You can see the computer and internet revolutions in firms' spending on software investment, culminating in a peak around the dot-com boom and Y2K rectification work, which can be seen as bumps on top of the wave (Graph 5).
The financial sector of Macao also underwent a mild consolidation since the eruption. As our experience of toxic assets was rather limited, the direct impact of the crisis on Macao financial sector was minimal. In addition, the spillover effect of the huge stimulus package of China has effectively uplifted the Macao economy.