Why did the Japanese economy stagnate beforeWorldWar II, how did it achieve rapid economic growth after the war, and why did it stagnate again after the 1970s? To answer these questions, I developed a two-country trade model with technology transfer, where firms in a developed country (the U.S.)...

Two important opportunities for accelerating the growth of newly established firms are initial public offerings and acquisitions. This study focuses on the acquisition of a firm and its subsequent transformation into a subsidiary by business groups and investigates how such governance...