This paper studies the cross-country patterns of risky innovation and growth through the lens of international trade. We use a simple theoretical framework of risky quality upgrading by firms under varying levels of financial development to derive two predictions. First, the mean rate of quality...

"This book aims to look into countries' national financial behaviors and their attributes under the modern financial system and explore several important themes regarding national finance. Different from the commonly referred to finance discipline which studies financial affairs in general,...