Boom and Bust in Telecommunications
FRB Richmond Economic Quarterly, Vol. 89, No. 4, Fall 2003, pp. 1-24
24 Pages Posted: 5 Dec 2012
Date Written: 2003
Abstract
A transformation of the technological and regulatory environment for telecommunications precipitated a massive boom in the sector, beginning in 1997. Market forecasts of the future of telecommunications became highly uncertain and, as it turned out, highly inaccurate. A dramatic bust began in 2000. The boom and bust in telecommunications can be understood only within the context of these technological and regulatory changes.
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