Multinational firms may enter a market by different modes of foreign direct investment (FDI). This paper endogenizes both the mode and the size of FDI. It shows that the credibility of greenfield investment decides on the ...

This paper develops an oligopolistic model of international trade with heterogeneous firms and endogenous R&D to examine how trade liberalization affects firm and industry productivity, as well as social welfare. We identify ...

This paper examines the link between a firm’s owership of productive assets and its choice of foreign-market entry strategy. We find that, controlling for industry- and country-specific characteristics, the most productive ...