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

  • Clougherty, Joseph A.

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 analysing a number of perceived trends in competition policy over the last two decades, 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; 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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Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 7515.

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Date of creation: Oct 2009
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Handle: RePEc:cpr:ceprdp:7515
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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. 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.
  3. Fölster, Stefan & Henrekson, Magnus, 1997. "Growth and the Public Sector: A Critique of the Critics," Working Paper Series 492, Research Institute of Industrial Economics, revised 10 Jun 1998.
  4. Horn, Henrik & Levinsohn, James A, 2000. "Merger Policies And Trade Liberalization," CEPR Discussion Papers 2459, C.E.P.R. Discussion Papers.
  5. 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.
  6. Angel de la Fuente & Rafael Donénech, 2000. "Human Capital in Growth Regressions: How much Difference Does Data Quality Make?," OECD Economics Department Working Papers 262, OECD Publishing.
  7. 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.
  8. Dutz, Mark A. & Hayri, Aydin, 2000. "Does more intense competition lead to higher growth?," Policy Research Working Paper Series 2320, The World Bank.
  9. Tomaso Duso & Damien J. Neven & Lars-Hendrik Röller, 2002. "The Political Economy of European Merger Control: Evidence using Stock Market Data," CIG Working Papers FS IV 02-34, Wissenschaftszentrum Berlin (WZB), Research Unit: Competition and Innovation (CIG).
  10. 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.
  11. Paolo Buccirossi & Lorenzo Ciari & Tomaso Duso & Giancarlo Spagnolo & Cristiana Vitale, 2013. "Competition Policy and Productivity Growth: An Empirical Assessment," The Review of Economics and Statistics, MIT Press, vol. 95(4), pages 1324-1336, October.
  12. 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.
  13. 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.
  14. 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).
  15. Nilssen, Tore, 1997. "On the Consistency of Merger Policy," Journal of Industrial Economics, Wiley Blackwell, vol. 45(1), pages 89-100, March.
  16. repec:hhs:iuiwop:543 is not listed on IDEAS
  17. Mathias Dewatripont & Philippe Aghion & Patrick Rey, 1999. "Competition, financial discipline and growth," ULB Institutional Repository 2013/9619, ULB -- Universite Libre de Bruxelles.
  18. John Kwoka, 1999. "Commitment to Competition: An Assessment of Antitrust Agency Budgets since 1970," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 14(4), pages 295-302, June.
  19. Winston, Clifford, 1993. "Economic Deregulation: Days of Reckoning for Microeconomists," Journal of Economic Literature, American Economic Association, vol. 31(3), pages 1263-89, September.
  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. 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.
  22. Giuseppe Nicoletti & Stefano Scarpetta, 2003. "Regulation, Productivity and Growth: OECD Evidence," OECD Economics Department Working Papers 347, OECD Publishing.
  23. 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.
  24. 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.
  25. Doern, G. Bruce & Wilks, Stephen (ed.), 1996. "Comparative Competition Policy: National Institutions in a Global Market," OUP Catalogue, Oxford University Press, number 9780198280620, December.
  26. Ghosal, Vivek, 2002. "Potential foreign competition in US manufacturing," International Journal of Industrial Organization, Elsevier, vol. 20(10), pages 1461-1489, December.
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