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...