Surviving the Global Financial Crisis: Foreign Ownership and Establishment Performance

DSpace/Manakin Repository

Surviving the Global Financial Crisis: Foreign Ownership and Establishment Performance

Citable link to this page

 

 
Title: Surviving the Global Financial Crisis: Foreign Ownership and Establishment Performance
Author: Alfaro, Laura; Chen, Maggie

Note: Order does not necessarily reflect citation order of authors.

Citation: Alfaro, Laura, and Maggie Chen. "Surviving the Global Financial Crisis: Foreign Ownership and Establishment Performance." American Economic Journal: Economic Policy 4, no. 3 (August 2012): 30–55.
Full Text & Related Files:
Abstract: We examine the differential response of establishments to the recent global financial crisis with particular emphasis on the role of foreign ownership. Using a worldwide establishment panel dataset, we investigate how multinational subsidiaries around the world responded to the crisis relative to local establishments. We find that first, multinational subsidiaries fared on average better than local counterfactuals with similar economic characteristics. Second, among multinational subsidiaries, establishments sharing stronger vertical production and financial linkages with parents exhibited greater resilience. Finally, in contrast to the crisis period, the effect of foreign ownership and linkages on establishment performance was insignificant in non-crisis years.
Published Version: https://www.aeaweb.org/articles.php?doi=10.1257/pol.4.3.30
Other Sources: http://www.nber.org/papers/w17141.pdf
Terms of Use: This article is made available under the terms and conditions applicable to Open Access Policy Articles, as set forth at http://nrs.harvard.edu/urn-3:HUL.InstRepos:dash.current.terms-of-use#OAP
Citable link to this page: http://nrs.harvard.edu/urn-3:HUL.InstRepos:16422768
Downloads of this work:

Show full Dublin Core record

This item appears in the following Collection(s)

 
 

Search DASH


Advanced Search
 
 

Submitters