The ICT and software industry have evolved as twin global industries now spanning a large number of interconnected clusters in the developed and emerging countries. Firms, governments and other actors have re-established different relationships and structures throughout 1980-1984, early 1990s,...

The paper unveils whether ICT diffusion determines development of financial innovation in emerging economies. Particularly, we examine the impact of ICT adoption on changing values of exchange traded funds in Brazil and Mexico, comparing it to the United States as reference country (benchmark)....