Conconi, Paola; Sapir, André; Zanardi, Maurizio - C.E.P.R. Discussion Papers - 2013
serve it, and whether to do so through exports or foreign affiliate sales. We show that a firm may first test the foreign … market via exports, before engaging in foreign direct investment (FDI). To assess the evidence, we exploit a unique dataset … of firm-level exports and FDI in individual destination countries, covering all Belgian companies over the 1998 …