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The Role of Market Power in Economic Growth: An Analysis of the Differences between EU and US Competition Policy Theory, Practice and Outcomes

European Journal of Government and Economics Volume 5, Number 1 (June 2016) ISSN: 2254-7088.
2016
  • 1
    Citations
  • 1,334
    Usage
  • 3
    Captures
  • 0
    Mentions
  • 0
    Social Media
Metric Options:   Counts1 Year3 Year

Metrics Details

  • Citations
    1
    • Citation Indexes
      1
  • Usage
    1,334
    • Abstract Views
      1,051
    • Downloads
      283
  • Captures
    3
    • Readers
      2
      • SSRN
        2
    • Exports-Saves
      1
      • SSRN
        1
  • Ratings
    • Download Rank
      216,929

Paper Description

The European Union has experienced relatively weak economic performance over the past fifteen years, notably compared to the U.S. In order to restore investment, innovation, and therefore growth, the European Commission seeks to raise the level of static competition in all markets. The Commission’s economic policy is largely determined by its competition policy. This policy is derived from its doctrine on competition law, which regards the exercise of market power as a source of inefficiency and advocates that its effects should be banned. By contrast, the U.S. competition authorities, under the influence of the Chicago School, consider that market power is a necessary incentive to invest and a fair return on investment. Recent findings in economic growth theory, which state that increased competition intensity may harm endogenous innovation, provide a theoretical basis to support the U.S. approach and call for a review of European doctrine.

Bibliographic Details

Stephane Ciriani; Marc Lebourges

antitrust; competition; endogenous growth; innovation; market power; market structure

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