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Competition Law and Development$
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Daniel D. Sokol, Thomas K. Cheng, and Ioannis Lianos

Print publication date: 2013

Print ISBN-13: 9780804785716

Published to Stanford Scholarship Online: January 2014

DOI: 10.11126/stanford/9780804785716.001.0001

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Domestic and Cross-Border Transfer of Wealth

Domestic and Cross-Border Transfer of Wealth

(p.199) 12 Domestic and Cross-Border Transfer of Wealth
Competition Law and Development

Ariel Ezrachi

Stanford University Press

Protection of consumer welfare is a central pillar of competition law enforcement. Although not the sole goal pursued by competition law, such protection - preventing unjustified transfer of wealth from consumers to producers - is a common feature of modern competition regimes. In the domestic sphere, “transfer of wealth” is a consistent and clear benchmark in competition law enforcement. However this is not necessarily the case in an international setting. The assessment of transfer of wealth in a cross-border setting may distort competition law enforcement. While extraterritoriality and cooperation between national competition authorities can, at times, remedy sub-optimal enforcement, this may not always be the case. This chapter will review the negative welfare implications of transfer of wealth for small and developing economies.

Keywords:   extraterritoriality, cooperation, competition law, international, transfer of wealth

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