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

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.
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Contributor : Cerdi Etudes & Documents - Publications <>
Submitted on : Thursday, February 25, 2021 - 10:52:05 AM
Last modification on : Thursday, April 1, 2021 - 12:18:03 PM
Long-term archiving on: : Wednesday, May 26, 2021 - 6:23:59 PM


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  • HAL Id : hal-03151965, version 1


Rabah Arezki, Vianney Dequiedt, Rachel Fan, Carlo Rossotto. Liberalization, Technology Adoption, and Stock Returns: Evidence from Telecom. 2021. ⟨hal-03151965⟩



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