What do state-owned enterprises (SOEs) do? How do they respond to market incentives? Can we expect substantial efficiency gains from trade liberalization in economies with a strong presence of SOEs? Using a new dataset of Vietnamese firms we document a set of empirical regularities...

The findings of the new New Trade Theory are compelling and elegant, and the predictions have been justifiably held up as a watershed event in international trade. Nevertheless, the simplifying assumptions necessary to generate the results obfuscate key differences in the strategic assets firms...

What do state-owned enterprises (SOEs) do? How do they respond to market incentives? Can we expect substantial efficiency gains from trade liberalization in economies with a strong presence of SOEs? Using a new dataset of Vietnamese firms we document a set of empirical regularities...