This European survey examines (a) Current enforcement of competition policy in Europe is not working to promote innovation and growth; b) European Union bureaucracy and regulations are a substantial constraint on innovation in Europe; c) The conduct of the dominant US tech companies in European markets (including lobbying and acquisition of start-ups and competitors) is a substantial constraint on innovation in Europe
Keyword: competition policy
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This European survey examines (a) Constraints on the anti-competitive behavior of dominant firms in the digital economy can in principle be effectively implemented using the existing tools of competition policy and antitrust enforcement; (b) The effectiveness of existing antitrust regimes in constraining anti-competitive behavior is substantially limited by the inadequacy of the resources available to competition and regulatory agencies relative to the dominant firms of the digital economy; (c) Constraints on the anti-competitive behavior of dominant firms in the digital economy would be more effectively implemented than at present with ex-ante regulation such as Europe's Digital Markets Act and other forms of public utility regulation. Details on Digital Markets Act here: https://digital-markets-act.ec.europa.eu/index_en
This US survey examines (a) Constraints on the anti-competitive behavior of dominant firms in the digital economy can in principle be effectively implemented using the existing tools of competition policy and antitrust enforcement; (b) The effectiveness of existing antitrust regimes in constraining anti-competitive behavior is substantially limited by the inadequacy of the resources available to competition and regulatory agencies relative to the dominant firms of the digital economy; (c) Constraints on the anti-competitive behavior of dominant firms in the digital economy would be more effectively implemented than at present with ex-ante regulation such as Europe's Digital Markets Act and other forms of public utility regulation. Details on Digital Markets Act here: https://digital-markets-act.ec.europa.eu/index_en
This European survey examines (a) Loosening regulations on state aid to allow targeted incentives for companies in certain sectors will substantially improve the EU’s relative attractiveness for corporate investment; (b) Loosening regulations on state aid will give a substantial advantage to the economies of EU members with stronger public finances; (c) Even if looser regulations on state aid are temporary, they risk permanent damage to the EU’s longstanding competition policy regime
This week's US Economic Experts Panel statements:
A) Industry consolidation and weaker competition in the United States meaningfully constrain innovation and wage growth.
B) Americans pay too much for broadband, cable television, and telecommunications services, in part because of a lack of adequate competition.
This week's IGM European Economic Experts Panel Statements:
A) The average European is better off if Europe’s competition authorities let firms merge into European champions in their sectors, even it weakens competition.
B) If China and other countries use policies that create giant international firms, then the average European is better off if Europe's competition authorities let firms merge into European champions in their sectors, even it weakens competition.
This week's IGM Economic Experts Panel statement:
The European Union often uses its antitrust powers to protect EU-based firms from international competition, rather than to promote greater competition in European markets.
This week's IGM European Economic Experts Panel Statement:
The European Union often uses its antitrust powers to protect EU-based firms from international competition, rather than to promote greater competition in European markets.
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