INTERNATIONAL TRADE AND INDUSTRIAL DYNAMICS*
研究企业内生技术选择如何驱动产业演化，包括可能出现的剧烈洗牌，并分析贸易自由化如何降低洗牌概率、稳定产业结构，以及洗牌在不同国家的分布差异。
In this article, industrial evolution is driven by endogenous technology choices of firms, generating a rich environment that includes the possibility of a dramatic shakeout. The likelihood, magnitude, and timing of this shakeout are characterized and depend not only on the size of an innovation but also on cost structure. In this setting, trade liberalization reduces the likelihood of a shakeout, resulting in more stable industrial structures. However, when shakeouts arise in global markets, the distribution of exits can vary widely across countries. Furthermore, conditions exist where a shakeout occurs in a closed economy but not in an open economy.