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Competition Authorities in South Eastern Europe : Building Institutions in Emerging Markets
Provides answers to key open questions concerning competition policy in emerging economies, with a focus on South Eastern Europe. The contributions address two major issues. One is the design of competition policy and the national competition authorities that enforce it, including the topics of competition advocacy and state aid control; the other is the use of economic methods in competition law enforcement, especially in the cases of relevant market definition and merger control. Many lessons learned in the countries of South Eastern Europe can be applied to the emerging markets of other regions. As such, the findings presented here will be highly relevant for officials and staff at national competition authorities, advisers to legislators shaping national competition policy, competition law professionals, and university students alike.
Making European Merger Policy More Predictable
Making European Merger Policy More Predictable analyses European Merger Control with regard to its capacity to generate predictability among the concerned parties. Starting from the premise that predictability is of overwhelming importance for the functioning of market economies, Voigt and Schmidt ask to what degree European Merger Control has been predictable over the last couple of years. The authors show both theoretically and empirically that there have been serious shortcomings with regard to the predictability of competition policy. They identify the insufficient recognition of the consequences of globalization on the competitive processes as well as an often inconsistent application of economic theory as the root causes for the lack of predictability. The inconsistent application of economic theory is particularly relevant with regard to potential competition and the evaluation of collective dominance. The authors generate a substantial number of proposals that could help to improve predictability. On this basis, Voigt and Schmidt critically assess the recent reforms of European Merger Control.
