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Enforcement of European Competition Policy - Impact on Competition and Efficiency

  • Klein, Gordon J.
  • Günster, Andrea

The study analyzes the impact of European antitrust enforcement on industry performance measured as competition intensity (Price Cost Margin) and productivity (labor productivity and distance to the frontier). For a panel of OECD countries on the industry level since 1988, we estimate the impact of an infringement decision by the European Commission on the competitive market structure. We find that enforcement has a considerable e ffect, both on competition intensity and on productivity. However, the impact di ffers with the anticompetitive economic conduct. Cartels behave as theoretically predicted with an increase in competition and productivity after the cartel break-up. The impact of vertical conduct is more complex, with positive and negative effi ciency eff ects of antitrust enforcement depending on the exclusivity of the vertical restraint.

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Paper provided by Verein für Socialpolitik / German Economic Association in its series Annual Conference 2013 (Duesseldorf): Competition Policy and Regulation in a Global Economic Order with number 79989.

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Date of creation: 2013
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Handle: RePEc:zbw:vfsc13:79989
Contact details of provider: Web page: http://www.socialpolitik.org/
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  1. repec:cup:cbooks:9780521816632 is not listed on IDEAS
  2. Jan Boone, 2008. "Competition: Theoretical Parameterizations and Empirical Measures," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 164(4), pages 587-611, December.
  3. Duso, Tomaso & Neven, Damien J & Röller, Lars-Hendrik, 2003. "The Political Economy of European Merger Control: Evidence Using Stock Market Data," CEPR Discussion Papers 3880, C.E.P.R. Discussion Papers.
  4. Bosch, Jean-Claude & Eckard, E Woodrow, Jr, 1991. "The Profitability of Price Fixing: Evidence from Stock Market Reaction to Federal Indictments," The Review of Economics and Statistics, MIT Press, vol. 73(2), pages 309-17, May.
  5. Brenner, Steffen, 2009. "An empirical study of the European corporate leniency program," International Journal of Industrial Organization, Elsevier, vol. 27(6), pages 639-645, November.
  6. Bergman, Mats A. & Jakobsson, Maria & Razo, Carlos, 2003. "An Econometric Analysis of the European Commission's Merger Decisions," Working Paper Series 2003:6, Uppsala University, Department of Economics.
  7. Rachel Griffith & Rupert Harrison & Helen Simpson, 2006. "Product market reform and innovation in the EU," IFS Working Papers W06/17, Institute for Fiscal Studies.
  8. Luca Aguzzoni & Gregor Langus & Massimo Motta, 2013. "The Effect of EU Antitrust Investigations and Fines on a Firm's Valuation," Journal of Industrial Economics, Wiley Blackwell, vol. 61(2), pages 290-338, 06.
  9. Thomas W. Gilligan, 1986. "The Competitive Effects of Resale Price Maintenance," RAND Journal of Economics, The RAND Corporation, vol. 17(4), pages 544-556, Winter.
  10. Jonathan B. Baker, 2003. "The Case for Antitrust Enforcement," Journal of Economic Perspectives, American Economic Association, vol. 17(4), pages 27-50, Fall.
  11. Klein, Gordon J., 2010. "Cartel destabilization and leniency programs: Empirical evidence," ZEW Discussion Papers 10-107, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
  12. Bittlingmayer, George & Hazlett, Thomas W., 2000. "DOS Kapital: Has antitrust action against Microsoft created value in the computer industry?," Journal of Financial Economics, Elsevier, vol. 55(3), pages 329-359, March.
  13. Ohnemus, Jörg, 2009. "Productivity effects of business process outsourcing: a firm-level investigation based on panel data," ZEW Discussion Papers 09-088, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
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