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Competition can improve the functioning of the retail banking sector without harming prudential regulation. Customer mobility and choice are essential to stimulate banking competition; credit ratings and easy, low-cost transaction costs for switching are crucial for promoting customer mobility.
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Regulation of the legal professions, including self-regulation, typically involves many restrictions on entry and professional conduct. Certain restrictions may be a remedy to market failures and may also be based on distributional or paternalistic motives. But other restrictions can be based on rent-seeking and achieve cartel-like effects. The major policy challenge is to identify and remove the restrictions which are unnecessary or
This working paper discusses Austria’s innovation performance, its innovation policies, and general framework conditions for innovation and growth.
The OECD Secretary-General hailed the accord as a breakthrough in international trade diplomacy in a highly competitive sector. He predicted that "the agreement will focus competition for sales of civil aircraft on price and quality instead of on levels of government support”. Brazil is the first non-OECD country to join OECD countries in a trade pact relating to export credits.
O Secretário Geral da OCDE acolheu este acordo como uma etapa decisiva na diplomacia do comércio internacional num sector altamente competidor. O Secretário Geral previu que "o acordo focalizará a concorrência da venda dos aviões civis sobre o preço e a qualidade em vez dos níveis de sustentação do governo. O Brasil é o primeiro país não membro a juntar-se aos países da OCDE para um pacto de comércio sobre Créditos à Exportação.
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Governments have long been engaged in providing goods or services to their citizens that could, in some form, be provided by the private sector. The trend over the past few decades, however, has been to transfer these functions, and the state-owned assets used to provide them, to private hands. The most common method, and the one usually preferred, is privatisation, or outright sale or transfer of ownership of the relevant assets to
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Cartels are agreements among competitors fixing prices, allocating markets or rigging tenders (bids). They are the most harmful of all types of competition law violations and should be sanctioned severely. Cartel cases are unique. The most important part of a cartel case is simply proving that such an agreement existed. But getting direct evidence of a cartel agreement can be difficult. Cartel operators work in secret and often do not
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Before a firm can compete in a market, it has to be able to enter it. Many markets have at least some impediments that make it more difficult for a firm to enter a market. A debate over how to define the term “barriers to entry” began decades ago, however, and it has yet to be won. Some scholars have argued, for example, that an obstacle is not an entry barrier if incumbent firms faced it when they entered the market. Others contend
This working paper sugggest that much scope remains to make regulation of product markets more conducive to competition - notwithstanding progress in recent years - with substantial benefits for consumer welfare, productivity and employment.
This working paper looks at the housing market and the risks that it poses to the Irish economy.