Vigorous competition stimulates productivity and the innovation that is vital for fostering new sources of growth and competitiveness. It prevents market capture by incumbents or large firms. Competitive markets create new employment opportunities, and increase the access of consumers to cheaper and better quality products. Fair competition is one of the oldest pillars of economic progress, according to OECD Secretary-General.
Bid rigging costs governments and taxpayers billions of dollars every year. In 2011, the OECD will for the first time directly assist a member country, Mexico, as it implements tighter public procurement processes.
Jointly published by the OECD and the IDB, this report and its recommendations reflect the broad consultations held with key stakeholders in Panama. It sets out recommendations to improve Panama’s competition regime such as increasing efforts to fight cartels and strengthening public understanding of the importance of competition. It is available in English and Spanish.
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During the financial crisis many governments aided both the financial and non-financial sectors in their countries on an unprecedented scale. These emergency measures have in some cases taken precedence over competition rules. In particular the fact that governments helped some banks but not others has weakened competition in some markets, with “too big to fail” institutions commanding a higher market share than previously. This has
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This document reviews the competition policy implications of increasing penetration of renewable energy. It includes submissions from Bulgaria, the Czech Republic, the European Union, France, Greece, Hungary, Japan, the Netherlands, New Zealand, Norway, Russia, Spain, the United Kingdom, the United States and business.
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Are competition and corporate governance policies complements or substitutes? An occasional hearing session was held by Competition delegates to gain a better understanding of the interface between the two policies. They discussed conflicts of interest between shareholders and directors, as well as corporate boards that do not function well either because of interlocking directorates or a lack of substantive knowledge about the
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Collusion and corruption are distinct problems within public procurement, yet they may frequently occur in tandem, and have mutually reinforcing effect. They are best viewed, therefore, as concomitant threats to the integrity of public procurement.The distinctiveness of public procurement and its context makes the process particularly vulnerable to collusion and corruption, while also increasing the magnitude of harm that these
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Collusion and corruption are distinct problems within public procurement, yet they may frequently occur in tandem, and have mutually reinforcing effect. They are best viewed, therefore, as concomitant threats to the integrity of public procurement. The distinctiveness of public procurement and its context makes the process particularly vulnerable to collusion and corruption, while also increasing the magnitude of harm that these
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Credit ratings provide an opinion on the relative ability and willingness of parties with debt obligations to meet financial commitments. They have three functions: to measure the credit risk of the issuer, to provide a means of comparison and to provide a common standard. The credit rating market is a natural oligopoly, with three Credit Rating Agencies (CRAs) accounting for more than 90% of the market. The recent financial crisis
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Korean Competition Assessment Toolkit