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This paper examines whether Greece's financial market liberalization efforts have had any effects on the efficient operation of its equity market, the Athens Stock Exchange (ASE). Several tests for structural change, market integration, and efficiency, suggest that the ASE was weak-form efficient and was operating as a random walk even before any market liberalization announcements were made. Furthermore,...
This article examines the impact of cellular technology diffusion on the competitiveness of the telecommunications sector for 23 OECD countries for the period 1980–1995. Cellular technology diffusion has proceeded rapidly in several OECD countries, providing substantial inter-connectivities with the fixed line telephone network, but there is substantial cross-sectional variation. Thus, consequences...
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