Conceptualising Regulatory Change - Explaining Shifts in Telecommunications Governance

Drawing on perspectives from telecommunications policy and neo-Gramscian understandings of international political economy, this paper offers an explanation and analysis of the shifting patterns of regulation which have been evident in the telecommunications sector in recent years. It aims to illustrate explain and explore the implications of the movement of regulatory sovereignty away from the nation-state, through regional conduits, to global organisations in the crystallisation of a world system of telecommunications governance. Our central argument is that telecommunications governance has evolved from a regulatory arena characterised, in large part, by national diversity, to one wherein a more convergent global multilayered system is emerging. We suggest that the epicentre of this regulatory system is the relatively new World Trade Organisation (WTO). Working in concert with the WTO are existing well-established nodes regulation. In further complement, we see regional regulatory projects, notably the European Union (EU), as important conduits and nodes of regulation in the consolidation of a global regulatory regime. By way of procedure, we first explore the utility of a neo-Gramscian approach for understanding the development of global regulatory frameworks. Second, we survey something of the recent history - and, in extension, conventional wisdom - of telecommunications regulation at national and regional levels. Third, we demonstrate how a multilayered system of global telecommunications regulation has emerged centred around the regulatory authority of the WTO. Finally, we offer our concluding comments.Comment: 29th TPRC conference, 200

Overcoming financing constraints to corporate expansion: evidence from a company in an emerging Islamic market

The sourcing of low-cost finance to facilitate corporate expansion on competitive terms is a major challenge to firms from emerging markets. There are additional constraints in Islamic markets as financial instruments must adhere to shari’ya law. This paper examines the approach taken by the Sudan Telecommunications Company (Sudatel) to obtain cost effective equity financing using secondary listings on multiple Middle East and North Africa (MENA) stock exchanges. We compare the costs of equity for Sudatel stock on the Sudan and Abu Dhabi Exchanges, and compare these figures with those for Sudatel’s two main regional competitors. Furthermore, we highlight the risk-return trade-off faced by investors in Sudatel stock on both Exchanges, and provide evidence of the potential benefits to investors from the overseas listin

Service to the Economy: Removing Barriers to "Invisible Trade"

Although they are part of a large and growing segment of world trade -- and a prominent feature in healthy, vibrant economies -- services are often overlooked in trade negotiations in favor of higher-profile trade in agriculture and manufactured goods. Yet countries with more open services markets benefit from higher growth rates and living standards. Because services are an input to most other sectors of the economy, the benefits from open and competitive markets are pervasive. Indeed, the gains from lowering remaining trade barriers in services would eclipse the gains from trade liberalization in agriculture and manufacturing. The recently derailed Doha round of global trade talks seem to have put globally coordinated efforts towards liberalizing services trade on the back burner for the foreseeable future. Fortunately, the United States does not have to wait for a negotiated trade agreement to benefit from a more open trade in services. The United States should continue to press other nations, including developing countries, to open their markets to American service providers, while removing unwieldy restrictions at home. By autonomously reducing the remaining barriers on maritime services, rail and air transportation services, distribution services, and restrictions on the temporary entry of workers from abroad, many of the benefits to American consumers and industry will be realized regardless of what other nations choose to do

Governing information infrastructures and services in telecommunications

Purpose – Telecommunications comprises a vital component of information infrastructures and services, with a historically strong public interest dimension. For the best part of 30 years, the telecommunications sector in Europe has been the subject of a radical reorganisation in structural and operational terms along the lines of neo-liberalism. This paper aims to analyse the significance of the neo-liberal project in telecommunications in respect of the related dimensions of ideology and practice. Design/methodology/approach – The paper presents a public policy critique of the manifestation of neo-liberalism in the telecommunications sector in the European Union, employing desk-based research on relevant primary and secondary source documentation. Findings – The paper finds that proponents of neo-liberalism have been able to secure the broad acceptance of neo-liberalism as a “view of the world” for telecommunications. It shows that in practice, however, the neo-liberal model in telecommunications provides evidence of a less than efficacious adoption process in three respects: neo-liberalism requires an elaborately managed system the regulatory burden of which has been under-emphasised; the normative success of neo-liberalism has masked how difficult it has actually proven to be to create competition; the preoccupation with markets and competition has resulted in de-emphasis of public interest issues in telecommunications. Originality/value – This paper contributes up-to-date knowledge of the nature and effects of neo-liberalism in the European telecommunication sector. It provides a challenge and counterweight to the “received wisdom” that neo-liberalism has been an overwhelmingly successful approach to the re-ordering of European telecommunications

The impact of mobile telephony on developing country micro-enterprises: a Nigerian case study

Informational challenges-absence, uncertainty, asymmetry-shape the working of markets and commerce in many developing countries. For developing country micro-enterprises, which form the bulk of all enterprises worldwide, these challenges shape the characteristics of their supply chains. They reduce the chances that business and trade will emerge. They keep supply chains localised and intermediated. They make trade within those supply chains slow, costly, and risky. Mobile telephony may provide an opportunity to address the informational challenges and, hence, to alter the characteristics of trade within micro-enterprise supply chains. However, mobile telephony has only recently penetrated. This paper, therefore, presents one of the first case studies of the impact of mobile telephony on the numerically-dominant form of enterprise, based around a case study of the cloth-weaving sector in Nigeria. It finds that there are ways in which costs and risks are being reduced and time is saved, often by substitution of journeys. But it also finds a continuing need for journeys and physical meetings due to issues of trust, design intensity, physical inspection and exchange, and interaction complexity. As a result, there are few signs of the de-localisation or disintermediation predicted by some commentators. An economising effect of mobile phones on supply chain processes may therefore co-exist with the entrenchment of supply chain structures and a growing 'competitive divide' between those with and without access to telephony

Impact of global crisis on Mexican multinationals varies by industry, survey finds

The Institute for Economic Research (IIEc) of the National Autonomous University of Mexico (UNAM) and the Vale Columbia Center on Sustainable International Investment (VCC), a joint initiative of the Columbia Law School and the Earth Institute at Columbia University in New York, are releasing the results of their second annual survey of Mexican multinationals today.1 The survey is part of a long-term study of the rapid global expansion of the multinational enterprises of emerging markets. The present report focuses on data for the year 2009. Highlights In 2009, the 20 companies listed in table 1 below posted about USD 117 billion in foreign assets, 63 billion in foreign sales, and had 227,484 employees in their overseas operations. The top three companies on the list are CEMEX, America Movil, and Carso Global Telecom, which together controlled USD 86 billion in foreign assets, which was 73% of the total on the list. The leading sectors on the list are food and beverages (4 firms), non-metallic minerals (4 firms), and telecommunications (2 firms). In keeping with the tradition in Mexican outward foreign direct investment (FDI), most of the investments were undertaken in Latin America and the Caribbean and in North America −specifically the United States-. These regions were followed in importance by Western Europe. Mexican outward FDI has now also begun to appear in China, India, and Australia. The shares of all companies ranked in table 1 are publicly traded, with the exception of PEMEX, which is 100% state-owned, and Xignux, which is a privately held family-owned firm

Promoting Competition in Telecommunications

There is a growing recognition of the importance of competition for the success of market economies, and of the need for government action both to maintain competition and to regulate industries where competition remains limited. In the area of telecommunications, upon which I shall focus today, we have seen examples where privatization has not delivered on its promises: in some cases access in certain vital areas has actually been reduced. Competition and regulatory policy are vital for a market economy. The fundamental theorems of welfare economics, assume that both private property and competitive markets exist in the economy. Until recently, however, emphasis was placed almost exclusively on creating private property, and privatization of public assets. A well designed privatization, where there is a good regulatory framework in place, can raise enormous revenues and at the same time increase services and lower prices.market economies; government; competition; regulate industries; telecommunications

Telecommunications Technologies: Deployment in Developing Countries

This paper examines some policies pursued in developing countries for the provision of telecommunications services in rural areas. These policies significantly differ from those typically implemented in developed countries in their fundamental objectives, the technological strategies deployed and the market and institutional environments they rest on. A review of some representative experiences suggests that thinking about public utility reforms in this part of the world is quite a challenging exercise. We point out some economic and institutional characteristics of these countries that we believe normative analysis of the reforms should explicitly take into accountTelecommunications; Developing Countries; Universal Access