Oliver Kim @global-developments.org · Nov 3 To study this, we built a new firm-level dataset linking U.S. DoD procurement contracts to Korean export records. The causal impact of winning a contract? Massive. We find it caused a 46 pct point jump in the firm's likelihood of exporting, and a tripling of export value.
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Effects weren't just U.S. sales. Winning a contract led to a lasting expansion into third-country markets, suggesting firms gained new capabilities & reputation. Contracting firms also responded more strongly to 🇰🇷's 1970s HCI drive, showing contracts + industrial policy were complementary.