TELECOMMUNICATIONS AND THE GLOBALIZATION OF FINANCIAL SERVICES∗
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Abstract
Financial services are undergoing a major period of internationalization. National markets are interlinked by telecommunications, a process induced through deregulation and new communications technologies. This paper reviews the recent, intertwined trends in the finance and telecommunications industries in light of urban and regional restructuring theory, cites several company-specific examples, explores the impacts on the international urban hierarchy and the labor process (e.g., back offices), and assesses the role of teleports. Finally, it offers an agenda for further research.