This report assesses the economic impact of broadband in an emerging nation. Drawing from the wealth of research literature on economic effects generated on the basis of cross-sectional analyses (e.g. for OECD, Latin America and Arab States), it applies econometric tools and techniques to measure the impact of broadband on the Panamanian economy. Future challenges for Panama include applying the lessons learned from wireless voice services to fixed broadband, and by leveraging its highly competitive industry structure, to accelerate mobile broadband adoption. Wireless broadband represents the appropriate technological platform to meet this challenge.