Sizing up Market Failures in Export Pioneering Activities
---- Acknowledgements ----
We thank Wouter Dessein, Amit Khandelwal, Nikhil Patel, Andrea Prat, Dan Trefler, Daniel Xu, and seminar participants at the National Bureau of Economic Research China workshop, UC Berkeley, Columbia University, Cambridge University, University of Toronto, UC San Diego, University of Southern California, Tsinghua University, Harvard Kennedy School, and Shanghai University of Finance and Economics for helpful discussions, and especially Daniel Xu for generously sharing his codes with us, and Nikhil Patel, Yang Jiao, and Lea Sumulong for editorial comments. All errors are our responsibilities. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.