Abstract
This article analyzes the impact of international banking and foreign direct investment on firms. Using a panel of Central European exporters, I find that being foreign-owned and borrowing from international banks has a positive impact on firms' export revenues. Additionally, I discover that the Hungarian government's purchase of two international banks led to a decrease in loans among domestically owned exporters with no effect on loans of multinational subsidiaries. These results provide evidence that foreign-owned firms are better able to smooth their borrowing behavior during bank turnovers, and that the firms most affected by anti-global banking policies are locally owned firms.