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

Rabah Arezki, Vianney Dequiedt (), Rachel Fan and Carlo Rossotto
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Vianney Dequiedt: CERDI - Centre d'Études et de Recherches sur le Développement International - IRD - Institut de Recherche pour le Développement - CNRS - Centre National de la Recherche Scientifique - UCA - Université Clermont Auvergne

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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 dataset. Results are twofold. First, evidence points to the complementarity between telecom liberalization and regulatory independence in driving a sustained pace of technology adoption. Second, 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.

Keywords: Liberalization; Technology adaption; Telecom; Regulation; Stock returns (search for similar items in EconPapers)
Date: 2021-02
Note: View the original document on HAL open archive server: https://uca.hal.science/hal-03151965v1
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Working Paper: Liberalization, Technology Adoption, and Stock Returns: Evidence from Telecom (2021)
Working Paper: Liberalization, Technology Adoption, and Stock Returns: Evidence from Telecom (2021)
Working Paper: Liberalization, Technology Adoption, and Stock Returns: Evidence from Telecom (2021)
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