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 …

consumers has inspired the development of a new brand of trade theory, the theory of heterogeneous firms and trade. The … framework to bring out key lessons of this recent research. We address the gains from trade, country asymmetries involving … technology potentials, market sizes, trade openness and various business conditions as well as the international repercussions …

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 …