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Sectoral Growth Effects of Cross-Border Mergers and Acquisitions


  • Nadia Doytch

    () (University of New Haven, 300 Boston Post Road, West Haven, CT 06516, USA.
    Asian Institute of Management, 123 Paseo de Roxas, Makati City, Metro Manila 1260, Philippines)

  • Merih Uctum

    () (Brooklyn College and the Graduate center of the City University of New York, Ph.D. Program in Economics, NY 10016-4309, USA.)


We analyze the impact on growth of cross-border mergers and acquisition (M&A) sales. Using the GMM methodology we find that most economies benefit from financial service M&A sales. However, some type of capital flows may hurt growth. In some cases M&A sales in manufacturing and the primary sector may lead to deindustrialization in manufacturing industry and/or services industries.

Suggested Citation

  • Nadia Doytch & Merih Uctum, 2012. "Sectoral Growth Effects of Cross-Border Mergers and Acquisitions," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 38(3), pages 319-330.
  • Handle: RePEc:pal:easeco:v:38:y:2012:i:3:p:319-330

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    References listed on IDEAS

    1. Mark Gertler & Simon Gilchrist & Fabio M. Natalucci, 2007. "External Constraints on Monetary Policy and the Financial Accelerator," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 39(2-3), pages 295-330, March.
    2. Backus, David K & Kehoe, Patrick J, 1992. "International Evidence of the Historical Properties of Business Cycles," American Economic Review, American Economic Association, vol. 82(4), pages 864-888, September.
    3. Calvo, Guillermo A., 1983. "Staggered prices in a utility-maximizing framework," Journal of Monetary Economics, Elsevier, vol. 12(3), pages 383-398, September.
    4. Reinhart, Carmen & Calvo, Guillermo, 2000. "When Capital Inflows Come to a Sudden Stop: Consequences and Policy Options," MPRA Paper 6982, University Library of Munich, Germany.
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