Recent debates suggest that the global economy may enter a deglobalization phase. The COVID-19 pandemic and the conflict in Ukraine are unprecedented global shocks that question the levels of global economic integration reached so far. This study investigates the investment decisions...

In this contribution, we investigate the role of ownership chains developed by multinational enterprises across different national borders. First, we document that parent companies control a majority (58%) of foreign subsidiaries through indirect control relationships involving at least two...

This paper analyzes the performance of global value chains during the trade collapse. To do so, it exploits a unique transaction-level dataset on French firms containing information on cross-border monthly transactions matched with data on worldwide intra-firm linkages as defined by property...

offshoring undertaken in the new members of EU in the period 1998-2006. Recent empirical evidence (Danninger, Joutz 2007 IMF) shows that dominant factors explaining the increase in German market shares are trade relationships with fast growing countries and regionalized production in the export...

We test the impact of import penetration on the productivity of a sample of roughly 35,000 Italian manufacturing firms operating in the period 1996-2003, considering the impact on productivity of both import penetration in the same industry and import penetration in the up-stream industries. We...

This paper analyzes the performance of global value chains during the trade collapse. To do so, it exploits a unique transaction-level dataset on French firms containing information on cross-border monthly transactions matched with data on worldwide intrafirm linkages as defined by property...

We explore the nature of Business Groups, that is network-like forms of hierarchical organization between legally autonomous …rms spanning both within and across national borders. Exploiting a unique dataset of 270,474 headquarters controlling more than 1,500,000 (domestic and foreign) a¢...