-concentration trade-off (in which only the most productive firms have a physical presence in foreign markets). Allowing for M&As raises …

countries with BITs is roughly as large as the number of country-pairs that belong to bilateral or regional preferential trade … model of world trade and foreign direct investment with three factors, two products, and explicit natural as well as policy … trade and investment costs among multiple countries in the presence of national and multinational firms. The empirical model …

China's increased trade with and investment in Africa have boosted the continent's economic growth but have also … widespread across host countries, independent of host countries' market size and trade costs, but is negatively correlated with …

transfer across production sites is infeasible. Furthermore, the analysis provides novel insights into the trade pattern … reverse the direction of (net) trade flows …