打破无形的障碍

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - Improved internet infrastructure significantly impacts supply chains and economic activity, particularly in Turkiye, leading to enhanced connectivity that diversifies supplier networks and reduces costs associated with information acquisition and communication [4][11][23] - The expansion of fiber-optic networks has resulted in a 2.2% increase in real income in the median province of Turkiye, highlighting the economic benefits of digital infrastructure investments [4][13][23] Summary by Sections Introduction - The paper discusses the role of high-speed internet in facilitating business-to-business transactions and enhancing economic growth through improved communication and collaboration [10][11] Background and Data - Turkiye's fiber-optic network expanded significantly from 2012 to 2019, covering 390,800 kilometers, which has led to a fivefold increase in fiber internet subscribers [31][34] - The data used in the analysis includes firm-to-firm transaction data, internet availability, and regional economic data, allowing for a comprehensive assessment of the impact of internet connectivity on firms [35][39] Empirical Evidence - The rollout of fiber-optic cables has positively affected firms' input sourcing strategies, leading to a reallocation of input purchases towards provinces with better internet connectivity [60][64] - Firms have diversified their supplier base, sourcing from more suppliers and distributing purchases more equitably among them due to improved internet access [64][66] Model and Estimation - A spatial equilibrium model is employed to quantify the effects of internet connectivity on firms' input sourcing decisions, revealing that better connectivity reduces both communication and information acquisition costs [20][22][23] - The model estimates significant elasticities of firm-to-firm trade with respect to internet connectivity, indicating that improved fiber connectivity enhances firms' ability to access a wider variety of inputs [22][23] Robustness Checks - The findings are robust to various checks, including the inclusion of additional controls and alternative measures of fiber connectivity, confirming the positive impact of internet infrastructure on firms' sourcing strategies [68][70]