Competition policy for small market economies

By Michal S. Gal

Subjects: Competition, Economic conditions, States, small, Small States

Description: "This book demonstrates that optimal competition policy is dependent on the size of an economy. Whether and how firms compete is very much a matter of the natural conditions of the markets in which firms operate. A critical feature of small economies is the concentrated nature of many of their markets, which are often protected by high entry barriers. Competition policy must be designed to deal effectively with these unique obstacles to competition. Accordingly, applying the same competition policy to all economies alike may be contrary to its goals.". "Michal Gal's thorough analysis shows the effects of market size on competition policy, ranging from rules of thumb to more general policy prescriptions, such as policy goals and remedial tools. Competition policy in small economies is becoming increasingly important, since the number of small jurisdictions that have adopted a competition policy is rapidly growing. Gal's focus extends beyond domestic competition policy to the evaluation of the current trend toward the worldwide harmonization of competition policies. This book will provide important guidance to academics, policy makers, and practitioners of competition policy as well as to anyone interested in the globalization of competition laws."--BOOK JACKET.