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Investigating transatlantic merger policy convergence

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  • Szücs, Florian

Abstract

We propose a framework to examine convergence in the jurisdictional patterns of the American FTC and the European Commission. Based on a sample of 595 merger cases scrutinized by either of these agencies in the 1995–2007 period, we estimate logit models of the probability of intervening in a merger for both jurisdictions and use them to predict the decisions of the respectively other agency. The results point to an increasing harmonization of merger regimes and corroborate the theoretical appraisal that the 2004 reform of EU merger law constituted a step towards the US system.

Suggested Citation

  • Szücs, Florian, 2012. "Investigating transatlantic merger policy convergence," International Journal of Industrial Organization, Elsevier, vol. 30(6), pages 654-662.
  • Handle: RePEc:eee:indorg:v:30:y:2012:i:6:p:654-662
    DOI: 10.1016/j.ijindorg.2012.08.002
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    References listed on IDEAS

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    1. F.M. Scherer, 1997. "Competition Policy Convergence: Where Next?," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 24(1), pages 5-19, January.
    2. Bruce R. Lyons, 2004. "Reform of European Merger Policy," Review of International Economics, Wiley Blackwell, vol. 12(2), pages 246-261, May.
    3. Bergman, Mats A. & Jakobsson, Maria & Razo, Carlos, 2005. "An econometric analysis of the European Commission's merger decisions," International Journal of Industrial Organization, Elsevier, vol. 23(9-10), pages 717-737, December.
    4. William E. Kovacic & Carl Shapiro, 2000. "Antitrust Policy: A Century of Economic and Legal Thinking," Journal of Economic Perspectives, American Economic Association, vol. 14(1), pages 43-60, Winter.
    5. Malcolm Coate & Shawn Ulrick, 2009. "Do Court Decisions Drive the Federal Trade Commission’s Enforcement Policy on Merger Settlements?," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 34(2), pages 99-114, March.
    6. Mats Bergman & Malcolm Coate & Maria Jakobsson & Shawn Ulrick, 2010. "Comparing Merger Policies in the European Union and the United States," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 36(4), pages 305-331, June.
    7. Tomaso Duso & Damien J. Neven & Lars-Hendrik Röller, 2007. "The Political Economy of European Merger Control: Evidence using Stock Market Data," Journal of Law and Economics, University of Chicago Press, vol. 50, pages 455-489.
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    More about this item

    Keywords

    Convergence; Merger policy; FTC; DG competition;

    JEL classification:

    • K21 - Law and Economics - - Regulation and Business Law - - - Antitrust Law
    • L40 - Industrial Organization - - Antitrust Issues and Policies - - - General

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