@techreport{Buch2005Business,
abstract = {Globalization has affected business cycle developments in OECD countries and has
increased activities of firms across national borders. This paper analyzes whether these
two developments are linked. We use a new firm-level dataset on the foreign activities
of German firms to test whether foreign activities are affected by business cycle
developments. We aggregate the data by the sector of the reporting firm, the sector of
the foreign affiliate, and the host country. Data are annual and cover the period 1989-
2002. We find that German outward FDI increases in response to positive cyclical
developments abroad and in response to a depreciation of the domestic currency.},
address = {Kiel},
author = {Claudia M. Buch and Alexander Lipponer},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {E3; F23; 330; business cycles; multinational activity; FDI; panel regressions; Direktinvestition; Multinationales Unternehmen; Deutsch; Konjunktur; Abwertung; Kaufkraftparit\"{a}t; Euro; Sch\"{a}tzung; Welt; Deutschland},
language = {eng},
number = {1245},
publisher = {Kiel Institute for the World Economy (IfW)},
title = {Business Cycles and FDI: Evidence from German Sectoral Data},
type = {Kieler Arbeitspapiere},
url = {http://hdl.handle.net/10419/17800},
year = {2005}
}
