Still standing: how European firms weathered the crisis - The third EFIGE policy report

Gábor Békés, László Halpern (), Miklós Koren and Balázs Muraközy
Authors registered in the RePEc Author Service: Gábor Békés

in Blueprints from Bruegel

Abstract: This research output confirms the strength of the approach underpinning the EFIGE project, which is based on the recognition that firms are heterogeneous in the extent and the pattern of their internationalisation, as they are in many other respects. The project provides more, and more precise, evidence of what makes firms successful and therefore also what makes countries successful in the context of globalisation. Internationalisation, however, also makes firms vulnerable to shocks affecting international trade and may transform them into agents of propagation of global downturns. At the time of the Great Recession of 2009, there was intense speculation about the reasons why trade collapsed much more than output. It was sometimes claimed that global supply chains were not only propagators, but also multipliers of international fluctuations. This report by László Halpern and his colleagues makes use of the fact that the EFIGE survey was â?? by accident â?? conducted in 2009 and â?? by design â?? included questions about the firmsâ?? response to the global crisis. It provides a fascinating account of what happened to them in an especially turbulent environment. The stylised facts presented in this report are important to bear in mind at a time when Europe is heading for another severe downturn.

Date: Written 2011-12
References: Add references at CitEc
Citations View citations in EconPapers (1) Track citations by RSS feed

Downloads: (external link)
http://www.bruegel.org/download/parent/661-still-s ... efige-policy-report/ (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: http://EconPapers.repec.org/RePEc:bre:bluprt:661

Access Statistics for this book

More books in Blueprints from Bruegel
Contact information at EDIRC.
Series data maintained by Bruegel ().