From Local to Global: Offshoring and Asset Prices

The author thanks Ulf Axelson, Oliver Boguth, Harris Dellas, Boyan Jovanovic, Ian Martin, Gianmarco Ottaviano, Christopher Polk, Andreas Rapp, Veronica Rappoport, Alireza Tahbaz-Salehi, Andrea Tamoni, Branko Urosevic, Philip Valta, Andrea Vedolin, Alexandre Ziegler, and especially, Christian Julliard and Lukas Schmid; Gustavo Manso (editor), an anonymous associate editor, and two anonymous referees for remarks and comments that considerably improved the paper; seminar participants at the London School of Economics, University of Bern, the University of Warwick, Oxford University, Nova School of Business & Economics, Centro de Estudios Monetarios y Financieros, Institut Européen d’Administration des Affaires, Haute Ecole Commerciale (HEC) Paris, Boston College, Carnegie Mellon University, University of Chicago, Imperial College, London Business School, the Swiss Economists Abroad Conference, the Belgrade Young Economist Conference, the Doctoral Tutorial of the European Finance Association, and the HEC Paris Finance PhD Workshop for valuable comments; and J. Bradford Jensen for sharing data on industry tradability. All remaining errors are the author’s own.