 A consolidated-by-nationality approach to Irish foreign exposureInternational Economics, 2022, vol. 170, issue C, 235-247 Abstract: How exposed is Ireland to foreign shocks? Relying on residence-based measures of foreign holdings to answer this question can be challenging. These statistics are obscured by the vast presence of Special Purpose Entities in the country. Alternatively, I construct an estimate of the Irish consolidated-by-nationality foreign balance sheet for the period between 2011 and 2019 based on a novel methodology that builds on firm-level data. I find that Ireland's consolidated foreign balance sheet is on average 46.7% smaller relative to its residence-based analogue. I interpret this result as an indication that Ireland is significantly less exposed to foreign shocks than what is suggested by residence-based statistics. Keywords: International financial integration; Financial globalisation; Consolidated-by-nationality statistics (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:inteco:v:170:y:2022:i:c:p:235-247 DOI: 10.1016/j.inteco.2022.05.001 Access Statistics for this article International Economics is currently edited by Valerie Mignon and Marcelo Olarreaga More articles in International Economics from Elsevier |
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