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Competition Law and Policy for Small Island Developing States PowerPoint Presentation
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Competition Law and Policy for Small Island Developing States

Competition Law and Policy for Small Island Developing States

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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