There are several literature survey conducted by Ghosh

There are several literature survey conducted by Ghosh (2017), Czernich et al. (2011), Kolko (2012), Jin et al. (2015) and Castaldo et al. (2018) confirms the positive significant relationship between broadband and economic growth. Czernich et al. (2011) and Ghosh (2017) focused their research on the effect of broadband penetration on economic growth. Both of them studied on different countries and used different method for their research. Ghosh (2017) studied for 15 MENA countries and using OLS method for 2001-2014 period while Czernich et al. (2011) studied for OECD countries using ARIMA method for the 1996-2007 period. Both of them found that broadband penetration had a positive significant effect on economic growth. In Ghosh research, he found that this positive results is workable only when there is a reduction in broadband prices, greater innovation and entrepreneurial activity. Likewise, broadband infrastructure served as lower bound and can be sufficiently assessed only when it is available on longer time frame can be found in Czernich et al. paper.
Kolko (2012) find a positive relationship effect of the broadband expansion and economic growth especially in industries and those areas which has a lower population densities. This research was conducted for United States by using OLS method from 1999-2006. In this study, FCC data in assessing broadband rollout and availability have result a lot of limitation which is many data are not well documented and reported. This research also highlight that the rise in broadband investment is because of institutions and national government stress on the role of internet in improving the economic competitiveness.
Another literature focuses on broadband diffusion and economic growth. Castaldo et al. (2018) conduct the research for OECD by using generalized method of moments (GMM) combined with an instrumental variable (IV) two-stage approach from the period of 1996-2010 and found that broadband diffusion has positively correlated with economic growth. In this research, it shows positive results even after controlling initial endowment of information and communication technology (ICT) and economic crisis. On the other hand, public policy intervention aimed to enhance broadband diffusion and encourage full deployment of upgraded new communication networks will bring up economic growth.
There are numerous studies focus on information and communication technology (ICT) and economic growth. In this case, Jin and Cho (2015) study indicated that the effect of three components of ICT development on economic development has positive relationship. During the research, it results that panel data analysis is the best during the selection model between fixed and random effect models compare to ordinary least squares (OLS) method. Besides that, it also result that conduct the research using panel data analysis with time series data is autocorrelation and sometimes called serial correlation. Hence, the best fit model is fixed effects model with autocorrelation (FEAR) in conducting the research.


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