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No.
A bit of a longer answer:
A touch attack is an attack which delivers it's full force with even the most glancing of blows. Thus, spells are touch attacks as they just need to graze. An electrified wire (shocking grasp) is just as deadly if it barely touches you as if it slams full force into your chest.
Mechanically, touch attacks ignore armor bonus to AC, which is the armor's ability to disperse the force of blows and turn otherwise true blows away (that is, they both cushion and deflect). Neither of those would help against the aforementioned shocking grasp.
Armor will definitely help protect you against somebody's fist, though.
For proof, have somebody punch you in the face as hard as they can, then repeat, but this time put a pillow over your face and a cast iron pan over the pillow. Have them punch the pan as hard as they can and see who comes out on top.