We measure the contribution of firm-embedded productivity to cross-country income differences. By firm …-embedded productivity we refer to the components of productivity that differ across firms and that can be transferred internationally, such … face less competition in less-developed coun-tries, suggesting that firm-embedded productivity in those countries is scarce …

significantly positive for very large corporations. Fourth, the relationship between markups and investment depends heavily on the … markup level. For a typical firm with median market power, a 1% increase in its markup implies a 0.86% rise in the investment ….44% reduction in investment. …