Lommerud, Kjell Erik () (Department of Economics, University of Bergen) Olsen, Trond E. () (Dept. of Finance and Management Science, Norwegian School of Economics and Business Administration) Straume, Odd Rune () (Department of Economics, University of Bergen)
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The international integration of regulated markets poses new challenges for regulatory policy. One question is the implications that the overall international regulatory regime will have for cross-border and/or domestic merger activity. In particular, do non-coordinated policies stimulate cross-border mergers that are overall inefficient, and is this then an argument for international coordination of such policies? The paper addresses this issue in a setting where firms must have access to a transportation network which is controlled by national regulators. The analysis reveals that while non-coordinated regulatory policies may induce cross-border mergers (by allowing the firms in question to play national regulators out against each other), this can nevertheless be overall welfare enhancing compared to market outcomes under coordinated regulation.
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Paper provided by Department of Finance and Management Science, Norwegian School of Economics and Business Administration in its series Discussion Papers with number
2005/8.
Length: 27 pages Date of creation: 30 Nov 2005 Date of revision: Handle: RePEc:hhs:nhhfms:2005_008
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