CEPR Discussion Paper: Host-Country Financial Development and Multinational Activity
Authors: Kamran Bilir, Davin Chor, Kalina Manova Date: February 2019 Abstract: This paper evaluates the influence of host-country financial conditions on the global operations of multinational firms. Using detailed U.S. data, we establish that financial development in a country is associated with relatively more entry by multinational affiliates, as well as with higher aggregate affiliate[…]