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Book part
Publication date: 4 November 2021

Mark Clough QC and Efthymios Bourtzalas

Competition law is key to the promotion of consumer welfare and consumer choice, efficiency maximization, market integration, market liberalization, and competitiveness. The…

Abstract

Competition law is key to the promotion of consumer welfare and consumer choice, efficiency maximization, market integration, market liberalization, and competitiveness. The review of the evolution of competition law enforcement in Greece shows that it has run in parallel with the path of the Greek economy toward liberalisation modernisation, development and growth. Upon this basis, competition law has contributed to increased levels of investment in the Greek economy, the development of new services and new corporate structures and accountability in Greece. In a fast changing world, in which market and societal development is increasingly interdependent across national borders, the question now turns on to whether competition law enforcement in Greece ought also to take into account public policy objectives, such as environmental protection and sustainability or industrial policy objectives. The competition law enforcement authorities and national Courts have made great progress in the last 20 years in keeping abreast with developments in respect of competition law compliance and enforcement and this has provided a better guarantee for a level playing field and fairer conditions of competition in the various product and services markets in Greece.

Book part
Publication date: 18 April 2015

Flavio Felice and Massimiliano Vatiero

It is often “assumed,” even among well-informed lawyers and economists, that European competition law is an emulation of the US antitrust law because of American influence on…

Abstract

It is often “assumed,” even among well-informed lawyers and economists, that European competition law is an emulation of the US antitrust law because of American influence on European political and economic debates after the Second World War. However, such an assumption is disputable: in accordance with Professor Gerber, the competition law in Europe is an indigenous product based primarily on ideas developed in Germany by the so-called ordoliberal thought. In this respect, the article 102 TFEU may be considered a proof. The aims of this article are to furnish a critical examination of ordoliberal ideas of anticompetitive conducts and underline the relevance of ordoliberal thought for the development of the modern European competition law.

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A Research Annual
Type: Book
ISBN: 978-1-78441-154-1

Keywords

Abstract

Many jurisdictions fine illegal cartels using penalty guidelines that presume an arbitrary 10% overcharge. This article surveys more than 700 published economic studies and judicial decisions that contain 2,041 quantitative estimates of overcharges of hard-core cartels. The primary findings are: (1) the median average long-run overcharge for all types of cartels over all time periods is 23.0%; (2) the mean average is at least 49%; (3) overcharges reached their zenith in 1891–1945 and have trended downward ever since; (4) 6% of the cartel episodes are zero; (5) median overcharges of international-membership cartels are 38% higher than those of domestic cartels; (6) convicted cartels are on average 19% more effective at raising prices as unpunished cartels; (7) bid-rigging conduct displays 25% lower markups than price-fixing cartels; (8) contemporary cartels targeted by class actions have higher overcharges; and (9) when cartels operate at peak effectiveness, price changes are 60–80% higher than the whole episode. Historical penalty guidelines aimed at optimally deterring cartels are likely to be too low.

Details

The Law and Economics of Class Actions
Type: Book
ISBN: 978-1-78350-951-5

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Book part
Publication date: 1 October 2007

Mattias Ganslandt

Intellectual property rights and competition policy are intimately related. In this chapter I survey the economic literature analyzing the interaction between intellectual…

Abstract

Intellectual property rights and competition policy are intimately related. In this chapter I survey the economic literature analyzing the interaction between intellectual property law and competition law and how the boundary between these two policies is drawn in practice. Recognizing that intellectual property rights and competition law can interact in many different ways, the presentation focuses on several key issues. The economic literature on the interaction between competition law and intellectual property rights shows that these regulatory systems are consistent in terms of basic principles. Significant tensions exist, however, and it is difficult to balance IPR and competition law in practice. The significant differences in approach between the United States and the European Union simply reflect the underlying reality that efforts to achieve a sensible balance do not result in policy harmonization.

Details

Intellectual Property, Growth and Trade
Type: Book
ISBN: 978-1-84950-539-0

Book part
Publication date: 1 March 2022

Gani Asllani and Simon Grima

Purpose: Like other Southeast European countries, Kosova applies the principles of a market economy. Despite the difficulties, in the efforts to create a free and competitive

Abstract

Purpose: Like other Southeast European countries, Kosova applies the principles of a market economy. Despite the difficulties, in the efforts to create a free and competitive market economy, Kosovo must undertake reforms to face the reality of economic integration and global markets in general. In this regard, an important aspect is the implementation of economic reforms, the justice system, and the effective implementation of competition law under the ‘Acquis communautaire’. Therefore, the purpose of the research is to analyse the issues related to the regulation and protection of competition in Kosovo, with particular attention to controlling the concentration of enterprises based on EU practices.

Methodology: In answering the above questions, we carried out a desk review of comprehensive professional literature, EU treaties and directives, international competition institutions standards and requirements as well as other national laws and legal acts.

Findings: Moderate progress has been made, but the necessary steps are still taken to have a competitive economy and to be in the right position for EU integration. Concentrations are one of the important parts of competition law where through this practice it is possible to merge and acquire enterprises. Many cases of abuse can be encountered in this type of practice, so the role of competent supervisory authorities is necessary to regulate them. Concentration problems have been addressed since the establishment of joint ventures and their operation within the market modernisation becomes more complex both in the application and in the investigation by the competent controlling authorities. The analysis and functioning of the internal market, as well as the lack of practices in the field of concentration within an effective competition, is the focus of this chapter.

Significance: This chapter addresses issues raised in terms of competition law and possible improvements that can be made through the implementation of European regulations, creating market stability and sustainable economies in the long-run.

Details

Managing Risk and Decision Making in Times of Economic Distress, Part A
Type: Book
ISBN: 978-1-80117-427-5

Keywords

Book part
Publication date: 21 May 2021

G. Asllani, S. Grima and Sh. Citaku

Purpose: This chapter addresses the main issues about regulation and protection of competition in Kosovo, with particular attention given to the control of enterprises…

Abstract

Purpose: This chapter addresses the main issues about regulation and protection of competition in Kosovo, with particular attention given to the control of enterprises concentration. The importance of controlling concentrations is based on the fact that enterprise concentration, whether local or international, can produce unequitable market conditions, creating monopolistic positions for some. Therefore, control of access from the Competition Authority is necessary, in order for competition to a level playing field for all.

Design/Methodology/Approach: The authors carried out a desk review of academic literature, the national reports provided by the competition authority and international institutions, competition law and other available important data. This is to determine and highlight the development of economic competition and control of concentrations, for example regulation and supervision in Kosovo and to determine whether this is in line with European Union directives.

Findings: Findings show that competition in Kosovo is still at a phase of development and more is needed to improve and ensure an adequate competition regime in accordance with EU regulations and practices. Significant efforts are necessary to improve legislative alignment and enforcement, specifically on control of mergers and acquisitions.

Practical Implications: The authors herein propose a few measures to be undertaken in order to ensure the effective implementation of the law on the protection of competition and the market economy.

Originality/Value: The authors define the needs for strengthening and the implementation of Competition Law in Kosovo, such as undertaking the proper coordinated steps in order to have adequate competition authority.

Details

New Challenges for Future Sustainability and Wellbeing
Type: Book
ISBN: 978-1-80043-969-6

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Book part
Publication date: 28 September 2023

Victoria Cociug and Carolina Parcalab

The competitiveness of companies and their capacity to join markets have changed as a result of the digital economy. One of the reasons the European Commission will revise the…

Abstract

The competitiveness of companies and their capacity to join markets have changed as a result of the digital economy. One of the reasons the European Commission will revise the rules governing block exemptions for R&D agreements and begin consulting stakeholders in March 2022 is the impact of digitalisation on markets. This chapter looks into how digitalisation has impacted the competitive analysis and evaluation that Moldovan businesses and the competition authority must conduct when looking at R&D collaborations.

For the purposes of the research in this chapter, we used methods such as analysis, deduction, induction, and synthesis of conceptual approaches to the digitalization of the competitive assessment, to elucidate the factors influencing competitiveness in R&D agreements. We also assessed the situation in the Republic of Moldova to formulate conclusions and own opinions about how the introduction of new processes and products on the market will stimulate competition among national firms and will strengthen their ability to compete in regional or even international markets. The recommendations and proposals for improving the management of competence to encourage businesses to innovate collaborate and exchange knowledge to produce innovative goods and services, including green economy solutions and initiatives with the security to comply with a competition policy adapted to the requirements of the new economy, as well as to the new changes in the European competition policy.

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Digital Transformation, Strategic Resilience, Cyber Security and Risk Management
Type: Book
ISBN: 978-1-83797-009-4

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Book part
Publication date: 19 September 2006

Teresa Rodríguez de las Heras Ballell

EU competition policy may be explained as a system: an organized set of objectives, rules, functions, procedures and authorities, acting in unity. A system is a complex reality…

Abstract

EU competition policy may be explained as a system: an organized set of objectives, rules, functions, procedures and authorities, acting in unity. A system is a complex reality, immersed in a complex context and permanently changing to overcome its dysfunctionalities and to adapt itself to environmental challenges. Globalization is its major challenge today. This paper proposes to understand globalization from four viewpoints. EU competition policy should respond to an evolutionary, contradictory, relative and systemic globalization. The aim of this paper is to identify the responses adopted in order to react to all these different dimensions of globalization.

Details

European Responses to Globalization
Type: Book
ISBN: 978-0-76231-364-8

Abstract

Purpose

The goal of this chapter is to analyse the decisions of the Croatian Competition Agency in the field of grocery retail mergers in the 2004–2009 period. In particular, various criteria used by the Competition Agency to evaluate grocery retail mergers are identified and discussed.

Design/methodology/approach

Using the comparative approach the author attempts to detect the relevant sources for certain solutions embraced by the Competition Agency by examining especially the relevant practice of the European Commission as well as relevant decisions adopted by some competition authorities in EU member states.

Findings

The grocery retail market in Croatia has seen a flurry of mergers since 2004 with the largest competitor spreading to various local markets. For the Croatian competition authority this merger wave has perhaps been the biggest challenge since its inception. In the face of growing market concentration, the authority saw fit to shift from initially providing green light to duly notified transactions to subsequently addressing serious competition concerns by ordering a number of remedies. The Croatian competition authority relied extensively on EU acquis when deciding on specific merger cases, especially as regards the relevant market definition.

Originality/value

The value of the chapter is reflected in the fact that this kind of comparative analysis of Croatian merger cases in the field of grocery retail mergers was not available before. It is especially in the light of the accession of Croatia to the EU, as foreseen on 1 July 2013, that this kind of study becomes useful both for domestic but also EU audience.

Details

Challenges for the Trade of Central and Southeast Europe
Type: Book
ISBN: 978-1-78190-833-4

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