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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| Other Authors: | , , |
| Format: | eBook |
| Language: | English |
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Washington, D.C
The World Bank
2021
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| Online Access: | |
| Collection: | World Bank E-Library Archive - Collection details see MPG.ReNa |
| 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 |
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| Physical Description: | 66 pages |