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Competition Policy Trends and Economic Growth: Cross-National Empirical Evidence

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  • Joseph Clougherty

Abstract

Motivated by the general lack of empirical scholarship concerning the cross-national environment for competition policy, I present measures here of the overall resources dedicated to competition policy and the merger policy work-load for thirty-two antitrust jurisdictions over the 1992-2007 period. The data allow a number of perceived trends in competition policy over the last two decades to be analysed, and allow the generation of some factual insights concerning these trends: e.g. the budgetary commitment to competition policy in the cross-national environment for antitrust has substantially increased over this period; budgetary increases appear to be commensurate with increased antitrust workloads, and yet, the role of economics does not appear to have substantially increased relative to the role of law. Moreover, I am also able to provide some evidence that budgetary commitments to antitrust institutions yield economic benefits in terms of improved economic growth: i.e. higher budgetary commitments to competition policy are associated with higher levels per-capita GDP growth.

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Bibliographic Info

Article provided by Taylor & Francis Journals in its journal International Journal of the Economics of Business.

Volume (Year): 17 (2010)
Issue (Month): 1 ()
Pages: 111-127

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Handle: RePEc:taf:ijecbs:v:17:y:2010:i:1:p:111-127

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Related research

Keywords: Growth; Antitrust; Competition Policy; Trends;

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References

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  1. Lars-Hendrik Röller & Johan Stennek & Frank Verboven, 2000. "Efficiency Gains from Mergers," CIG Working Papers FS IV 00-09, Wissenschaftszentrum Berlin (WZB), Research Unit: Competition and Innovation (CIG).
  2. ?gel de la Fuente & Rafael Dom?ech, . "Human Capital In Growth Regressions: How Much Difference Does Data Quality Make?," UFAE and IAE Working Papers 446.00, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
  3. Giuseppe Nicoletti & Stefano Scarpetta, 2003. "Regulation, productivity and growth: OECD evidence," Economic Policy, CEPR & CES & MSH, vol. 18(36), pages 9-72, 04.
  4. Buccirossi, Paolo & Ciari, Lorenzo & Duso, Tomaso & Spagnolo, Giancarlo & Vitale, Cristiana, 2009. "Competition Policy and Productivity Growth: An Empirical Assessment," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 283, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
  5. Aghion, Philippe & Dewatripont, Mathias & Rey, Patrick, 1999. "Competition, Financial Discipline and Growth," Review of Economic Studies, Wiley Blackwell, vol. 66(4), pages 825-52, October.
  6. Duso, Tomaso & Neven, Damien J & Röller, Lars-Hendrik, 2003. "The Political Economy of European Merger Control: Evidence Using Stock Market Data," CEPR Discussion Papers 3880, C.E.P.R. Discussion Papers.
  7. Joseph A. Clougherty & Anming Zhang, 2004. "Export Orientation and Domestic Merger Policy: Theory and Some Empirical Evidence," CIG Working Papers SP II 2004-10, Wissenschaftszentrum Berlin (WZB), Research Unit: Competition and Innovation (CIG).
  8. Nilssen, Tore, 1997. "On the Consistency of Merger Policy," Journal of Industrial Economics, Wiley Blackwell, vol. 45(1), pages 89-100, March.
  9. Dutz, Mark A. & Hayri, Aydin, 2000. "Does more intense competition lead to higher growth?," Policy Research Working Paper Series 2320, The World Bank.
  10. Folster, Stefan & Henrekson, Magnus, 1999. "Growth and the public sector: a critique of the critics," European Journal of Political Economy, Elsevier, vol. 15(2), pages 337-358, June.
  11. Bergman, Mats A. & Jakobsson, Maria & Razo, Carlos, 2003. "An Econometric Analysis of the European Commission's Merger Decisions," Working Paper Series 2003:6, Uppsala University, Department of Economics.
  12. Stefan Voigt, 2006. "The Economic Effects of Competition Policy Cross Country Evidence Using Four New Indicators," ICER Working Papers 20-2006, ICER - International Centre for Economic Research.
  13. Joseph A. Clougherty, 2005. "Industry Trade Balance And Domestic Merger Policy: Empirical Evidence From U.S. Merger Policy For Manufacturing Sectors," Contemporary Economic Policy, Western Economic Association International, vol. 23(3), pages 404-415, 07.
  14. Doern, G. Bruce & Wilks, Stephen (ed.), 1996. "Comparative Competition Policy: National Institutions in a Global Market," OUP Catalogue, Oxford University Press, number 9780198280620.
  15. Andrea Bassanini & Stefano Scarpetta & Philip Hemmings, 2001. "Economic Growth: The Role of Policies and Institutions: Panel Data. Evidence from OECD Countries," OECD Economics Department Working Papers 283, OECD Publishing.
  16. Dutz, Mark A. & Vagliasindi, Maria, 2000. "Competition policy implementation in transition economies: An empirical assessment," European Economic Review, Elsevier, vol. 44(4-6), pages 762-772, May.
  17. Folster, Stefan & Henrekson, Magnus, 2001. "Growth effects of government expenditure and taxation in rich countries," European Economic Review, Elsevier, vol. 45(8), pages 1501-1520, August.
  18. Kneller, Richard & Bleaney, Michael F. & Gemmell, Norman, 1999. "Fiscal policy and growth: evidence from OECD countries," Journal of Public Economics, Elsevier, vol. 74(2), pages 171-190, November.
  19. Henrik Horn & James Levinsohn, 1997. "Merger Policies and Trade Liberalization," NBER Working Papers 6077, National Bureau of Economic Research, Inc.
  20. Peter Hoeller & Nathalie Girouard & Alessandra Colecchia, 1998. "The European Union's Trade Policies and their Economic Effects," OECD Economics Department Working Papers 194, OECD Publishing.
  21. John Kwoka, 1999. "Commitment to Competition: An Assessment of Antitrust Agency Budgets since 1970," Review of Industrial Organization, Springer, vol. 14(4), pages 295-302, June.
  22. repec:fth:iniesr:543 is not listed on IDEAS
  23. Jo Seldeslachts & Joseph A. Clougherty & Pedro Pita Barros, 2009. "Settle for Now but Block for Tomorrow: The Deterrence Effects of Merger Policy Tools," Journal of Law and Economics, University of Chicago Press, vol. 52(3), pages 607-634, 08.
  24. Ghosal, Vivek, 2002. "Potential foreign competition in US manufacturing," International Journal of Industrial Organization, Elsevier, vol. 20(10), pages 1461-1489, December.
  25. Winston, Clifford, 1993. "Economic Deregulation: Days of Reckoning for Microeconomists," Journal of Economic Literature, American Economic Association, vol. 31(3), pages 1263-89, September.
  26. Sanghoon Ahn & Philip Hemmings, 2000. "Policy Influences on Economic Growth in OECD Countries: An Evaluation of the Evidence," OECD Economics Department Working Papers 246, OECD Publishing.
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