National oil companies (NOCs) have invested hundreds of billions of dollars in foreign oil and gas assets. Why have some governments increased their NOC outward investments, while others have not? I argue that domestic structures can influence a government's calculus that potential benefits,...

How do crises affect trade policy? We reconcile starkly diverging accounts in the literature by showing that economic adversity generates endogenous incentives not only for protection, but also for liberalization. We first develop formally the mechanisms by which two features of shocks -...