A Framework for the Design and Implementation of Competition Law and Policy

Abstract

This book reviews the design and implementation of competition law and policy. The study examines the objectives of competition policy, defining a dynamic and competitive environment as one underpinned by sound competition law and policy. Moving towards successful market economies, many developing and transition economies, following significant reforms in trade liberalization, privatization and deregulation, have also enacted or revised competition laws to benefit from increased economic efficiency, innovation, and consumer welfare. Thus, an approach to market definition is presented in the report, underlining two components : its product markets and its geographic reach. Furthermore, the assignment of market shares, which assures a significant indicator in market economies is analyzed. Agreement practices and restrictions are treated in a special chapter, and the review of a case study, involving a successful prosecution of a cement cartel in the Slovak Republic is presented. The study further reviews merger agreements, through case examples and special issues of abuse of dominance in transition economies. Finally, the focus is on the role of competition advocacy, and its impact on trade liberalization, economic regulation, state aids, local government authorities' operations and privatization.