IDEAS home Printed from https://ideas.repec.org/a/cii/cepiie/2022-q2-170-15.html

A consolidated-by-nationality approach to Irish foreign exposure

Author

Listed:
  • André Sanchez Pacheco

Abstract

How exposed is Ireland to foreign shocks? Relying on residence-based measures of foreign holdings to answer this question can be challenging. These statistics are obscured by the vast presence of Special Purpose Entities in the country. Alternatively, I construct an estimate of the Irish consolidated-by-nationality foreign balance sheet for the period between 2011 and 2019 based on a novel methodology that builds on firm-level data. I find that Ireland's consolidated foreign balance sheet is on average 46.7% smaller relative to its residence-based analogue. I interpret this result as an indication that Ireland is significantly less exposed to foreign shocks than what is suggested by residence-based statistics.

Suggested Citation

  • André Sanchez Pacheco, 2022. "A consolidated-by-nationality approach to Irish foreign exposure," International Economics, CEPII research center, issue 170, pages 235-247.
    • Handle: RePEc:cii:cepiie:2022-q2-170-15
    as

    Download full text from publisher

    File URL: https://www.sciencedirect.com/science/article/pii/S2110701722000361
    Download Restriction: no
    ---><---

    Other versions of this item:

    Citations

    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. A Consolidated-by-Nationality Approach to Irish Foreign Exposure
      by The Irish Economy in The Irish Economy on 2021-12-07 13:45:38

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Agustín Bénétrix & André Sanchez, 2023. "Corporate Taxation and International Financial Integration: U.S. evidence from a consolidated perspective," Oxford Open Economics, Oxford University Press, vol. 2, pages 47-66.
    2. Roland Beck & Antonio Coppola & Angus Lewis & Matteo Maggiori & Martin Schmitz & Jesse Schreger, 2024. "The geography of capital allocation in the euro area," IFC Bulletins chapters, in: Bank for International Settlements (ed.), External statistics in a fragmented and uncertain world, volume 62, Bank for International Settlements.
    3. Golden, Brian & Maqui, Eduardo, 2023. "How ‘special’ are international banks sponsoring Irish-resident SPEs?," Finance Research Letters, Elsevier, vol. 52(C).
    4. Arrigoni, Simone, 2024. "Who gets the flow? Financial globalisation and wealth inequality," Journal of Macroeconomics, Elsevier, vol. 81(C).
    5. André Sanchez Pacheco, . "Consolidated foreign wealth of nations: Nationality-based measures of international exposure," UNCTAD Transnational Corporations Journal, United Nations Conference on Trade and Development.

    More about this item

    Keywords

    ;
    ;
    ;

    JEL classification:

    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cii:cepiie:2022-q2-170-15. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: the person in charge (email available below). General contact details of provider: https://edirc.repec.org/data/cepiifr.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.