Academic literature on the topic 'Telecommunication policy'

The aim of the article is to develop a methodology for the formal design of the complex information security system in information and telecommunication systems. At the moment, there are no methods for the formal design of complex information security system in information and telecommunication systems, so the development of such a methodology is an urgent task. The article discusses the methods of formalized modeling of information security policy and methods of formalized description of the information and telecommunications system and information processing processes. The necessity of formal design of complex information security system is substantiated and the requirements for the development of formal descriptions of an integrated information security system in accordance with regulatory documents in the field of technical protection of information are described. The comparative characteristics of the methods of formalized modeling of information security policy and methods of formalized description of the information and telecommunication system and information processing processes are given. As a result of the comparison, it is proposed to use the UML method for the formal description of the information-telecommunication system, and the UMLsec method for the security policy modeling. An algorithm for the formation of a complex of protection facilities in an information and telecommunications system is proposed from a formal model of security policy and from a formalized description of an information and telecommunications system and information processing processes.

The purpose of the article is to study the impact of the pandemic on the accelerated development of the digital economy. The information about what components consist of Telecommunication and the importance of each of them is collected, the theoretical aspects of information and telecommunication infrastructure are analyzed. Analyzed the current state of e-government as the basis of information and telecommunications system in the public service, collected information about the functions of information technology, state information policy, analyzed the theoretical aspects of information and telecommunications infrastructure. The modern state of e-government as the basis of information and telecommunication system on public service has been analyzed, the information about the functions of information technology, state information policy has been collected, the level and prospects of development of telecommunications infrastructure to date has been determined, and specific tasks and objectives in the plan have been determined. Analyzed and proposed, what paths to take, what measures to be implemented to become an e-government.

Telecommunication infrastructure is part of critical infrastructure because it has a vital role in the community and affects the country's economy. Therefore, telecommunications infrastructure can be classified as a vital national object, requiring a particular security mechanism in its deployment. However, telecommunication infrastructure has different characteristics than other sectors, where the operation is fixed and mobile. Using a descriptive-analytical approach, data is obtained from benchmarks and interviews with resource persons from various fields through several Forum Group Discussion activities. Each telecommunications network operator can apply for National Vital Objects in the Telecommunications Sector based on the mechanism under the guidelines for determining the national vital object in the telecommunications sector stipulated through a Ministerial Regulation. The regulation covers various aspects, including the mechanism for determining, evaluating, fostering, and responsibilities of National Vital Objects in the Telecommunications Sector. In its implementation, the National Vital Objects in the Telecommunications Sector manager coordinates with various security parties, such as the Indonesian National Police. With the policy of the National Vital Objects in the Telecommunications Sector implementation mechanism, it is hoped that the telecommunications infrastructure can be well protected so that the business climate of telecommunications operations remains conducive and telecommunications services can always support the development and strengthening of the national economy.

Development of trade rules for international telecommunications within the ongoing General Agreement on Tariffs and Trade (GATT) negotiations and the recently- concluded North American Free Trade Agreement represent a significant shift in policymaking. Historically, telecommunication has been the responsibility of national governmental authorities, whether through public sector service provision or regulation. However, the increasing incorporation of communication and information resources into the transnational corporate economy in the past two decades has prompted efforts to shift control to the private sector. This study analyses the impact of a trade framework for telecommunications services on international and national policy-making.

Along with the growth of cellular phone subscribers in Indonesia, cellular network operators continue to strive to build infrastructure to establish broader service coverage areas, thus, increasing the quality of service. Regional Rules & Regulations in DKI Jakarta are intended to regulate the BTS towers within an area. However, they become a barrier for Telecommunications operators to meet the needs of good networks/signals. Changes in the zoning of telecommunication towers can meet the needs of operators and increase customer satisfaction. This study uses qualitative method analysis with an interview. The results show that policy evaluation regarding the implementation of telecommunication towers has yet to meet the needs of telecommunication tower providers (Tower Providers) and has been shown to cause areas that operator signal networks cannot cover. This situation impacts the satisfaction of particular customers and can threaten the business continuity of the operator. Conclusion of the Policy of the Governor of the Special Capital Region of Jakarta Number 14 of 2014, concerning the Implementation of Telecommunication Towers for Telecommunication Tower Providers, the annexse to the zoning of telecommunication towers needs to be reviewed because it has not been able to meet the needs of telecommunication tower providers and can pose a threat to business continuity.

[Purpose] To examine the advancement of nation-wise internet access in the context of policy and regulations that facilitated the transformation of Indian telecommunication. It analyzes government policies on the development of internet infrastructure, technical standards, content, security and digital inclusion. [Methodology/Approach/Design] Review of Indian regulations and Policy measures governing the evolution of internet and telecommunication sector. Study of Telecom Regulatory Authority of India Act,1997 and subordinate legislations. The study of draft Indian Telecommunication Bill, 2022. [Findings] The evolution of the Internet is credited with progressive convergence of the telecommunications, information technology, and broadcast media. This has led to new paradigms of competition, price wars, contesting licensing and tariffs agreements. The paper attempts to illustrate the regulations that govern these evolving paradigms. [Practical Implications] The Indian telecom sector has more than one billion subscribers and makes significant contribution to GDP of the nation. The Indian government has agreed upon a multi-stakeholder’s approach for internet governance in India. The policy reflects a supportive stand on net neutrality and is shaping digital surveillance on the matters of national security. [Originality/Value] This paper is a unique attempt to describe the policy and legislations that govern the fast-growing sectors of internet and telecommunication in India. The restructuring of the regulatory and legal framework for telecommunication sector is being undertaken by the government to protect the consumer and national interest.

The development of information and communication technologies has contributed to the fact that the telecommunication industry has become one of the strategic sectors of the economy on which the functioning of other branches of the economy depends. Therefore, the objective of the study was to determine the factors that influence the competitiveness of telecommunications companies and shape the image of the future telecommunication sector as a whole. The article analyzes two theoretical approaches to the definition of competitiveness: static and dynamic. Due to the importance of the dynamic approach for determining the competitiveness for the telecommunication market, the main internal and external factors affecting telecommunication companies nowadays and having a significant effect in future were identified. External factors were determined using STEEPV-analysis. For internal factors, the following classification was proposed: technological, organizational and marketing innovations. Among the external factors, the digitalization of the economy and society becomes the most important for telecommunication companies, technological innovations are among the internal factors. The factors revealed during the research can be used for foresight of the telecommunications sector of Russia, the definition of scenario conditions for forecasting the development of information and communication technologies, the formation of a strategic policy of telecommunication companies.

Purpose – The purpose of this paper is to investigate the long-run impact of telecommunications revenue and telecommunications investment on economic growth of Ghana for the time horizon 1976-2007. Design/methodology/approach – The paper uses the Augmented Dickey Fuller and Phillips Perron unit root test to explore the stationarity property of the variables and the Engle-Granger residual-based test of cointegration to model an appropriate restricted error correction model. Findings – The outcome of the analysis produced mixed results. Telecommunications revenue does not contribute significantly whilst telecommunications investment does. Practical implications – Policy makers will have to deal with a conundrum; while designing targeted policies that will attract more telecommunication investment in order to maximize the corresponding revenues and the economic growth it brings in its wake, they must at the same time find ways and resources to grow the economy to a point or threshold where revenue from telecommunications can have the much needed impact on their economies. Originality/value – The study is one of the first that has investigated the line of causality between telecommunication revenue and economic growth unlike previous research that mainly focused on the impact of telecommunication infrastructure on economic development.

In Australia, the Universal Service Obligation (USO) operates as a legislative mechanism that guarantees the right of all Australians to access a standard telephone service wherever they reside. In 1997, special provisions for people with severe hearing impairment were added to telecommunication legislation. The Telecommunications Act 1997 included a specific reference to teletypewriters (TTYs), including them as an addition to the definition of the Universal Service Obligation (USO) as the result of the outcome from a public inquiry held in 1995. The inquiry, subsequently referred to as Scott v. Telstra, is a case study illustrating the collision of two separate pieces of federal legislation and the paradigms that formed them. Furthermore, both the inquiry and subsequent revision of definitions of a standard telephone service illustrate the complexity of planning telecommunication policy for equitable social outcomes. Specifically, further questions are raised surrounding the role of universal service in changing technological and competitive environments.

In the two years 1989-1991 the environment of Poland's telecommunications was fundamentally transformed. This dissertation is an exploratory case study addressing four principal aspects of that country's changing telecommunications: (1) telecommunication regime or the structure of rules in which telecommunication systems function; (2) telecommunication services, defined as the means and methods of communicating from a distance by processing and relaying an electro-magnetic signal (categorized into telephone, mobile, data-messaging, information, data-carrier, and entertainment); (3) telecommunication equipment, or markets for switching, transmission and terminal equipment; and (4) telecommunication subscribers, or principal characteristics of the customer-base in the residential, professional, rural and urban market segments. Each aspect is examined for the purpose of capturing the on-going change. The dissertation identifies the principal agents of change and maps the new conditions onto the models developed by Cowhey and Aronson. Institutional pluralism, market competition, shortage alleviation and market restructuring have transformed Poland's telecommunication environment from the scarcity model to a version of the boutique model.

Thesis (Ph. D.)--Ohio State University, 2002.
Title from first page of PDF file. Document formatted into pages; contains xxi, 477 p.; also includes graphics (some col.). Includes abstract and vita. Co-advisors: Susan Kline and Rohan Samarajiva, School of Journalism and Communication. 590 Also on microfiche. 6 sheets. Includes bibliographical references (p. 451-477).

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Several factors affect the development of telecommunications policy in a country. These include government intervention, geography, alliances, and economic stability. By studying different countries, and comparing these factors and the rates of growth of each state, one can further understand the different levels of telecommunications development. This thesis will explore telecommunications policy, its success and failures, in the Dominican Republic and Haiti, where telecommunications has become a major source of jobs and economy due to foreign investments. Analysis of telecommunications policies, regulatory bodies, and agreements will be studied and compared to each country's rate of growth in the past 10 years. This thesis will provide recommendations for the successful implementation of regulatory policies in the named developing Caribbean nations. By examining the policies in these nations, this thesis will determine the effectiveness of the country's telecommunications policy. Additionally, the thesis will explore the influence of specific actors, such as corruption, nonenforcement of regulatory laws, lack of developed accounting and auditing systems, and the limitation of the government in developing policy.

Prior research on statewide educational telecommunications has focused on cataloging initiatives in various states, describing activities in individual states, or in exploring telecommunications policy from a planning-level perspective. In these studies, it is recognized that policies and implementation behaviors vary across individual states; however, a theoretical basis for how and why policy and implementation models differ among states has not been provided. Research also suggests that many states are moving toward the adoption of successful models from other states, and that there is a need for policy research to assist states in developing policies. This dissertation attempts to apply the systems perspective in organization theory (Thompson 1967; Mintzberg 1983) and concepts from political feasibility analysis (Meltsner 1972; Webber 1986) to qualitative data on educational telecommunications systems in three western states: Oregon, Colorado, and Utah. The research will provide descriptions of activities that can be referred to by state policy makers in evaluating the feasibility of adopting another state's planning model, and in developing their own policies. The research also will contribute to the growing literature on state policies and implementation models for distance education. The three states represent models of educational telecommunications systems prevalent in the U.S., and each differs in the level of statewide planning, governance, finance, and delivery of educational telecommunication represented by its model. Interviews with policy makers and practitioners in each state, combined with documentary evidence and prior research, provide descriptions of organizational responses to statewide policy and planning for distance education. Conclusions indicate that state policies are lagging behind technological change, and that variations in policy and planning among states result from constraints and contingencies imposed on institutions by contextual variables peculiar to each state. States that engage in careful planning for statewide telecommunications, taking into account the political culture, organizational behaviors, and historical relationships between higher education and state government, will have the greatest success in developing and implementing policies.

Construction safety practices is a significant aspect in the construction industry, as construction workers cannot operate in an accident free environment without proper adherence to safety guidelines. The construction and maintenance of telecommunication masts and towers can pose serious accident threat to workers on site, hence the need to adopt the current safety practices in the sector. This study outlined the current safety practices observed by workers in the construction of telecommunication masts and towers. The study adopted a quantitative research approach and data collected from the participants involved in the construction telecommunication masts and towers in Nigeria. Information gathered was analysed using the mean item score (MIS), standard deviation (SD) and exploratory factor analysis (EFA). The findings showcased the current safety practices of telecommunication masts and towers in the Nigeria telecommunication industry to be; personal protective equipment (PPE), fire extinguisher, safety inspection, authorized entry to construction sites is prohibited, safety policy, safety education and training programs. These were seen to have a direct impact on the safety practices currently observed in the construction of telecommunications mast and towers in the Nigerian telecommunication industry. Non adherence to safety practices can hinder the welfare of the workers and economic growth of the country. Therefore, it is imperative for the telecommunication industry in Nigeria to adopt more ways of managing safety in the industry so as to improve the safety and welfare of construction workers and prevent negative economic infractions they may arise from accidents on sight. The government should adopt measures to ensure the current safety practices are enforced among all construction stakeholders who are involved in the construction of telecommunication masts and towers to prevent accidents from happening at construction sites.

In the recent years, Sri Lanka’s focus on its infrastructure has grown due to its significance to the country’s economy, security, and quality of life. A resilient critical infrastructure system is crucial in reducing the impact of natural and human induced risks and weaknesses. In this context, comprehensive knowledge of a nation’s legal and policy framework would be of great assistance in building pathways towards strengthening the resilience of critical infrastructure systems. Concerning the need, this study aims to assess the ability of the existing legal and policy framework for complex, interdependent infrastructure systems in Sri Lanka to protect its energy and telecommunication infrastructure against natural and human-induced hazards. The objectives of the study include: (1) determining the existing legal and policy framework for energy, telecommunication infrastructure in Sri Lanka; and (2) comparing the legal and policy provisions for protecting these infrastructures against hazards in Sri Lanka with the international context. The study involved a comprehensive literature synthesis to understand the scope of critical infrastructure in the global context. Further, preliminary interviews were conducted to obtain the direction for the identification of the existing legal and policy framework related to the infrastructure sectors in Sri Lanka. Finally, the study examined the available provisions in the framework, alongside a desk study, to assess their effectiveness in safeguarding critical infrastructure. A comparison between Sri Lanka and the international context highlighted significant gaps in the legal and policy framework, particularly in terms of protecting the nation's infrastructure.

Radiofrequency spectrum is an essential asset for mobile network operators. Governments set its value to organize competitive frequency auctions and define recurrent payments, such as taxes and right of use. This publication sustains that governments should value radio frequency spectrum as a function of the intended frequency use policy and corresponding obligations. A mathematical formula is proposed to articulate, quantitatively, the relationship between spectrum value and regulatory obligations, including promoting new market entrants, conditioning of wholesale obligations, definition of coverage goals, and requirement to support public safety and first respondent services. This paper targets, in general, the telecommunication ministries, national regulatory authorities, and government entities that address the topic of valuing radio frequency spectrum.

This paper is based on the premise that investment in Information and Communication Technologies (ICT) has a positive impact on economic development because of its contribution to growth and labor productivity. Development of an information-based society and the realization of an ICT strategy and its incorporation into every day social and economic activity are, however, dependent on the availability and accessibility of physical infrastructure. The report reviews the basic infrastructure for ICT in the Caribbean and compares the current telecommunications policy and regulatory framework with that of the mid 1990s when governments in the region began earnestly to think about reform. At that time twelve of them participated in the World Trade Organization negotiations on basic telecommunications. The report also examines telecommunications pricing issues, the current free trade negotiations which impact the ICT sector and some noteworthy regional initiatives to promote ICT. Finally it discusses regulatory barriers to investment in the telecommunications sector and recommends a number of actions to overcome these.

This paper fills a void in the issue of determinants of privatization prices by concentrating in one industry across many countries. This has not been done before, as the literature has only focused on (i) many industries in one country, (ii) a single industry in one country, and (iii) many industries in many countries. We complement a recently released database with newly collected data, and we are able to cover 84 telecommunications privatizations, which account for nearly 80 percent of the sector in terms of value. Our findings are consistent with the little existing work on privatization prices, as our best policy prescription is primarily to concentrate on the transparency and cleanliness of the privatization process, as sale methods do matter. We show that government administration of labor downsizing may result in adverse selection, as the best workers are the first to leave when given the opportunity.

For the first time, a Chinese company—Huawei—is set to lead the global transition from one key national security infrastructure technology to the next. How did Washington, at the beginning of the twenty-first century, fail to protect U.S. firms in this strategic technology and allow a geopolitical competitor to take a leadership position in a national security relevant critical infrastructure such as telecommunications? This policy brief highlights the characteristics of 5G development that China leveraged, exploited, and supported to take the lead in this key technology. The Huawei case study is in some ways the canary in the coal mine for emerging technologies and an illustration of what can happen to U.S. competitiveness when China’s companies do not have to base decisions on market forces.

Once the global leader in telecommunication systems and the Internet, over the past two decades the United States has fallen behind global competitors, and in particular China, in mobile communication infrastructure—specifically 5G and Internet of Things (IoT). This national failure, with the socioeconomic and geopolitical tensions that it creates, is not due to a lack of US government investment in the knowledge required for the mobility revolution. Nor is it because of a dearth of domestic demand for the equipment, devices, and applications that can make use of this infrastructure. Rather, the problem is the dereliction of key US-based business corporations to take the lead in making the investments in organizational learning required to generate cutting edge communication-infrastructure products. No company in the United States exemplifies this deficiency more than Cisco Systems, the business corporation founded in Silicon Valley in 1984 that had explosive growth in the 1990s to become the foremost global enterprise-networking equipment producer in the Internet revolution. This paper provides in-depth analysis of Cisco’s organizational failure, attributing it ultimately to the company’s turn from innovation in the last decades of 20th century to financialization in the early decades of the 21st century. Since 2001, Cisco’s top management has chosen to allocate corporate cash to open-market share repurchases— aka stock buybacks—for the purpose of giving manipulative boosts to the company stock price rather than make the investments in organizational learning required to become a world leader in communication-infrastructure equipment for the era of 5G and IoT. From October 2001 through October 2022, Cisco spent $152.3 billion—95 percent of its net income over the period—on stock buybacks for the purpose of propping up its stock price. These funds wasted in pursuit of “maximizing shareholder value” were on top of the $55.5 billion that Cisco paid out to shareholders in dividends, representing an additional 35 percent of net income. In this paper, we trace how Cisco grew from a Silicon Valley startup in 1984 to become, through its innovative products, the world leader in enterprise-networking equipment over the next decade and a half. As the company entered the 21st century, building on its dominance of enterprise-networking, Cisco was positioned to upgrade its technological capabilities to become a major infrastructureequipment vendor to service providers. We analyze how and why, when the Internet boom turned to bust in 2001, the organizational structure that enabled Cisco to dominate enterprise networking posed constraints related to manufacturing and marketing on the company’s growth in the more sophisticated infrastructure-equipment segment. We then document how from 2002 Cisco turned from innovation to financialization, as it used its ample profits to do stock buybacks to prop up its stock price. Finally, we ponder the larger policy implications of Cisco’s turn from innovation to financialization for the competitive position of the US information-and-communication technology (ICT) industry in the global economy.

1.1 Macroeconomic summary Economic recovery has consistently outperformed the technical staff’s expectations following a steep decline in activity in the second quarter of 2020. At the same time, total and core inflation rates have fallen and remain at low levels, suggesting that a significant element of the reactivation of Colombia’s economy has been related to recovery in potential GDP. This would support the technical staff’s diagnosis of weak aggregate demand and ample excess capacity. The most recently available data on 2020 growth suggests a contraction in economic activity of 6.8%, lower than estimates from January’s Monetary Policy Report (-7.2%). High-frequency indicators suggest that economic performance was significantly more dynamic than expected in January, despite mobility restrictions and quarantine measures. This has also come amid declines in total and core inflation, the latter of which was below January projections if controlling for certain relative price changes. This suggests that the unexpected strength of recent growth contains elements of demand, and that excess capacity, while significant, could be lower than previously estimated. Nevertheless, uncertainty over the measurement of excess capacity continues to be unusually high and marked both by variations in the way different economic sectors and spending components have been affected by the pandemic, and by uneven price behavior. The size of excess capacity, and in particular the evolution of the pandemic in forthcoming quarters, constitute substantial risks to the macroeconomic forecast presented in this report. Despite the unexpected strength of the recovery, the technical staff continues to project ample excess capacity that is expected to remain on the forecast horizon, alongside core inflation that will likely remain below the target. Domestic demand remains below 2019 levels amid unusually significant uncertainty over the size of excess capacity in the economy. High national unemployment (14.6% for February 2021) reflects a loose labor market, while observed total and core inflation continue to be below 2%. Inflationary pressures from the exchange rate are expected to continue to be low, with relatively little pass-through on inflation. This would be compatible with a negative output gap. Excess productive capacity and the expectation of core inflation below the 3% target on the forecast horizon provide a basis for an expansive monetary policy posture. The technical staff’s assessment of certain shocks and their expected effects on the economy, as well as the presence of several sources of uncertainty and related assumptions about their potential macroeconomic impacts, remain a feature of this report. The coronavirus pandemic, in particular, continues to affect the public health environment, and the reopening of Colombia’s economy remains incomplete. The technical staff’s assessment is that the COVID-19 shock has affected both aggregate demand and supply, but that the impact on demand has been deeper and more persistent. Given this persistence, the central forecast accounts for a gradual tightening of the output gap in the absence of new waves of contagion, and as vaccination campaigns progress. The central forecast continues to include an expected increase of total and core inflation rates in the second quarter of 2021, alongside the lapse of the temporary price relief measures put in place in 2020. Additional COVID-19 outbreaks (of uncertain duration and intensity) represent a significant risk factor that could affect these projections. Additionally, the forecast continues to include an upward trend in sovereign risk premiums, reflected by higher levels of public debt that in the wake of the pandemic are likely to persist on the forecast horizon, even in the context of a fiscal adjustment. At the same time, the projection accounts for the shortterm effects on private domestic demand from a fiscal adjustment along the lines of the one currently being proposed by the national government. This would be compatible with a gradual recovery of private domestic demand in 2022. The size and characteristics of the fiscal adjustment that is ultimately implemented, as well as the corresponding market response, represent another source of forecast uncertainty. Newly available information offers evidence of the potential for significant changes to the macroeconomic scenario, though without altering the general diagnosis described above. The most recent data on inflation, growth, fiscal policy, and international financial conditions suggests a more dynamic economy than previously expected. However, a third wave of the pandemic has delayed the re-opening of Colombia’s economy and brought with it a deceleration in economic activity. Detailed descriptions of these considerations and subsequent changes to the macroeconomic forecast are presented below. The expected annual decline in GDP (-0.3%) in the first quarter of 2021 appears to have been less pronounced than projected in January (-4.8%). Partial closures in January to address a second wave of COVID-19 appear to have had a less significant negative impact on the economy than previously estimated. This is reflected in figures related to mobility, energy demand, industry and retail sales, foreign trade, commercial transactions from selected banks, and the national statistics agency’s (DANE) economic tracking indicator (ISE). Output is now expected to have declined annually in the first quarter by 0.3%. Private consumption likely continued to recover, registering levels somewhat above those from the previous year, while public consumption likely increased significantly. While a recovery in investment in both housing and in other buildings and structures is expected, overall investment levels in this case likely continued to be low, and gross fixed capital formation is expected to continue to show significant annual declines. Imports likely recovered to again outpace exports, though both are expected to register significant annual declines. Economic activity that outpaced projections, an increase in oil prices and other export products, and an expected increase in public spending this year account for the upward revision to the 2021 growth forecast (from 4.6% with a range between 2% and 6% in January, to 6.0% with a range between 3% and 7% in April). As a result, the output gap is expected to be smaller and to tighten more rapidly than projected in the previous report, though it is still expected to remain in negative territory on the forecast horizon. Wide forecast intervals reflect the fact that the future evolution of the COVID-19 pandemic remains a significant source of uncertainty on these projections. The delay in the recovery of economic activity as a result of the resurgence of COVID-19 in the first quarter appears to have been less significant than projected in the January report. The central forecast scenario expects this improved performance to continue in 2021 alongside increased consumer and business confidence. Low real interest rates and an active credit supply would also support this dynamic, and the overall conditions would be expected to spur a recovery in consumption and investment. Increased growth in public spending and public works based on the national government’s spending plan (Plan Financiero del Gobierno) are other factors to consider. Additionally, an expected recovery in global demand and higher projected prices for oil and coffee would further contribute to improved external revenues and would favor investment, in particular in the oil sector. Given the above, the technical staff’s 2021 growth forecast has been revised upward from 4.6% in January (range from 2% to 6%) to 6.0% in April (range from 3% to 7%). These projections account for the potential for the third wave of COVID-19 to have a larger and more persistent effect on the economy than the previous wave, while also supposing that there will not be any additional significant waves of the pandemic and that mobility restrictions will be relaxed as a result. Economic growth in 2022 is expected to be 3%, with a range between 1% and 5%. This figure would be lower than projected in the January report (3.6% with a range between 2% and 6%), due to a higher base of comparison given the upward revision to expected GDP in 2021. This forecast also takes into account the likely effects on private demand of a fiscal adjustment of the size currently being proposed by the national government, and which would come into effect in 2022. Excess in productive capacity is now expected to be lower than estimated in January but continues to be significant and affected by high levels of uncertainty, as reflected in the wide forecast intervals. The possibility of new waves of the virus (of uncertain intensity and duration) represents a significant downward risk to projected GDP growth, and is signaled by the lower limits of the ranges provided in this report. Inflation (1.51%) and inflation excluding food and regulated items (0.94%) declined in March compared to December, continuing below the 3% target. The decline in inflation in this period was below projections, explained in large part by unanticipated increases in the costs of certain foods (3.92%) and regulated items (1.52%). An increase in international food and shipping prices, increased foreign demand for beef, and specific upward pressures on perishable food supplies appear to explain a lower-than-expected deceleration in the consumer price index (CPI) for foods. An unexpected increase in regulated items prices came amid unanticipated increases in international fuel prices, on some utilities rates, and for regulated education prices. The decline in annual inflation excluding food and regulated items between December and March was in line with projections from January, though this included downward pressure from a significant reduction in telecommunications rates due to the imminent entry of a new operator. When controlling for the effects of this relative price change, inflation excluding food and regulated items exceeds levels forecast in the previous report. Within this indicator of core inflation, the CPI for goods (1.05%) accelerated due to a reversion of the effects of the VAT-free day in November, which was largely accounted for in February, and possibly by the transmission of a recent depreciation of the peso on domestic prices for certain items (electric and household appliances). For their part, services prices decelerated and showed the lowest rate of annual growth (0.89%) among the large consumer baskets in the CPI. Within the services basket, the annual change in rental prices continued to decline, while those services that continue to experience the most significant restrictions on returning to normal operations (tourism, cinemas, nightlife, etc.) continued to register significant price declines. As previously mentioned, telephone rates also fell significantly due to increased competition in the market. Total inflation is expected to continue to be affected by ample excesses in productive capacity for the remainder of 2021 and 2022, though less so than projected in January. As a result, convergence to the inflation target is now expected to be somewhat faster than estimated in the previous report, assuming the absence of significant additional outbreaks of COVID-19. The technical staff’s year-end inflation projections for 2021 and 2022 have increased, suggesting figures around 3% due largely to variation in food and regulated items prices. The projection for inflation excluding food and regulated items also increased, but remains below 3%. Price relief measures on indirect taxes implemented in 2020 are expected to lapse in the second quarter of 2021, generating a one-off effect on prices and temporarily affecting inflation excluding food and regulated items. However, indexation to low levels of past inflation, weak demand, and ample excess productive capacity are expected to keep core inflation below the target, near 2.3% at the end of 2021 (previously 2.1%). The reversion in 2021 of the effects of some price relief measures on utility rates from 2020 should lead to an increase in the CPI for regulated items in the second half of this year. Annual price changes are now expected to be higher than estimated in the January report due to an increased expected path for fuel prices and unanticipated increases in regulated education prices. The projection for the CPI for foods has increased compared to the previous report, taking into account certain factors that were not anticipated in January (a less favorable agricultural cycle, increased pressure from international prices, and transport costs). Given the above, year-end annual inflation for 2021 and 2022 is now expected to be 3% and 2.8%, respectively, which would be above projections from January (2.3% and 2,7%). For its part, expected inflation based on analyst surveys suggests year-end inflation in 2021 and 2022 of 2.8% and 3.1%, respectively. There remains significant uncertainty surrounding the inflation forecasts included in this report due to several factors: 1) the evolution of the pandemic; 2) the difficulty in evaluating the size and persistence of excess productive capacity; 3) the timing and manner in which price relief measures will lapse; and 4) the future behavior of food prices. Projected 2021 growth in foreign demand (4.4% to 5.2%) and the supposed average oil price (USD 53 to USD 61 per Brent benchmark barrel) were both revised upward. An increase in long-term international interest rates has been reflected in a depreciation of the peso and could result in relatively tighter external financial conditions for emerging market economies, including Colombia. Average growth among Colombia’s trade partners was greater than expected in the fourth quarter of 2020. This, together with a sizable fiscal stimulus approved in the United States and the onset of a massive global vaccination campaign, largely explains the projected increase in foreign demand growth in 2021. The resilience of the goods market in the face of global crisis and an expected normalization in international trade are additional factors. These considerations and the expected continuation of a gradual reduction of mobility restrictions abroad suggest that Colombia’s trade partners could grow on average by 5.2% in 2021 and around 3.4% in 2022. The improved prospects for global economic growth have led to an increase in current and expected oil prices. Production interruptions due to a heavy winter, reduced inventories, and increased supply restrictions instituted by producing countries have also contributed to the increase. Meanwhile, market forecasts and recent Federal Reserve pronouncements suggest that the benchmark interest rate in the U.S. will remain stable for the next two years. Nevertheless, a significant increase in public spending in the country has fostered expectations for greater growth and inflation, as well as increased uncertainty over the moment in which a normalization of monetary policy might begin. This has been reflected in an increase in long-term interest rates. In this context, emerging market economies in the region, including Colombia, have registered increases in sovereign risk premiums and long-term domestic interest rates, and a depreciation of local currencies against the dollar. Recent outbreaks of COVID-19 in several of these economies; limits on vaccine supply and the slow pace of immunization campaigns in some countries; a significant increase in public debt; and tensions between the United States and China, among other factors, all add to a high level of uncertainty surrounding interest rate spreads, external financing conditions, and the future performance of risk premiums. The impact that this environment could have on the exchange rate and on domestic financing conditions represent risks to the macroeconomic and monetary policy forecasts. Domestic financial conditions continue to favor recovery in economic activity. The transmission of reductions to the policy interest rate on credit rates has been significant. The banking portfolio continues to recover amid circumstances that have affected both the supply and demand for loans, and in which some credit risks have materialized. Preferential and ordinary commercial interest rates have fallen to a similar degree as the benchmark interest rate. As is generally the case, this transmission has come at a slower pace for consumer credit rates, and has been further delayed in the case of mortgage rates. Commercial credit levels stabilized above pre-pandemic levels in March, following an increase resulting from significant liquidity requirements for businesses in the second quarter of 2020. The consumer credit portfolio continued to recover and has now surpassed February 2020 levels, though overall growth in the portfolio remains low. At the same time, portfolio projections and default indicators have increased, and credit establishment earnings have come down. Despite this, credit disbursements continue to recover and solvency indicators remain well above regulatory minimums. 1.2 Monetary policy decision In its meetings in March and April the BDBR left the benchmark interest rate unchanged at 1.75%.

<div class="section abstract"><div class="htmlview paragraph">“New Space" is reshaping the economic landscape of the space industry and has far-reaching implications for technological innovation, business models, and market dynamics. This change, aligned with the digitalization in the world economy, has given rise to innovations in the downstream space segment. This “servitization” of the space industry, essentially, has led to the transition from selling products like satellites or spacecraft, to selling the services these products provide. This also connects to applications of various technologies, like cloud computing, artificial intelligence, and virtualization.</div><div class="htmlview paragraph"><b>Redefining Space Commerce: The Move Toward Servitization</b> discusses the advantages of this shift (e.g., cost reduction, increased access to space for smaller organizations and countries), as well as the challenges, such as maintaining safety and security, establishing standardization and regulation, and managing risks. The implications of this may be far-reaching, affecting not only the space industry but also related fields, such as defense, telecommunications, and activity monitoring. This report also explores the transformative changes happening in the space sector and their impact on economic evaluation and space policy.</div><div class="htmlview paragraph"><a href="https://www.sae.org/publications/edge-research-reports" target="_blank">Click here to access the full SAE EDGE</a>^TM<a href="https://www.sae.org/publications/edge-research-reports" target="_blank"> Research Report portfolio.</a></div></div>

Cooperation between Asia and Latin America and the Caribbean (LAC) is rapidly increasing in the spirit of South-South cooperation. The Asian Development Bank (ADB) and the Inter-American Development Bank (IDB) enter into a new chapter of cooperation in areas such as sustainable integration corridors (trade facilitation, transportation, energy, and telecommunications, including broadband investment and regulation); sustainable cities and climate change; institutional development; social policy and gender; trade and investment regimes; trade finance and private sector development; and cross-regional research and development effectiveness as well as management for development results. This brochure details the challenges and opportunities in the Asia-LAC relationship and discusses the role of the ADB and the IDB.