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Is competition law essential to achieve competition policy objectives?

Is competition law essential to achieve competition policy objectives?. The quiet revolution suggests YES. Singapore and Hong Kong- contrary views?. Hong Kong – no generic competition law, but many pro-competition measures Singapore – introducing competition law. What is competition policy?.

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Is competition law essential to achieve competition policy objectives?

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  1. Is competition law essential to achieve competition policy objectives? The quiet revolution suggests YES.

  2. Singapore and Hong Kong- contrary views? • Hong Kong – no generic competition law, but many pro-competition measures • Singapore – introducing competition law

  3. What is competition policy? • Making markets work better • Efficiency • Fairness • Broad definition includes many public policies

  4. Trade liberalisation and de-regulation not sufficient • Non-tradables • Non-liberalised sectors • Lack of import response

  5. Advantages of competition law • Applies broadly – less distorting • Reduces scope for corruption • Problem of international cartels – countries without competition law targeted more • Provides a focus for pro-competition measures – privatisation – regulated sectors

  6. Conclusions • Policy measures without competition law help create a competitive environment • But there will be gaps which competition law can fill • Effective competition policy requires a competition law

  7. Advantages of competition law Applies broadly so less distorting Reduces scope for corruption Problem of international cartels

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