Liberalization, Technology Adoption, and Stock Returns: Evidence from Telecom

The paper investigates the pace of technology adoption in telecom technology post liberalization and its effect on stock returns using a new global panel data set. The results are twofold. First, the evidence points to the complementarity between telecom liberalization and regulatory independence in...

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Bibliographic Details
Main Author: Arezki, Rabah (Author)
Format: Electronic eBook
Language:English
Published: Washington, D.C The World Bank 2021
Online Access:Volltext
Summary:The paper investigates the pace of technology adoption in telecom technology post liberalization and its effect on stock returns using a new global panel data set. The results are twofold. First, the evidence points to the complementarity between telecom liberalization and regulatory independence in driving a sustained pace of technology adoption. Second, the results show a positive and economically significant effect of telecom adoption on stock returns, pointing to significant spillovers of telecom to the rest of the economy
Physical Description:1 Online-Ressource (66 Seiten)
DOI:10.1596/1813-9450-9561