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Abstract We analyze the evolution of foreign direct investment ( FDI ) inflows to developing and emerging countries around financial crises. We empirically examine the Fire‐Sale FDI hypothesis and describe the pattern of FDI inflows surrounding financial crises. We also add a more granular detail about the types of financial crises and their potentially differential effects on FDI . We distinguish between mergers and acquisitions ( M on the contrary, financial crises are shown to affect FDI flows and M & A activity negatively.
Stoddard et al. (Fri,) studied this question.