This study analyzes the dynamic effect of FDI on local firms' productivity by relaxing the standard implicit assumption that technological spillovers are immediate and pfirmanent. We find that the entry of majority foreign owned firms has a short run negative effect on the productivity of local...

We analyse how the choice of reform speed and economic growth affect one another.We estimate a system of three equations where economic growth, economic reform and FDI are jointly determined. New reforms affect economic growth negatively, whereas the level of past reform leads to higher growth...

Many countries strive to attract foreign direct investment (FDI) hoping that knowledge brought by multinationals will spill over to domestic industries and increase their productivity. While the empirical studies have cast doubt on the existence of horizontal spillovers from FDI in developing...

This study uses a new, innovative measure of trade protection and finds that less trade protection is associated with higher income per capita, using data from 131 developed and developing countries.

Using a unique data set from the Czech Republic for 1994-2003, this study examines the relationship between a firm's liquidity constraints and its supply linkages with multinational corporations (MNCs). The empirical analysis indicates that Czech firms supplying MNCs are less credit constrained...

Many firms cite financial constraints as some of the most important impediments to their investment and growth. Using a unique data set from the Czech Republic this paper investigates the importance of financing constraints in the context of exporters. It finds that exporters are less...

Using a unique data set from the Czech Republic for 1994-2003, this study examines the relationship between a firm's liquidity constraints and its supply linkages with multinational corporations (MNCs). The empirical analysis indicates that Czech firms supplying MNCs are less credit constrained...

This paper documents a trend towards deglobalization in European-based multinational networks for the period 2010-2019. In the second half of the decade, the number of foreign contraction episodes shows an increasing trend, while the number of foreign expansions decreased substantially. Foreign...

This paper empirically examines the effects of financial crises on the organization of production of multinational enterprises. We construct a panel of European multinational networks from 2003 through 2015. We use as a financial shock the increase in risk premia between August 2007 and July...

The abandonment of central planning led to considerable output declines in countries of the firmer Soviet-bloc. The magnitude and length of the output declines, as well as recovery experiences have been very diverse. This paper describes and examines the impact of various detfirminants of output...