Competition and Development
Competition and Development
What Competition Law Regime?
Competition is essential for development and is the mechanism that makes markets work efficiently. However, competition policy in general and competition law enforcement in particular, should be enforced according to the stage of institutional development. Using a law and economics model of competition law enforcement this chapter answers the following questions: What characterizes the effectiveness of a competition law regime? How has competition law enforcement spread around the world? What factors limit the enforcement of competition law? Despite the existence of more than 100 competition laws, only middle or upper income countries enforce the law, and among these only countries with an income per capita above 13 thousand USD, about 40, have a regime with a minimum level of effectiveness.
Keywords: Competition policy, competition law, competition law regime, econometrics of competition regimes, institutions, development, democracy, corruption, education, vested interests
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