The Happy Few: New Facts on the Internationalization of European Firms Based on Firm-level Evidence
Lack of statistical information at the firm level has so far prevented systematic inclusion of firm-level analysis in the policymaker's standard toolbox. This paper argues that the time is ripe to supplement the policymaking toolbox: firm-level datasets are now available and provide new information that one cannot afford to ignore. The focus of the paper is on the characteristics of European firms involved in international activities through exports or foreign direct investment. The analysis of firm-level evidence reveals some new facts that are simply unobservable at the aggregate level.