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From 1997 to 2006, US state governors led more than 500 trade missions to foreign countries. Trade missions are potentially a form of public investment in export promotion. I create a theory of public investment by introducing government to a Melitz (2003)–Chaney (2008) model. Controlling for...
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the daily news. At the present time, they become an increasingly prevalent measure for disciplining states’ unacceptable …
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