Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/19518
Authors: 
Buch, Claudia M.
Lipponer, Alexander
Year of Publication: 
2005
Series/Report no.: 
Discussion paper Series 1 / Volkswirtschaftliches Forschungszentrum der Deutschen Bundesbank 2005,09
Abstract: 
Globalization has effected 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 real depreciation of the domestic currency.
Subjects: 
Business cycles
multinational activity
FDI
JEL: 
F23
E3
Document Type: 
Working Paper

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