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

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  • Arezki,Rabah
  • Dequiedt,Vianney
  • Fan,Yuting
  • Rossotto,Carlo Maria

Abstract

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.

Suggested Citation

  • Arezki,Rabah & Dequiedt,Vianney & Fan,Yuting & Rossotto,Carlo Maria, 2021. "Liberalization, Technology Adoption, and Stock Returns : Evidence from Telecom," Policy Research Working Paper Series 9561, The World Bank.
    • Handle: RePEc:wbk:wbrwps:9561
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    Keywords

    Telecommunications Infrastructure; Health Care Services Industry; Information Technology; Energy Demand; Energy and Mining; Energy and Environment;
    All these keywords.

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