Elgar original reference
Edited by Ioannis Lianos and Damien Geradin
Government intervention in markets is ubiquitous and takes many forms. This chapter is concerned with two forms of such intervention – economic regulation and competition law and policy – and their relationship within the context of the EU ‘regulated markets’. Traditionally, competition and regulation were seen as two discrete, opposed categories. An industry was either ‘regulated’ or ‘unregulated’, depending on how much firms were left unrestrained to operate in the market. The following general rule applied: the less the State intervenes in the working of markets, the more room for competition. This view was partially sustained in the common, but erroneous statement that sector-specific regulation is an ex ante mechanism for market intervention, whilst competition law applies ex post to cure observable impediments to competition or infringements of law.
You are not authenticated to view the full text of this chapter or article.
Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.
Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.
Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.