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Industry Trade Balance And Domestic Merger Policy: Empirical Evidence From U.S. Merger Policy For Manufacturing Sectors

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  • JOSEPH A. CLOUGHERTY

Abstract

The literature on antitrust in an open-economy setting is inconclusive with respect to the role played by trade balance on the tenor of domestic merger policy. Using a panel dataset composed of U.S. merger reviews by industrial sector over the 1982-2001 period, I empirically test the impact of sectoral trade balance on the level of antitrust scrutiny. The results suggest that larger trade balances lead to more vigorous antitrust scrutiny; thus "strategic" merger policy does not appear evident, and consumer surplus appears to guide U.S. merger policy even under the lure of international competitive gains. Copyright 2005 Western Economic Association International.

Suggested Citation

  • 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, July.
  • Handle: RePEc:bla:coecpo:v:23:y:2005:i:3:p:404-415
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    Cited by:

    1. Joseph Clougherty, 2010. "Competition Policy Trends and Economic Growth: Cross-National Empirical Evidence," International Journal of the Economics of Business, Taylor & Francis Journals, vol. 17(1), pages 111-127.
    2. Robert M. Feinberg & Kara M. Reynolds, 2009. "The Determinants of State-Level Antitrust Enforcement," Working Papers 2009-17, American University, Department of Economics.

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