Prague Economic Papers 2017, 26(3):345-359 | DOI: 10.18267/j.pep.617

Multinational Resilience or Dispensable Jobs? German FDI and Employment in the Czech Republic Around the Great Recession

Michael Moritz1, Bastian Stockinger2, Merlind Trepesch3
1 Institute for Employment Research (IAB), Nuremberg, Germany (michael.moritz@iab.de)
2 Institute for Employment Research (IAB), Nuremberg, Germany (bastian.stockinger@iab.de)
3 Institute for Employment Research (IAB), Nuremberg, Germany (merlind.trepesch@iab.de)

This article investigates the employment development in Czech-based firms in German ownership in the years around the Great Recession of 2008/2009. The intense involvement of German firms in the economy of the neighbouring country via foreign direct investment (FDI) raises a question whether under the conditions of a historically deep global downturn, the Czech employees in multinational companies were confronted with an increased volatility of their jobs. Using a unique firm-level dataset, we contrast the affiliates of German investors with purely Czech-owned enterprises. Our findings indicate that in the years before the crisis, firms with German capital exhibited a noticeably more positive employment development. The results from the year 2008 onwards give reason to the conclusion that the German-owned firms played a stabilizing role for the Czech labour market during the recession.

Klíčová slova: financial crisis, multinational firms, foreign direct investment, employment volatility, Germany, the Czech Republic
JEL classification: F23, G01, J21

Zveřejněno: 1. červen 2017  Zobrazit citaci

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Moritz, M., Stockinger, B., & Trepesch, M. (2017). Multinational Resilience or Dispensable Jobs? German FDI and Employment in the Czech Republic Around the Great Recession. Prague Economic Papers, 26(3), 345-359. doi: 10.18267/j.pep.617
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