WTO members are starting to consider whether and how to develop multilateral disciplines on competition policies. These discussions are taking place in the absence of concerted efforts to compile comparable information on the conditions of competition existing on member country markets. We argue...

We construct a model where an entrepreneur could either innovate for entry or for sale. It is shown that increased product competition tends to increase the relative profitability of innovation for sale relative to entry. Increased competition reduces entrants' and acquirers' profits in a...

This paper explores options for governments of Central and East European countries to increase the sensitivity of competition law enforcement to trade and investment policy, thereby supporting a liberal trade policy stance. The competition laws of these countries tend to resemble European Union...

This paper assesses the coherence between industrial policy, competition policy and trade policy in the European Union (EU). This assessment is undertaken from the perspective of the optimal deployment of economic policies as prescribed by economic analysis and takes into consideration the legal...

Starting in 1998, the electricity market in England and Wales will be opened up to full competition, and all consumers will be allowed to choose their electricity supplier. This promises to result in lower prices, but there will be additional transactions costs exceeding £100 million a year for...

We develop a model in which two profit maximizing exchanges compete for IPO listings. They choose the listing fees paid by firms wishing to go public and control the trading costs incurred by investors. All firms prefer lower costs, however firms differ in how they value a decrease in trading...

Do countries with lower policy-induced barriers to international trade grow faster, once other relevant country characteristics are controlled for? There exists a large empirical literature providing an affirmative answer to this question. We argue that methodological problems with the empirical...