Competition Law and Policy for Practitioners - Competition Law - Lecture Slides, Slides of Competition Law and Policy

Download Competition Law and Policy for Practitioners - Competition Law - Lecture Slides and more Slides Competition Law and Policy in PDF only on Docsity! Competition Law and Policy for Practitioners Docsity.com Objectives of Module 1: The Rationale for Introducing Competition Law and Policy Upon concluding this module, participants should be able to: • Define the term “competition policy” • Explain the recent evolution of competition law in developed and developing countries • Specify the objectives and benefits of competition law Docsity.com The Three Main Categories of PROHIBITED RESTRICTIVE PRACTICES • Collusive arrangements, agreements or understandings • Abuse of dominant market power • Mergers, acquisitions or takeovers Docsity.com Two Approaches to RESTRICTIVE PRACTICES • Per se offences No defence once proved • Rule of reason Adverse effects of restriction on competition weighed against possible public benefits Docsity.com Economic reform >>> greater reliance on markets • Lowering of tariff barriers, • Removal of most quantitative import restrictions, • Reduction of subsidies to domestic producers, • Privatisation of government businesses, • Encouragement of foreign direct investment. Docsity.com Secondary Objectives of Competition Law and Policy • Limit further increases in the concentration of economic power, • Protect small and medium-sized companies, • Provision of state assistance on a non- discriminatory basis. Docsity.com Some Limitations of Competition Law 1) Doesn’t seek to change the structure of the market, 2) Monopolies may continue to earn monopoly profits, 3) Applies to domestic markets only, not to overseas markets, 4) Must not contradict other economic policies affecting competition. Docsity.com