Endogenous Financial and Trade Openness
---- Acknowledgements ----
We would like to thank Michael Hutchison, Hiro Ito, Nancy Marion and Shang-Jin Wei for sharing their data. We are grateful for the suggestions of two anonymous referees. We would also like to thank for useful comments we received from Micha Ben-Gad, Benny Bental, Carl Bonham, Mike Dooley, Hadi Salehi Esfahani, Doireann Fitzgerald, Byron Gangnes, Charles Kahn, Ken Kletzer, Xenia Matschke, Richard Portes, Aaron Tornell, Donald Wittman, Ari van Asche and seminar participants at the Hebrew University of Jerusalem, UCSC, UCLA, University of Haifa, University of Illinois (Urbana-Champaign), University of Hawaii, Tel Aviv University, University of Washington and the LACEA 2004 meeting in San José, Costa Rica. Any errors are ours. This paper integrates and updates results reported previously in NBER Working papers # 10144 and 10496. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.