charged to me, and 2) I know what price will be charged to you. The two types of price transparency have different implications for differential pricing. A tra ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
