In 2018, Agrium and PotashCorp merged to become the world's largest manufacturer of potash, from which potassium is extracted for use as one of the three main nutrients in agricultural fertilizer. The merged firm held a 60 percent share of North American capacity, suggesting the merger may have...

The role of agricultural development for industrialization is central both to several theories of economic development and policy. However, empirically assessing the impact of agricultural growth on manufacturing growth is challenging because of endogeneity concerns. To address the...