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Vertical Integration in the U.S. Pulp and Paper Industry, 1900-1940
Nancy Kane Ohanian
The Review of Economics and Statistics
Vol. 76, No. 1 (Feb., 1994), pp. 202-207
Published by: The MIT Press
Stable URL: http://www.jstor.org/stable/2109840
Page Count: 6
You can always find the topics here!Topics: Paper mills, Vertical integration, Pulp mills, Pulp and paper industry, Mills ratio, Paper products, Region of integration, Market concentration, Newsprint, Papermaking
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A transaction-cost model of vertical integration is tested, based on detailed descriptions of every pulp and paper mill operating in the United States between 1900 and 1940. This study contributes to the literature on integration through the use of a large, disaggregated database that allows identification of individual mills over time. Vertical integration of pulp and paper production is found to be positively associated with regional concentration, paper-mill capacity, and production of standardized grades of paper. Over time, new entrants behaved differently than established mills, because few mills switched between integration and specialization once established.
The Review of Economics and Statistics © 1994 The MIT Press