Using recent data from Chinese manufacturing industry and the generalised propensity score, this paper establishes economically significant causal effects of foreign acquisition on domestic and export market dynamics. Copyright 2009 The Authors. Journal compilation 2009 Blackwell Publishing Ltd.

<heading format="display" id="h1" implicit="yes" level="1">Abstract</heading> This paper provides a novel analysis of the South Korean financial crisis drawing on the findings of a unique survey of IMF&sol;World Bank and South Korean experts. The survey reveals that over-optimism and inadequate recognition of financial risks inadvertently led to excessive risk-taking...