Competition Regulation In Ecuador

Economic growth has been restricted in developing countries because of the existence of high degrees of concentration and numerous market failures affecting development. In these types of markets, implementation of competition law and policy is fundamental to work toward a much-desired equilibrium, or, at a minimum, to correct these market failures and promote transparent competition. The experience of other countries and their approach to the implementation of competition regulation may provide substantial benefits for developing countries, which can refer to the tools, successes, and failures in their implementation processes. The Andean Community has an emerging history of implementing competition law through community legislation and domestic laws. The most remarkable of these cases, which provides material for a case study, is the country of Ecuador, which in the absence of domestic regulations was allowed to apply the Andean Community Decision 608 on competition. After two years of application of such general community legislation on competition, Ecuador finally enacted its first domestic competition law on October 13, 2011. That law's authority was appointed in September 2012. Ecuador is immersed in the first stages of implementation.