This paper examines the effects of international ownership of firms on trade pattern and values of firms in the intra-industry trade model. Specifically, we consider the possibility that international ownership of firms affects trade flow and firm values via strategic trade policies. We show...

The economics literature on mercantilism tends to emphasize gold hoarding and external barriers to trade as defining characteristics. However, medieval institutions included a host of internal barriers to trade as well as external ones. High offices were often for sale as were monopoly...