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Competition Law and Policy for Small Island Developing States

Competition Law and Policy for Small Island Developing States. What is Competition Law ?. Rules to level the playing field among firms Rules to help maintain competitive market structures Rules to elevate levels of consumer welfare (high quality products, low prices, innovation)

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Competition Law and Policy for Small Island Developing States

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  1. Competition Law and Policy for Small Island Developing States

  2. What is Competition Law ? • Rules to level the playing field among firms • Rules to help maintain competitive market structures • Rules to elevate levels of consumer welfare (high quality products, low prices, innovation) • Rules to maximise efficiency (dynamic, innovative, allocative) • Rules to ensure trade liberalisation is regulated

  3. What is Competition Policy? • Government Manifesto to foster market competitiveness • Commitment to removing government erected barriers to entry and growth • Engendering coherence of competition policy and government policy • Delivering support mechanisms for competition law/regime • Commitment to resisting regulatory capture

  4. The 3 Main Rules of Competition • Prohibition of Abuse of Dominance • Prohibition of Anticompetitive Agreements • Regulation of Anticompetitive Mergers

  5. Competition Legislation in Small Island Developing States: The Example of CARICOM • Chapter VIII of the Revised Treaty of Chaguaramas: Articles 177-179 • The Jamaica Fair Competition Act: s. 18, 19, 20 • The Barbados Fair Competition Act: s.13, 16

  6. What is the Goal of Competition Law in SIDS? • Overarching Goal: To foster market growth that can lead to sustainable development • Focused approach is to enhance levels of competition in the market by ensuring that there are many players in the market competing vigourously • More players in the market means they players compete on more than just price • Competition-beyond price competition-can lead to dynamic, allocative and productive effeciency • Market efficiencies and competition among businesses lead to higher levels of consumer welfare • Standards of living increase/cost of living is reduced • SIDS see effects of competition law in markets: growth of small and medium sized business, more foreign investment, less dependence on external trade • Products produced in quantities and at international standards that can boost SIDS export trade

  7. Special Conceptual Issues for Regulating Competition in SIDS • Substantive Issues • Typical Market Structures in SIDS: Family owned businesses-Oligopoly, Monopoly • Defining markets in SIDS: Market shares and indications about market power • Minimum efficiency scale in SIDs • Procedural issues • Advantages of Regional Trade Agreements

  8. Introduction to Merger Control Law in SIDS • What is Merger Control? • Do SIDS need Merger Control Regimes • CARICOM Approach to Mergers So Far: Is it Working? • Case Study: The Digicel/Claro Merger

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