The opening up of world markets, rapid growth of trade and foreign direct investment create manifold problems for competition policy. Thus, international mergers may have adverse effects on many countries, international cartels may carve up world markets and dominant firms may seek to maintain their global position by exclusionary conduct. These problems have been recognised for more than half a century and some attempts have been made internationally to address them, so far with limited success. This progressive book seeks to explore the problems and concerns that globalisation has created for competition policy.
The book begins by setting out the principles of competition and trade policies, and then goes on to address the impact of market globalisation on what are usually thought of as traditional antitrust concerns. These include the analysis of the difficulties arising from collusion and other restrictive practices, government sponsored `voluntary co-operation', vertical restrictions and market access, pricing strategies of dominant firms and international mergers, all illustrated with a number of prominent case studies. The author concludes with an illuminating discussion on the feasibility of international co-operation on competition policy, the faltering progress that has been made so far and the prospects for future advances.
This comprehensive volume will prove to be an invaluable resource to students and scholars of law and economics. It will also find wide appeal amongst researchers, policy makers and practitioners with an interest in industrial organisation, antitrust policy and globalisation.
Michael A. Utton, former Emeritus Professor of Economics, University of Reading, UK
Contents: Preface Part I: Introductory 1. Introduction and Outline 2. The Principles of Trade and Competition Policies Part II: Competition Issues in the Global Economy 3. An International Perspective on Collusive Behaviour 4. Government Sponsored `Voluntary' Co-operation 5. Vertical Restrictions and Market Access 6. Pricing Strategies of Dominant Firms 7. International Mergers Part III: Policy Problems 8. The Feasibility of International Agreement 9. Attempts at International Co-operation 10. Towards an International Competition Policy References Index