TY - BOOK ID - 133955603 TI - Surviving the Global Financial Crisis : Foreign Ownership and Establishment Performance AU - Alfaro, Laura AU - Chen, Maggie. AU - National Bureau of Economic Research. PY - 2012 PB - Washington, D.C., The World Bank, DB - UniCat KW - Trade KW - International Factor Movements and International Business KW - Financial Aspects of Economic Integration UR - https://www.unicat.be/uniCat?func=search&query=sysid:133955603 AB - This paper examines how different establishments performed during the recent global financial crisis, focusing on the role of foreign ownership. The paper investigates how foreign ownership affected establishments' responses to negative economic shocks, using a cross-country panel dataset with detailed information on operation, location and industry for more than 12 million establishments from 2005-2008. The evidence shows that multinational subsidiaries on average fared better than local counterfactuals with similar economic characteristics. Among multinational subsidiaries, establishments with stronger production and financial linkages with parent companies showed greater resilience. Finally, in contrast to the crisis period, the impact of foreign ownership and linkages on an establishment's performance was insignificant in non-crisis years. ER -