Lee, S. and Makhija, M. (2009), Flexibility in internationalization: is it valuable during an economic crisis?. Strategic Management Journal., 30: 537-555. doi:10.1002/smj.742

This article investigates the value of strategic flexibility provided by firms’ international foreign direct investment and exporting investment during unanticipated yet significant economic crisis.

Frankel, J., & Saravelos, G. (2012). Can leading indicators assess country vulnerability? Evidence from the 2008–09 global financial crisis. Journal of International Economics, 87(2), 216-231.

This article investigates whether leading indicators can help explain the cross-country incidence of the 2008–09 financial crisis. Six different variables are used to measure crisis incidence: drops in GDP and industrial production, currency depreciation, stock market performance, reserve losses, and participation in an IMF program

Melitz, M. J. (2003). The impact of trade on intra‐industry reallocations and aggregate industry productivity. Econometrica, 71(6), 1695-1725.

This paper provides an extension of Krugman's trade model that incorporates firm level productivity differences. Firms with different productivity levels coexist in an industry because each firm faces initial uncertainty concerning its productivity before making an irreversible investment to enter the industry. Entry into the export market is also costly, but the firm's decision to export occurs after it gains knowledge of its productivity.