We analyse how changes in international trade integration affect productivity and the functional income distribution. To account for endogeneity, we construct a leave-out measure for international trade integration for country-industry pairs using international input-output tables. First, we...

The past two decades have seen a rapid rise in large-scale, state-led transnational investment from countries as different as China, Norway and Russia. By bundling economic resources, these countries have entered global markets through massive state-led investments. This transformation of states...