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|Title:||Contracting institutions and vertical integration: Evidence from China's manufacturing firms|
|Citation:||Du, J., Lu, Y., Tao, Z. (2012-02). Contracting institutions and vertical integration: Evidence from China's manufacturing firms. Journal of Comparative Economics 40 (1) : 89-107. ScholarBank@NUS Repository. https://doi.org/10.1016/j.jce.2011.10.002|
|Abstract:||The existing studies on vertical integration focus on factors at the transaction parties' level, such as asset specificity and contractual incompleteness. What is overlooked is the quality of the underlying institutions, in particular, contracting institutions. In this paper, using a World Bank data set of manufacturing firms in China, we find that poorer contracting institutions cause firms to be more vertically integrated. Our results are robust to various checks, especially the inclusion of the quality of financial institutions. © 2011 Association for Comparative Economic Studies.|
|Source Title:||Journal of Comparative Economics|
|Appears in Collections:||Staff Publications|
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