Publication:
Does Sequencing Matter? Regulation and Privatization in Telecommunications Reforms

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dc.contributor.authorWallsten, Scott
dc.date.accessioned2013-08-06T15:02:42Z
dc.date.available2013-08-06T15:02:42Z
dc.date.issued2002-04
dc.description.abstractThe question of the most effective order of reforming state-owned enterprises has been hotly debated over the years. In the early 1990s, many western advisers encouraged Eastern European countries, and the former Soviet Union, to privatize firms quickly under the assumption that market institutions would develop once firms were privately owned. The thinking since then has emphasized the importance of establishing an institutional framework conducive to promoting competition before privatizing firms. To date, there has been little empirical work clarifying the debate. The author attempts to address this gap, by examining the effects of the sequence of reform in telecommunications, particularly the effects of establishing a regulatory authority, prior to privatizing incumbent telecommunications firms. Consistent with current thinking, the author finds that countries that established separate regulatory authorities, prior to privatization, saw increased telecommunications investment, fixed telephone penetration, and cellular penetration compared with countries that did not. Moreover, he finds that investors are willing to pay more for telecommunications firms, in countries that established a regulatory authority before privatization. This increased willingness to pay is consistent with the hypothesis that investors require a risk premium to invest, where regulatory rules remain unclear.en
dc.identifierhttp://documents.worldbank.org/curated/en/2002/04/1758948/sequencing-matter-regulation-privatization-telecommunications-reforms
dc.identifier.doi10.1596/1813-9450-2817
dc.identifier.urihttps://hdl.handle.net/10986/14813
dc.languageEnglish
dc.language.isoen_US
dc.publisherWorld Bank, Washington, D.C.
dc.relation.ispartofseriesPolicy Research Working Paper;No.2817
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCOUNTING
dc.subjectBIDDING
dc.subjectBUSINESS OPPORTUNITIES
dc.subjectCOMPETITIVE ENVIRONMENT
dc.subjectCOMPETITIVE MARKETS
dc.subjectCONSUMERS
dc.subjectDEREGULATION
dc.subjectECONOMETRIC ANALYSIS
dc.subjectECONOMIC DEVELOPMENT
dc.subjectECONOMIC PROBLEMS
dc.subjectEMPIRICAL ANALYSIS
dc.subjectEMPIRICAL EVIDENCE
dc.subjectEMPIRICAL STUDIES
dc.subjectEMPLOYMENT
dc.subjectEXOGENOUS VARIABLES
dc.subjectGDP
dc.subjectGDP PER CAPITA
dc.subjectINDUSTRIAL ECONOMICS
dc.subjectMACROECONOMIC CONDITIONS
dc.subjectMACROECONOMICS
dc.subjectMONOPOLIES
dc.subjectMONOPOLY
dc.subjectMONOPOLY PROFITS
dc.subjectNATURAL MONOPOLIES
dc.subjectNATURAL MONOPOLY
dc.subjectNETWORK EXTERNALITIES
dc.subjectNEW ENTRANTS
dc.subjectOPTIMIZATION
dc.subjectPER CAPITA INCOME
dc.subjectPOSITIVE EFFECTS
dc.subjectPRIVATE MONOPOLY
dc.subjectPRIVATIZATION
dc.subjectPROPERTY RIGHTS
dc.subjectPUBLIC POLICY
dc.subjectREGULATOR
dc.subjectREGULATORS
dc.subjectREGULATORY AGENCIES
dc.subjectREGULATORY AUTHORITY
dc.subjectREGULATORY CAPACITY
dc.subjectREGULATORY FRAMEWORK
dc.subjectREGULATORY INSTITUTIONS
dc.subjectREGULATORY OBJECTIVES
dc.subjectREGULATORY REFORM
dc.subjectREGULATORY STRUCTURE
dc.subjectRISK PREMIUM
dc.subjectTELECOM SECTOR
dc.subjectTELECOMMUNICATIONS
dc.subjectTELECOMMUNICATIONS DEVELOPMENT
dc.subjectTELECOMMUNICATIONS INFRASTRUCTURE
dc.subjectTELECOMMUNICATIONS NETWORKS
dc.subjectTELECOMMUNICATIONS REFORM
dc.subjectTELECOMMUNICATIONS REFORMS
dc.subjectTELECOMMUNICATIONS SECTOR
dc.subjectTELECOMS
dc.subjectTELEPHONE DENSITY
dc.subjectTELEPHONE PENETRATION
dc.subjectTELEPHONE SERVICE
dc.subjectTRADE LIBERALIZATION
dc.subjectTRANSPORT
dc.subjectUNIVERSAL SERVICE
dc.subjectVALUATION
dc.subjectVAN
dc.subjectWEALTH
dc.subjectWILLINGNESS TO PAY PRIVATIZATION
dc.subjectTELECOMMUNICATIONS
dc.subjectREGULATORY FRAMEWORK
dc.subjectSTATE-OWNED ENTERPRISES
dc.subjectTRANSITION ECONOMIES
dc.subjectINSTITUTION BUILDING
dc.subjectINSTITUTIONAL FRAMEWORK
dc.subjectMARKET PENETRATION
dc.subjectCOMPETITIVENESS
dc.subjectTELECOMMUNICATION POLICY
dc.subjectPOLICY REFORM
dc.subjectREGULATORY BODIES
dc.subjectREGULATORY BODIES
dc.subjectINVESTMENTS
dc.subjectPAYMENTS ARRANGEMENTS
dc.subjectRISK PREMIUM
dc.subjectINVESTOR CONFIDENCE
dc.subjectREGULATORY STRUCTURE
dc.titleDoes Sequencing Matter? Regulation and Privatization in Telecommunications Reformsen
dspace.entity.typePublication
okr.crossref.titleDoes Sequencing Matter? Regulation and Privatization in Telecommunications Reforms
okr.date.doiregistration2025-04-10T09:40:00.739218Z
okr.doctypePublications & Research::Policy Research Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/2002/04/1758948/sequencing-matter-regulation-privatization-telecommunications-reforms
okr.globalpracticeTransport and ICT
okr.globalpracticeFinance and Markets
okr.globalpracticeTrade and Competitiveness
okr.guid284041468766823267
okr.identifier.doi10.1596/1813-9450-2817
okr.identifier.externaldocumentum000094946_02041804272576
okr.identifier.internaldocumentum1758948
okr.identifier.reportWPS2817
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2002/05/03/000094946_02041804272576/Rendered/PDF/multi0page.pdfen
okr.sectorMacro/Non-Trade
okr.topicEconomic Theory and Research
okr.topicBanks and Banking Reform
okr.topicEnvironmental Economics and Policies
okr.topicInternational Economics and Trade::Trade Finance and Investment
okr.topicInternational Terrorism and Counterterrorism
okr.topicInformation and Communication Technologies::ICT Policy and Strategies
okr.topicAdministrative and Regulatory Law
okr.unitOff of Sr VP Dev Econ/Chief Econ (DECVP)
okr.volume1
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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