Foreign Influence and Welfare
---- Acknowledgements -----
We thank Daron Acemoglu, Maitreesh Ghatak, Elhanan Helpman, Torsten Persson, Andrea Prat and seminar participants at the LSE, NBER, Columbia, Stanford, and Yale for helpful comments, and Giovanni Maggi for a particularly insightful discussion at the 2008 AEA Meetings. We are grateful to Eduardo Morales for superb research assistance. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.