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The Institutional Environment for Telecommunications Investment

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Author Info
Witold J. Henisz
Bennet A. Zelner

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Abstract

This paper demonstrates that a structurally derived, internationally comparable index of checks and balances on executive discretion created by variation in political structures and party systems affects relative rates of basic telecommunications infrastructure deployment in 147 countries during the period 1960-1994. Models of infrastructure investment that omit the political characteristics of a prospective host country confound countries whose economic and demographic characteristics point to rapid demand growth for infrastructure services with those that create a potential trap for investors due to a higher probability of arbitrary change in the policy environment. The econometric analysis exploits both cross-sectional and temporal variation in the panel. A robust covariance-matrix estimator based on that developed by Newey and West is used to compute valid standard errors in the presence of heteroskedasticity and within unit-serial correlation, two common characteristics in the error-term structure of panel datasets. Copyright (c) 2001 Massachusetts Institute of Technology.

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Publisher Info
Article provided by Blackwell Publishing in its journal Journal of Economics & Management Strategy.

Volume (Year): 10 (2001)
Issue (Month): 1 (03)
Pages: 123-147
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Handle: RePEc:bla:jemstr:v:10:y:2001:i:1:p:123-147

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  3. Yin-Fang Zhang & David Parker & Colin Kirkpatrick, 2008. "Electricity sector reform in developing countries: an econometric assessment of the effects of privatization, competition and regulation," Journal of Regulatory Economics, Springer, vol. 33(2), pages 159-178, April. [Downloadable!] (restricted)
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  4. Gual, Jordi & Trillas, Francesc, 2006. "Telecommunications policies: Measurement and determinants," IESE Research Papers D/630, IESE Business School. [Downloadable!]
  5. De Figueiredo, John M. & De Figueiredo, Rui J. P. Jr., 2002. "Managerial Decision-Making in Non-Market Environments: A Survey Experiment," Working papers 4246-02, Massachusetts Institute of Technology (MIT), Sloan School of Management. [Downloadable!]
  6. Federica Maiorano & Jon Stern, 2007. "Institutions and Infrastructure Investment in Low and Middle-Income Countries: The Case of Mobile Communications," City University Economics Discussion Papers 07/06, Department of Economics, City University, London. [Downloadable!]
  7. Gual, Jordi & Trillas, Francesc, 2003. "Telecommunications policies: Determinants and impact," IESE Research Papers D/510, IESE Business School. [Downloadable!]
  8. Nathan M Jensen, 2005. "Measuring Risk: Political Risk Insurance Premiums and Domestic Political Institutions," International Finance 0512002, EconWPA. [Downloadable!]
  9. Paul de Bijl, 2005. "Structural Separation and Access in Telecommunications Markets," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
  10. Joseph A. Clougherty & Michal Grajek, 2006. "The Impact of ISO 9000 Diffusion on Trade and FDI: A New Institutional Analysis," Discussion Papers 179, SFB/TR 15 Governance and the Efficiency of Economic Systems, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich. [Downloadable!]
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  11. Dino Falaschetti, 2004. "Can Voting Reduce Welfare? Evidence from the US Telecommunications Sector," Public Economics 0401006, EconWPA. [Downloadable!]
  12. Joseph A. Clougherty, 2004. "Antitrust Holdup Source, Cross-National Institutional Variation, and Corporate Political Strategy Implications for Domestic Mergers in a Global Context," CIG Working Papers SP II 2004-09, Wissenschaftszentrum Berlin (WZB), Research Unit: Competition and Innovation (CIG). [Downloadable!]
  13. Francesc Trillas & Miguel Angel Montoya, 2008. "The degree of commitment to regulator independence: measurement and impact," Hacienda Pública Española, IEF, vol. 185(2), pages 89-114, July. [Downloadable!]
  14. Dino Falaschetti, 2004. "Can Voting Reduce Welfare? Evidence from the US Telecommunications Sector," Public Economics 0401009, EconWPA. [Downloadable!]
  15. Jordi Gual & Francesc Trillas, 2006. "Telecommunications Policies: Measurement and Determinants," Review of Network Economics, Concept Economics, vol. 5(2), pages 249-272, June. [Downloadable!]
  16. Luis Gutierrez, 2002. "Regulatory governance in the latinamerican telecommunications sector," BORRADORES DE INVESTIGACIÓN 003447, UNIVERSIDAD DEL ROSARIO - FACULTAD DE ECONOMÍA. [Downloadable!]
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  17. Otto Toivanen, 2004. "Choosing Standards," Discussion Papers 937, The Research Institute of the Finnish Economy. [Downloadable!]
  18. Sang Hyup Lee, 2003. "A Duration Analysis Of The Adoption Of Privatization Policy: Evidence From The Telecommunications Sector In The Asia-Pacific Region," International Economic Journal, Korean International Economic Association, vol. 17(2), pages 65-78, June. [Downloadable!] (restricted)
  19. Witold J. Henisz & Bennet A. Zelner & Mauro F. Guillen, 2004. "International Coercion, Emulation and Policy Diffusion: Market-Oriented Infrastructure Reforms, 1977-1999," William Davidson Institute Working Papers Series 2004-713, William Davidson Institute at the University of Michigan Stephen M. Ross Business School. [Downloadable!]
  20. Dino Falaschetti, 2003. "Voter Turnout, Regulatory Commitment, and Capital Accumulation: Evidence from the US Telecommunications Sector," Microeconomics 0311002, EconWPA. [Downloadable!]
  21. Antonio Afonso & Carla Scaglioni, 2006. "An Assessment of Telecommunications Regulation Performance in the European Union," Working Papers 2006/07, Department of Economics at the School of Economics and Management (ISEG), Technical University of Lisbon.. [Downloadable!]
  22. Taylor, Mark Zachary, 2007. "Political decentralization and technological innovation: testing the innovative advantages of decentralized states," MPRA Paper 10996, University Library of Munich, Germany. [Downloadable!]
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  23. Veneta Andonova & Luis Diaz-Serrano, 2007. "Political Institutions and the Development of Telecommunications," IZA Discussion Papers 2569, Institute for the Study of Labor (IZA). [Downloadable!]
  24. Taylor, Mark Zachary, 2007. "National innovation rates: the evidence for/against domestic institutions," MPRA Paper 10997, University Library of Munich, Germany. [Downloadable!]
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