Kiel Working Papers, Kiel Institute for World Economics
No 1700:
Surviving the crisis: foreign multinationals vs domestic firms
Olivier N. Godart, Holger Görg and Aoife Hanley
Abstract: Starting from the observation that all firms in Ireland
(foreign and domestic in manufacturing and services industries) were hit by
the crisis, the paper asks whether there is a difference in the behaviour
of foreign and domestic firms. One hypothesis is that foreign
multinationals are less linked into the Irish economy, so more likely to
leave once the economy is hit by a negative shock. The paper discusses
background hypotheses before giving empirical evidence from firstly
aggregate data, and secondly firm-level observations. The analysis of the
latter suggests that foreign firms are not more likely to leave during the
crisis than Irish firms. Some policy conclusions are offered in the
paper
Keywords: firm survival, financial crisis, Ireland; (follow links to similar papers)
JEL-Codes: F23; (follow links to similar papers)
23 pages, May 2011
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