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Import competition and vertical integration: Evidence from India

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  • Stiebale, Joel
  • Vencappa, Dev

Abstract

Recent theoretical contributions provide conflicting predictions about the effects of product market competition on firms’ organizational choices. This paper uses a rich firm-product-level panel data set of Indian manufacturing firms to analyze the relationship between import competition and vertical integration. Exploiting exogenous variation from changes in India’s trade policy, we find that foreign competition, induced by falling output tariffs, increases backward vertical integration by domestic firms. The effects are concentrated among firms with high productivity and in industries with relatively low initial levels of competition. In contrast, falling input tariffs seem to have countervailing effects on vertical integration incentives. We also provide evidence that vertical integration is associated with lower marginal costs and increasing markups at the firm-product level.

Suggested Citation

  • Stiebale, Joel & Vencappa, Dev, 2022. "Import competition and vertical integration: Evidence from India," Journal of Development Economics, Elsevier, vol. 155(C).
    • Handle: RePEc:eee:deveco:v:155:y:2022:i:c:s0304387821001474
    DOI: 10.1016/j.jdeveco.2021.102790
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    More about this item

    Keywords

    Trade liberalization; Competition; Vertical integration; Markups; Marginal costs;
    All these keywords.

    JEL classification:

    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F61 - International Economics - - Economic Impacts of Globalization - - - Microeconomic Impacts
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
    • L22 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Organization and Market Structure
    • L23 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Organization of Production

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