Abstract
Time series analyses of 31 years of US data (1958–88, inclusive) were consistent with two causal hypotheses. First, the level of US economic activity at any point in time is a reliable predictor (‘cause’) of the amount of US telecommunications investment at a later point in time. Second, the amount of US telecommunications investment at any point in time is a reliable predictor (‘cause’) of the level of US economic activity at a later point in time.
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