Article: article from journal or magazin.
Trade and Competition Policy: Where do we stand ?
Journal of World Trade
This paper discusses critically the links between trade and competition policies, starting with the empirical literature which suggests that liberal trade policies and tight competition policy are, in a loosely defined sense, substitutes. Next, the underpinnings for the "substitution" hypothesis in a strategic environment, whereby trade liberalization may reduce the incentive to enforce anti-trust legislation, are evaluated. Political-economy motives behind trade and competition policies are then considered to discuss the incentives for a government to approve a merger when there are cross-border effects. Finally, the pros and cons for harmonization at the regional or multilateral levels are considered.
Trade policy, Competition policy, Merger, Import-discipline
Web of science
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