substantially reduced trade costs and has enlarged the choice sets of music consumers around the world. Using comprehensive data on … appealing to world consumers. We conclude that a combination of c) and d) offers the most credible explanation for the observed …

Globalization has led to exciting new business opportunities around the globe. Still, national and cultural boundaries … have not evaporated into a borderless world.ʺ Several studies have identified so-called liabilities of foreignness that …