Does Trade Cause Capital to Flow? Evidence from Historical Rainfalls

Sebnem Kalemli-Ozcan, Alex Nikolsko-Rzhevskyy

NBER Working Paper No. 16034
Issued in May 2010, Revised in December 2011

---- 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.

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