Since the early 1990s, numerous countries have adopted or strengthened competition legislation. In this paper we investigate the impact of competition law on markups of industries over time across a large number of countries. We find measures of external and internal competition (imports and the...

Introduction -- The emergence of competition policy regimes -- The errors of antitrust -- The performance gap -- What is competition policy? -- Sources of error in antitrust practice -- What is different in developing and transition economies? -- The political economy of antitrust enforcement --...