Economic theory provides various explanations for vertical integration but transaction costs seem to be a major determinant of backward, forward and lateral integration. The paper studies integration trends in the newly emerging Bulgarian pharmaceutical sector, seeking transaction cost...

Analyzing the competitive performance of Romanian industry, one may say that Romania has an economy based mainly on the manufacturing industry, characterized by features such as: · high labor intensity, especially in industries such as textiles, knitwear, apparel, leather and footwear; · high...