International Economic Law, Globalization and Developing Countries
Show Less

International Economic Law, Globalization and Developing Countries

Edited by Julio Faundez and Celine Tan

International Economic Law, Globalization and Developing Countries explores the impact of globalization on the international legal system, with a special focus on the implications for developing countries.
Buy Book in Print
Show Summary Details

Chapter 12: Developing Countries and International Competition Law and Policy

Kathryn McMahon

Extract

12. Developing countries and international competition law and policy Kathryn McMahon* 1. INTRODUCTION In the last 20 years the number of countries with some form of competition law has almost doubled. Approximately 100 countries now have a competition law and as many as 75 per cent of these are developing countries (Fox, 2007: 104; Stewart et al., 2007: 4; Evans and Jenny, 2009: 10). Many other developing countries are in the process of enacting legislation and establishing competition authorities. Much of this activity can be traced to global trends towards the liberalisation of markets and the privatisation of government utilities (OECD, 1992). As the state contracts, competition law is viewed as a last bastion of regulation required to umpire imperfectly competitive markets or residual pockets of ‘market failure’: the idea of ‘competition as the regulator’. In developing countries the enactment of competition laws was also a response to neo-liberal international development policies most commonly associated with the ‘Washington Consensus’, which prioritised promarket structural reforms, fiscal restraint and monetary controls, and the pursuit of economic efficiency (Williamson, 1990a). Some countries, such as Indonesia, adopted competition law as a direct condition of the receipt of funding from the International Monetary Fund. For other post-Soviet and transitional economies in Eastern Europe its adoption was seen as preparation for eventual membership of the European Union (EU). At the international level, competition policy was perceived as integral to the efficient flow of goods, services and capital in the global economy. In the absence of competition...

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.


Further information

or login to access all content.