We use rich firm-level data and national input-output tables from 17 countries over the 2002-2005 period to test new and existing hypotheses about the impact of foreign direct investment (FDI) on the efficiency of domestic firms in the host country (i.e., spillovers). We document that backward...

Foreign subsidiary performance and market efficiency effects are estimated and confronted in this paper using a rich firm-level panel for Polish manufacturing. Besides estimating total factor productivity, other performance measures are calculated and contrasted such as labor productivity,...

Emerging markets have long been the recipient of foreign direct investment (FDI) from the world’s more advanced countries. They have used this to their advantage and actively attracted inward FDI as part of their growth and development strategies. However, emerging markets have since spurred...

This paper contributes to the literature on financial contagion by assessing dynamic spillover effects from two key markets (China and the U.S.) to six major emerging economies from different regions, using wavelet analysis to differentiate contagion from market interdependence. Few studies...