Message from We are now one year into the fi nancial crisis which erupted in the autumn of 2008 and which has taken its toll on the global economy and fi nancial markets. The fi nancial crisis and associated eco-nomic This crisis has revived long-running debates in economics – not only has it called the doctrine of the free market back into question, it has also reawakened debate over the role of government in infrastructure investment, the meaning of Keyne-sian slowdown are virtually unprecedented in size and scale, as well as the speed with which they have spread. Although stock markets have recov-ered demand management in a globalized era, and whether state investment ‘crowds out’ private sector investment. These debates are very relevant to the ICT industry, which lies at the crossroads of public-private somewhat and some economists are now more optimistic, it is clear that the world will continue to experience the economic aftershocks for some time yet, whilst undertaking the structural adjust-ments sector investment as it upgrades and engages with the long-term transition to Internet Protocol (IP)-based networks. needed to respond fully to life after the crisis. ITU remains deeply concerned by the impact of the fi nancial crisis on its Member States and Sector Members. That is why last autumn, I commissioned this series of reports to monitor and evaluate the impact of the crisis on the ICT industry. This Report examines how policy-makers can respond to the crisis and the role of economic stimulus plans and ICTs in reigniting economic growth. What role can invest-ments In common with many service and utility industries, the Information and Communication Technology (ICT) industry has been impacted by the fi nancial crisis in reduced demand, operational cutbacks and curtailed investment. Nevertheless, the ICT indus-try is a fast-moving, adaptive and resilient industry that stands to benefi t from the large investments announced by governments as part of their stimulus plans over recent months. I remain convinced that, as an essential strategic industry, ICTs offer vital means of boosting economic productivity and gener-ating in ICTs play in economic recovery? Should investments in broadband networks form an essential part of any stimulus plan? Are there any lessons to be learned for effective stimulus or any obvious design fl aws in the way these plans have been structured? economic recovery. 6