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Appendix assume calculated CEPR characterization Comparative statics concavity Consider corner solution cost of exporting decreases demand is growing demand stops growing demand uncertainty Discussion Papers dx/db dynamic programming dynamics Economics enter the market equality equation 15 exceeds export its product exports and FDI exports and investments fc[l FDI and exports Figure first-order conditions fixed cost follows foreign direct investment foreign market increase inequality initial FDI initial investment interior point interior solution invested capacity Lemma level of exports linear demand Macroeconomics marginal cost market through FDI monetary policy move the solution number of consumers numerator once demand optimal exports optimal solution parameters payoff positive post-entry stage pre-entry stage Proposition qualitative features RHS of 11 seller adds seller does FDI seller finds serving the market statics with respect stylized facts subscription tends to move terminal value uncertainty and irreversibility uniform on 0,1 value function variable cost