Edited by Josef Drexl, Mor Bakhoum, Eleanor M. Fox, Michal S. Gal and David J. Gerber
Chapter 5: Institutional Coherence and Effectiveness of a Regional Competition Policy: The Case of the West African Economic and Monetary Union (WAEMU)
JOBNAME: Drexl PAGE: 3 SESS: 6 OUTPUT: Tue Jul 10 16:13:59 2012 5. Institutional coherence and effectiveness of a regional competition policy: the case of the West African Economic and Monetary Union (WAEMU) Mor Bakhoum and Julia Molestina 1. INTRODUCTION In the context of globalization, the shift from the national to the global has become an economic reality. The process of the ‘rearrangement of the global legal environment, a result of the market economy’,1 has led to the emergence of new normative landscapes, which ‘seem to be orientated towards a collective administration of national interests’.2 The emergence of regional integration groups, especially in developing countries, is a result of this dynamic. The creation of a common market, a tariff union or a free-trade zone, which leads to the opening of trade barriers, goes hand in hand with the necessity to protect free competition in these newly created ‘common economic spaces’.3 When competition expands from the national to the regional level, the legislation also has to follow this shift. In developing countries, the turn to regional economic integration is thus accompanied by the regionalization of their competition policies. Cissé, A. (2004), ‘L’Harmonisation du droit des affaires en Afrique: l’expérience de l’OHADA à l’épreuve de sa première décennie’, RIDE n° 2, p. 198. 2 Ibid. 3 On the issue of economic integration and competition law in developing countries, see Drexl, J. (2012), ‘Economic Integration and Competition Law in Developing Countries’, in this volume, Ch. 11. 89...
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