This paper explores the role of country asymmetries for trade and industrial policies with heterogeneous firms. Our … analysis delivers a number of novel results. First, trade policies, infrastructure policies and industrial policies which …, symmetric trade liberalization is immiserizing for a trading partner whose business conditions are inferior. Third, there are …

explores the links between countries' business conditions and international trade embedment and the default risk at the country … derive sharp predictions concerning how key factors which shape a country's business and trade environment impact on the … death ; firm heterogeneity ; business conditions and firm productivity ; trade integration …