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Tracing the International Transmission of a Crisis Through Multinational Firms

Biermann, Marcus; Huber, Kilian - National Bureau of Economic Research - 2023

We show that multinational firms transmit shocks across countries through their internal capital markets. We study a credit supply shock to parent firms in Germany. International affiliates outside Germany supported their parents through internal lending, became financially constrained...

Persistent link: https://www.econbiz.de/10014247983

Internationalization and the evolution of corporate valuation

Levine, Ross - 2005

"By documenting the evolution of Tobin's "q" before, during, and after firms internationalize, this paper provides evidence on the bonding, segmentation, and market timing theories of internationalization. Using new data on 9,096 firms across 74 countries over the period 1989-2000, we find that...

Persistent link: https://www.econbiz.de/10010522397

Combinatorial Discrete Choice : A Quantitative Model of Multinational Location Decisions

Arkolakis, Costas; Eckert, Fabian; Shi, Rowan - National Bureau of Economic Research - 2023

We introduce a general quantifiable framework to study the location decisions of multinational firms. In the model, firms choose in which locations to pay the fixed costs of setting up production, taking into account potential complementarities among production locations. The firm's location...

Persistent link: https://www.econbiz.de/10014437008

Internationalized Production in Developed and Developing Countries and in Industry Sectors

Lipsey, Robert E. - 1998

Internationalized production, that is, production in a country controlled by firms based in another country, grew from about 4.5% of world output in 1970 to over 7% in 1995. The importance of internationalized output fell substantially in developing countries until around 1990 but has been been...

Persistent link: https://www.econbiz.de/10012472403

Internationalized Production in World Output

Lipsey, Robert E. - 1995

,' which are about 60 percent of world output. Given all the attention that 'globalization' has received from scholars …

Persistent link: https://www.econbiz.de/10012473482

The Internationalization of Production

Lipsey, Robert E. - 1989

The degree of internationalizaton of the enterprise or business sectors of many countries, as measured by the ratio of direct investment abroad to domestic wealth or assets, or of assets or employment abroad to that at home, has been growing over the last twenty years or more. The exception to...

Persistent link: https://www.econbiz.de/10012476130

Multinational Expansion in Time and Space

Garetto, Stefania - 2019

and space and for predicting the effects of globalization shocks …

Persistent link: https://www.econbiz.de/10012479754

International Comovement in the Global Production Network

Huo, Zhen - 2019

This paper provides a general and unified framework to study the role of production networks in international GDP comovement. We first derive an additive decomposition of bilateral GDP comovement into components capturing shock transmission and shock correlation. We quantify this decomposition...

Persistent link: https://www.econbiz.de/10012479927

Innovation, Knowledge Diffusion, and Globalization

Lind, Nelson - 2018

We review a recent body of theoretical literature that links the creation and diffusion of knowledge and technology to openness. We analyze two channels through which the spread of new ideas occurs: international trade and the activity of multinational firms (multinational production). The...

Persistent link: https://www.econbiz.de/10012480722

The IT Revolution and the Globalization of R&D

Branstetter, Lee G. - 2018

markets. One of the distinguishing features of the R&D globalization phenomenon is its concentration within the software … three important phenomena: (1) the globalization of R&D, (2) the growing importance of software and IT to firm innovation … large quantities of STEM workers who possessed IT and software skills. Our findings support the view that the globalization …

Persistent link: https://www.econbiz.de/10012453013