Following the stock market crash on 19 October 1987, the securities industry contracted nation-wide. In New York City, over 10 800 jobs were lost within eight months of the crash. Bonuses, a major component of salaries in the industry, also declined. The short-run induced effects on regional...

Recent innovations in telecommunications and computing, enhanced by a global wave of deregulation and the emergence of post-Fordist production regimes, have unleashed profound transformations of various service sectors in the global economy. This paper first reviews the geographical...