Edited by Josef Drexl, Mor Bakhoum, Eleanor M. Fox, Michal S. Gal and David J. Gerber
Chapter 2: Competition Law and Policy in the Framework of ASEAN
JOBNAME: Drexl PAGE: 1 SESS: 4 OUTPUT: Tue Jul 10 16:13:59 2012 2. Competition law and policy in the framework of ASEAN Anthony Amunategui Abad 1. INTRODUCTION It is widely acknowledged that a strong and well-crafted framework of competition law and policy, with effective enforcement capacity and competition-based economic reform, promotes increased efﬁciency, economic growth and development. These beneﬁts are of particular interest to developing countries and countries in transition, such as a number of the economies in the Association of Southeast Asian Nations (ASEAN). During the last decade, a majority of ASEAN member states have adopted or begun the process of enacting competition laws. As globalization proceeds, countries are becoming substantially more open and market oriented, aware of the adverse effects of anti-competitive practices and of the potential beneﬁts that derive from competition law enforcement. The rationale for competition law and policy is compelling. A welldesigned and effective competition law and policy framework is good for efﬁciency, as it promotes competitiveness; for economic growth, through productivity gains and greater innovation; for price stability, as competition tends to keep prices low; and for trade and investment, as it tends to make liberalization more effective and meaningful. Consumers are the biggest beneﬁciaries, as competition policy and law not only protect consumers against monopolistic and restrictive practices but also enable them to enjoy the fruits of competition in the form of lower prices and/or better products. The experiences of developed and developing countries show that...
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