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Surviving the Crisis: Foreign Multinationals vs Domestic Firms in Ireland

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Author Info

  • Godart, Olivier

    ()
    (Kiel Institute for the World Economy)

  • Görg, Holger

    ()
    (Kiel Institute for the World Economy)

  • Hanley, Aoife

    ()
    (Kiel Institute for the World Economy)

Abstract

Starting from the observation that all firms in Ireland (foreign and domestic in manufacturing and services industries) were hit by the crisis, the paper asks whether there is a difference in the behaviour of foreign and domestic firms. One hypothesis is that foreign multinationals are less linked into the Irish economy, so more likely to leave once the economy is hit by a negative shock. The paper discusses background hypotheses before giving empirical evidence from firstly aggregate data, and secondly firm-level observations. The analysis of the latter suggests that foreign firms are not more likely to leave during the crisis than Irish firms. Some policy conclusions are offered in the paper.

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Bibliographic Info

Paper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 5882.

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Length: 27 pages
Date of creation: Jul 2011
Date of revision:
Publication status: published in: The World Economy, 2012, 35 (10), 1305-1321
Handle: RePEc:iza:izadps:dp5882

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Keywords: Ireland; firm survival; financial crisis;

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References

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  1. Dunne, Paul & Hughes, Alan, 1994. "Age, Size, Growth and Survival: UK Companies in the 1980s," Journal of Industrial Economics, Wiley Blackwell, Wiley Blackwell, vol. 42(2), pages 115-40, June.
  2. Robert E. Baldwin & Robert E. Lipsey & J. David Richards, 1998. "Geography and Ownership as Bases for Economic Accounting," NBER Books, National Bureau of Economic Research, Inc, National Bureau of Economic Research, Inc, number bald98-1.
  3. Dixit, A., 1988. "Entry And Exit Decisions Under Uncertainty," Papers, Princeton, Department of Economics - Financial Research Center 91, Princeton, Department of Economics - Financial Research Center.
  4. Laura Alfaro & Andrés Rodriguez-Clare, 2004. "Multinationals and Linkages: An Empirical Investigation," JOURNAL OF LACEA ECONOMIA, LACEA - LATIN AMERICAN AND CARIBBEAN ECONOMIC ASSOCIATION.
  5. Barry, F & Bradley, J, 1997. ""FDI and Trade : The Irish Host-Country Experience"," Papers, College Dublin, Department of Political Economy- 97/13, College Dublin, Department of Political Economy-.
  6. Elhanan Helpman & Marc J. Melitz & Stephen R. Yeaple, 2004. "Export Versus FDI with Heterogeneous Firms," American Economic Review, American Economic Association, American Economic Association, vol. 94(1), pages 300-316, March.
  7. Robert E. Baldwin & Robert E. Lipsey & J. David Richardson, 1998. "Introduction to "Geography and Ownership as Bases for Economic Accounting"," NBER Chapters, National Bureau of Economic Research, Inc, in: Geography and Ownership as Bases for Economic Accounting, pages 1-8 National Bureau of Economic Research, Inc.
  8. Frances Ruane & Ali U?ur, 2005. "Labour Productivity and Foreign Direct Investment in Irish Manufacturing Industry: A Decomposition Analysis," The Institute for International Integration Studies Discussion Paper Series, IIIS iiisdp027, IIIS.
  9. Agarwal, Rajshree & Audretsch, David B, 2001. "Does Entry Size Matter? The Impact of the Life Cycle and Technology on Firm Survival," Journal of Industrial Economics, Wiley Blackwell, Wiley Blackwell, vol. 49(1), pages 21-43, March.
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Cited by:
  1. Alessia LO TURCO & Daniela MAGGIONI, 2012. "The micro evolution of trade and turnover in Turkey under the global crisis," Working Papers, Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali 376, Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali.
  2. Anna Maria Ferragina & Fernanda Mazzotta & Erol Taymaz & Kamil Yilmaz, 2013. "The Impact Of Fdi On Firm Survival And Employment: A Comparative Analysis For Turkey And Italy," ERSA conference papers ersa13p1211, European Regional Science Association.
  3. Iwasaki, Ichiro, 2014. "Global financial crisis, corporate governance, and firm survival:," Journal of Comparative Economics, Elsevier, vol. 42(1), pages 178-211.
  4. Morgenroth, Edgar, 2013. "The Regional Dimension of the Unemployment Crisis," Research Notes, Economic and Social Research Institute (ESRI) RN2012/4/3, Economic and Social Research Institute (ESRI).
  5. Adalgiso Amendola & Anna Maria Ferragina & Rosanna Pittiglio & Filippo Reganati, 2012. "Are exporters and multinational firms more resilient over a crisis? First evidence for manufacturing enterprises in Italy," Economics Bulletin, AccessEcon, vol. 32(3), pages 1914-1926.
  6. repec:esr:wpaper:rn2012/4/3 is not listed on IDEAS

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