Korea, a large net-food importing country, is rapidly opening its doors to agricultural trade. In this study, we investigate the nature and extent of competition between two major exporters, China and the United States, to the Korean food market. We first employ the un-centered correlation...

The emerging literature on firm heterogeneity suggests that trade liberalization raises industry average productivity by forcing its least productive firms to exit. Consequently, resources and market shares are reallocated toward the industry¡¯s more productive firms. We extend...