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Future wireless systems are expected to be characterized by increasing convergence between networks and further development of reconfigurable radio systems. In parallel with this, demand for radio spectrum from these systems will increase, as users take advantage of high quality multimedia services. This article aims to investigate and review the possibilities for the dynamic allocation of spectrum to different radio networks operating in a composite reconfigurable wireless system. The article first looks into the current interest of regulators in this area, before describing some possible schemes to implement dynamic spectrum allocation and showing some example performance results. Following this, the technical requirements that a DSA system would have, in terms of reconfigurable system implementation, are discussed.