We examine the relationship between the deployment of broadband, which we classify as a general purpose technology, and the productivity of the deploying firms using panel data that comprises information on all the major local exchange carriers in the United States telecommunications industry...

The paper develops a simple theoretical framework of financial discipline during the stabilization of a transition economy, from which it derives an empirical measure to assess whether the banking sector has started to act as a source of financial discipline, or just as a temporary buffer for...

The paper develops a simple theoretical framework of financial discipline during the stabilization of a transition economy, from which it derives an empirical measure to assess whether the banking sector has started to act as a source of financial discipline, or just as a temporary buffer for...