全球智库信息集成服务系统(G2TT): DP9129 The Few Leading The Many: Foreign Affiliates and Business Cycle Comovement

G2TT

来源类型	Discussion paper
规范类型	论文
来源ID	DP9129
	DP9129 The Few Leading The Many: Foreign Affiliates and Business Cycle Comovement
	Farid Toubal; Jörn Kleinert; Julien Martin
发表日期	2012-09-16
出版年	2012
语种	英语
摘要	This paper uses micro-data on balance sheets, trade, and the nationality of ownership of firms in France to investigate the effect of foreign multinationals on business cycle comovement. We first show that foreign affiliates, which represent a tiny fraction of all firms, are responsible for a high share of employment, value added, and trade both at the national and at the regional levels. We also show that the distribution of foreign affiliates across French regions differs with the nationality of the parent. We then show that foreign affiliates increase the comovement of activities between their region of location and their country of ownership. We also find that intra-firm trade in intermediate inputs is a significant channel of influence of business cycle comovement. These findings suggest that the international transmission of shocks is partly due to linkages between affiliates and their foreign parents, and that a few multinational companies drive a non-negligible part of business cycle comovement.
主题	International Trade and Regional Economics
关键词	Granularity Business cycles Multinational firms Intra-firm trade
URL	https://cepr.org/publications/dp9129
来源智库	Centre for Economic Policy Research (United Kingdom)
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/537963
推荐引用方式 GB/T 7714	Farid Toubal,Jörn Kleinert,Julien Martin. DP9129 The Few Leading The Many: Foreign Affiliates and Business Cycle Comovement. 2012.