Purpose: The purpose of this paper is to hypothesize two channels in which market volatility affects initial public offering (IPO) activity. Design/methodology/approach: First, CEOs time the market for IPOs and volatility makes this decision process harder. Second, risk-averse IPO investors...

In this book, the authors reject the theorem-proof approach as much as possible, and emphasize the practical application of econometrics. They show with examples how to calculate and interpret the numerical results. This book begins with students estimating simple univariate models, in a step by...

The impact of mobile and fixed telephones on economic growth has been the subject of increasing scrutiny in the literature on economic development. It is even of interest to theoretical macroeconomists, as it provides a useful test of the positive network externalities that should be present if...

How damaging is the Sunni/Shia split to the economies of Islamic countries? Is it better to be one or the other? Or is it better to have an even balance between the two? Answering these questions is complicated by the fact that the data are often missing or imprecisely measured. We employ the...

We examine the effect of mobile cellular phones on economic growth in sub-Saharan Africa where a marked asymmetry is present between land line penetration and mobile telecommunications expansion. This study extends previous research along two important dimensions. First, we allow for the...