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The telecoms boom and bust 1996-2003 and the role of financial markets

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  • Martin Fransman

Abstract

Financial crises are still as much a part of the modern, information-and-communication-technology-based (ICT) economy as they were of previous economies. Why are we apparently unable to learn lessons from the past and avoid what Charles Kindleberger (2000) has called “manias, panics and crashes”? Why is it that our sophisticated stock of information, made readily and relatively cheaply available to us by our investment in ICTs, and our abundant theories and models, have not allowed us to steer clear of these financial excesses? The aim of this paper is to highlight some of the processes and mechanisms that have played a significant role in causing the Telecoms Boom and Bust, 1996-2003. The question of whether anything can be done about these processes and mechanisms in order to try and modify such financial excesses in the future is taken up in the conclusion. Copyright Springer-Verlag Berlin/Heidelberg 2004

Suggested Citation

  • Martin Fransman, 2004. "The telecoms boom and bust 1996-2003 and the role of financial markets," Journal of Evolutionary Economics, Springer, vol. 14(4), pages 369-406, October.
    • Handle: RePEc:spr:joevec:v:14:y:2004:i:4:p:369-406
    DOI: 10.1007/s00191-004-0196-x
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    Cited by:

    1. Binsfeld, Nico & Whalley, Jason & Pugalis, Lee, 2014. "Luxembourg a bastion of state ownership," 25th European Regional ITS Conference, Brussels 2014 101425, International Telecommunications Society (ITS).
    2. Michael Dietrich & Jackie Krafft & Jacques-Laurent Ravix, 2008. "Regulation and governance of the firm," Post-Print hal-00203479, HAL.
    3. Navío-Marco, Julio & Solórzano-García, Marta & Matilla-García, Mariano & Urueña, Alberto, 2016. "Language as a key factor of long-term value creation in mergers and acquisitions in the telecommunications sector," Telecommunications Policy, Elsevier, vol. 40(10), pages 1052-1063.
    4. Jackie Krafft, 2010. "Profiting in the info-communications in the age of broadband: lessons and new considerations," Post-Print hal-00203801, HAL.
    5. Jackie Krafft & Francesco Quatraro & Pier Paolo Saviotti, 2014. "The Dynamics of Knowledge-intensive Sectors' Knowledge Base: Evidence from Biotechnology and Telecommunications," Industry and Innovation, Taylor & Francis Journals, vol. 21(3), pages 215-242, April.
    6. Jackie Krafft & Jacques-Laurent Ravix, 2008. "Corporate Governance in Advanced Economies: Lessons in a Post Financial Crash Era.. Introduction to the Special Issue," Recherches économiques de Louvain, De Boeck Université, vol. 74(4), pages 419-424.
    7. Jackie Krafft, 2008. "Firm," Post-Print hal-00207817, HAL.
    8. Jackie Krafft & Yiping Qu & Francesco Quatraro & Jacques-Laurent Ravix, 2014. "Corporate governance, value and performance of firms: new empirical results on convergence from a large international database," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 23(2), pages 361-397.
    9. Binsfeld, Nico & Whalley, Jason & Pugalis, Lee, 2017. "An analysis of the structure, actors and interrelationships producing Luxembourg's ICT ecosystem," 28th European Regional ITS Conference, Passau 2017 169450, International Telecommunications Society (ITS).
    10. Stefano Colombo & Luca Grilli, 2017. "Should I stay or should I go? Founder’s decision to leave an entrepreneurial venture during an industrial crisis," Industry and Innovation, Taylor & Francis Journals, vol. 24(2), pages 97-121, February.
    11. repec:hal:wpaper:hal-00786664 is not listed on IDEAS
    12. Binsfeld, Nico & Whalley, Jason, 2019. "Innovation ecosystems in small countries – The case of Luxembourg," 30th European Regional ITS Conference, Helsinki 2019 205170, International Telecommunications Society (ITS).
    13. Binsfeld, Nico & Pugalis, Lee & Whalley, Jason, 2015. "ICT ecosystems in small countries: an analysis of Luxembourg," 26th European Regional ITS Conference, Madrid 2015 127127, International Telecommunications Society (ITS).
    14. Navio-Marco, J & Solorzano-Garcia, M & Urueña, A., 2015. "Language As Key Factor Of Long-Term Value Creation In Mergers And Acquisitions In The Telecommunications Sector," 26th European Regional ITS Conference, Madrid 2015 127170, International Telecommunications Society (ITS).
    15. Jackie Krafft & Yiping Qu & Jacques-Laurent Ravix, 2008. "Corporate governance, industry dynamics and firms performance on the stock market," Post-Print hal-00203544, HAL.

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