This paper uses panel analysis to make empirical study of the interactive relation between vertical specialization and economic cycle by choosing ten countries as samples such as China, Japan, the United States, and EU7 including Belgium, Germany, France, Italy, Netherlands, Spain and the United Kingdom, and the empirical results show that vertical specialization deepens the interactive relation of economic cycle between the countries while the positive relation between the two is significant, and that intraindustry trade is positively related to economic cycle coordination while industrial structural similarity, mutual foreign direct investment intensity and mutual trade intensity are negatively related to economic cycle coordination. 