Export Controls and the Economics of National Security -- by Jingting Fan, Kyle Handley, Nuno Limão

We thank participants at the following seminars for questions, comments, and suggestions: AEA 2026, APST 2026, Clemson, Dartmouth, Fed Board, Georgetown, George Washington, Georgia Tech 2024, IMF, Michigan, Sciences Po, Syracuse, Yale Cowles 2025, UC Irvine, UCSD, UMBC, University of Geneva, NC State. We thank Giovanni Maggi and Jaya Wen for useful discussions. We acknowledge the use of AI models in assisting with data location, cleaning, and editing (GPT and Claude). Kyle Handley acknowledges support from the UC San Diego 21st Century China Center. For expert research assistance, we thank Daniel Bae (Georgetown), Riley Lewers (UCSD), Filipe Limão, Noah Martens (Georgetown), Hailey Ordal (Georgetown) and Deepak Venkatasubramanian (Georgetown). The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.