Does Trade Cause Capital to Flow? Evidence from Historical Rainfalls
---- Acknowledgements -----
We thank Michael Clemens, James Feyrer, Graciela Kaminsky, Christopher Meissner, Elias Papaioannou, Alan Taylor, Dietrich Vollrath for helpful discussions and comments, and Ünal Akkemik for help with historical tree-ring rainfalls data. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.