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URL :  The Few Leading the Many
Author : Jörn Kleinert - Julien Martin - Farid Toubal
Detail : eBook Edition: 2012
 
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 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 find that intra-firm trade in intermediate inputs is a significant channel of influence of business cycle comovement.(From Author)

eBook Contents

Non-technical summary - Abstract - Résumé non technique - Résumé court - Introduction - Sources of Influence - The Data - The Key Role of Foreign Affiliates - Empirical Strategy - Econometric Results - Conclusion - References - Appendix - List of working papers released by CEPII

eBook License: Copyrighted (Personal Use Only by downloading from CEPII)

Free PDF eBook - 762 Kb - 55 Pages
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