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[title] '; include("head.php"); ?> Darby, Larry F. , Ph.D.

Impacts of the 1996 Telecom Act on Investment and Innovation
Darby, Larry F. , Ph.D.
Fuhr, Joseph P. , Jr., Ph.D.
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Focuses on conditions conducive to investment and innovation in the telecom network sector of the economy. The authors address issues and questions related to the impact of the Telecommunications Act of 1997, and the FCC's implementation of the act on capital markets and the incentives for carriers to undertake risky investment. Includes a review of recent market performance of stocks and some recent research in progress on the sensitivity of telecom securities prices to interest rates and other factors.

Regulatory Perspectives on Investment and Innovation in U.S. Telecommunications
Darby, Larry F. , Ph.D.
Fuhr, Joseph P. , Ph.D.
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The authors report some of the results from a broader review and analysis of the impact of regulation on investment and innovation in the telecom sector. They begin with a discussion of the historic importance of infrastructure development as a goal of telecom policy, and then move to Congress' recent enlargement of that goal in the Telecom Act of 1996. They briefly review the tools available to the FCC for encouraging infrastructure and innovation and what the theoretical and empirical literature has to say about the impact of various forms of regulation on innovation and capital formation. They conclude with the implications for the development of a comprehensive and coherent policy to encourage innovation and investment in infrastructure.

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