Laura Alfaro, Paola Conconi, Harald Fadinger, Andrew Newman, Sunday, October 28, 2012 - 00:00

This paper shows that product prices determine organisational design by studying how trade policy affects vertical integration. The authors construct firm-level indices of vertical integration for a large set of countries and industries and exploit cross-section and time-series variation in import tariffs to examine the impact of prices on organisational choices.


The MSc in Competition and Market Regulation provides participants with a rigorous training in competition policy and regulatory issues. A full understanding of how markets work and how they are regulated will be acquired through an in-depth analysis of the functioning of legal and economic institutions and an empirical preparation. Competition policy cases and regulation policy in specific sectors, such as telecommunications, energy, transportation and financial markets will be covered. For more information, please visit

CEPR Policy Research