Question: 12 Repeat the above case using Heckmans two-stage procedure. Specifically, elaborate on the process in which a firm decides whether to engage in outward FDI

12 Repeat the above case using Heckman’s two-stage procedure. Specifically, elaborate on the process in which a firm decides whether to engage in outward FDI or not and the process for the level of involvement of the firm, by choosing and justifying the set of independent variables for the two processes respectively.

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