BREAD Working Paper No. 589, June 2021

The Falling Price of Cement in Africa Fabrizio Leone, Rocco Macchiavello, and Tristan Reed Abstract The average price of cement in Africa was the highest of any continent in 2011, but by 2017 had fallen by 35 percent, the largest decline in the world, according to data from the International Comparison Program. An empirical industry […]

BREAD Working Paper No. 503, February 2017

Vertical Integration and Relational Contracts: Evidence from the Costa Rica Coffee Chain Rocco Macchiavello, Josepa Miquel-Florensa Abstract This paper compares integrated firms, long-term relationships and markets, and how they adapt to shocks in the Costa Rican coffee chain. The industry is characterised by significant uncertainty. Supply failures responses to unanticipated increases in reference prices reveal […]

BREAD Working Paper No. 556, March 2019

Competition and Relational Contracts in the Rwanda Coffee Chain Rocco Macchiavello, Ameet Morjaria Abstract How does competition affect market outcomes when formal contracts are not enforce- able, and parties resort to relational contracts? Difficulties with measuring relational contracts and dealing with the endogeneity of competition have frustrated attempts to answer this question. We make progress […]