Chinese Abstract: 互联网经济通过大幅度降低交易成本和降低信息不对称程度，加速现有交易的发 生，并促成新的交易，提高整体社会福利。由于还没有充分考量“数据”和“信息”等新要...

This paper extends the results obtained by Hwang et al. (1997) and Yang (2005) to the case of multi-domestic firms. Either the domestic government's budget constraint may be binding or there exists the social cost which caused by financing the export subsidy, we find that the policy of the...