Claessens, Stijn; Tong, Hui; Wei, Shang-Jin - In: Journal of International Economics 88 (2012) 2, pp. 375-387
Using accounting data for 7722 non-financial firms in 42 countries, we examine how the 2007–2009 crisis affected firm performance and how various linkages propagated shocks across borders. We isolate and compare effects from changes in business cycle, international trade, and external...