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Institutional Reforms to Integrate Regulation and Competition Policy: Economic Analysis, International Perspectives, and the Case of the CNMC in Spain

Author

Listed:
  • Francesc Trillas Jané

    (Departament d'Economia Aplicada, Universitat Autonoma de Barcelona)

  • Ramon Xifré

    (ESCI-Universitat Pomepue Fabra, Public-Private sector research center, IESE Business School)

Abstract

We review the related academic literature and the international evidence on the institutions of regulation and competition policy, to analyze the creation in 2013 of the new macro regulator in Spain, the CNMC. The institutional reform merged the competition policy authority with virtually all sector regulators with the exception of the financial regulator. The aim of the paper is to assess the extent to which the Spanish reform follows international best practices as well as how it fits within the analysis found in the academic literature. Although there is not a universally superior approach, neither in practice nor in theory, important shortcomings remain with the model that was finally adopted in Spain. Some institutional diversity would facilitate an optimal level of regulatory independence and governmental coordination for each sector, and ultimately achieving better results in terms of consumer welfare.

Suggested Citation

  • Francesc Trillas Jané & Ramon Xifré, 2016. "Institutional Reforms to Integrate Regulation and Competition Policy: Economic Analysis, International Perspectives, and the Case of the CNMC in Spain," Working Papers wpdea1607, Department of Applied Economics at Universitat Autonoma of Barcelona.
    • Handle: RePEc:uab:wprdea:wpdea1607
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    References listed on IDEAS

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