The coronavirus (COVID-19) pandemic has provoked a public health crisis without precedent in living memory. In addition to causing large-scale loss of life and severe human suffering, the pandemic has also set in motion a major economic crisis that will burden our societies for years to come. The OECD is contributing to a co-ordinated policy response across countries and competition policy is one dimension of that response.
History has shown that the the same basic principles of competition economics apply during times of economic recession as during times of economic expansion. Sound competition policy is all the more important in moments of crisis to ensure that the crisis is solved and the subsequent economic recovery, as fast and sustained as possible. This requires competition authorities to act today to help the overall policy response of governments to deal with this crisis in a sustainable way. Governments need to be receptive to advice from competition authorities to make sure that competition principles can be respected and help pave the way to recovery.
This page groups competition-related responses that can help guide the actions of governments and competition authorities in today's challenging times.
This policy brief discusses how competition policy can help address the immediate challenges raised by the COVID crisis while preparing for the post-pandemic future. Also available in Spanish.
This short note outlines actions that governments and competition authorities can consider to help address the immediate challenges raised by the crisis whilst looking to the post-pandemic future.
This note looks at the operational challenges and enforcement risks for competition authorities arising from the crisis and the confinement measures and provides some guidance to authorities.
This note examines the conditions when direct awards may be necessary for emergency reasons and provides guidance for procurement and competition authorities for when departing from competitive tenders may be justified.
Merger control in the time of COVID-19 25/05/2020
In the context of COVID-19, this note analyses some key challenges related to merger control that competition authorities will face in the following months and presents open issues that require further discussion to ensure consistency across jurisdictions.
Exploitative pricing in the time of COVID-19 26/05/2020
This note analyses the role of competition agencies facing high prices caused by the Covid-19 crisis. It discusses the circumstances under which competition enforcement may be justified, how to overcome the difficulties that competition authorities pursuing such a course are likely to face, and available regulatory alternatives to address high prices during a pandemic.
This note identifies some of the criteria that competition authorities may consider when assessing co-operation between competitors in the context of the Covid-19 pandemic, and presents solutions to some of the challenges raised by their analysis. Some potential issues are highlighted to prompt further discussion.
In this podcast, Frederic Jenny, Professor of Economics at ESSEC Business School in Paris and chair of the OECD Competition Committee explores questions such as: Why have our economies been so badly affected by the coronavirus crisis? What questions does the crisis raise about globalisation, and about markets? Can competition policy help? How can governments be better prepared in future?
In this video, Frederic Jenny, Professor of Economics at ESSEC and Chair of the OECD Competition Committee, shares his views on the impact of COVID-19 on global economies and how markets have responded to the social and economic challenges raised by the health and economic crisis that follows it. He also explores in particular the challenges faced by competition policy and authorities.
This opinion piece by Frederic Jenny reflects on economic, competition and social policy issues in the time of COVID-19.
This special supplement to the July 2020 newsletter of the OECD-GVH Centre for Competition compiles OECD work on the topic and contains articles by competition experts on their country's experiences. Read it here. Also available in Russian. Access all centre's newsletters here.
ICN/OECD WEBINAR: Competition Investigations during the COVID-19 Crisis
As part of a broader project aiming to improve international co-operation on enforcement, the OECD and the ICN held a joint webinar for competition authorities to discuss investigations during the COVID-19 crisis. Frédéric Jenny (Chair of the Competition Committee) and Andreas Mundt (Steering Group Chair of the ICN and President of the Bundeskartellamt) opened the event. Interveners from the competition authorities of Australia, Brazil, the Caribbean, Canada, Chinese Taipei, the European Commission, Lithuania, South Africa, US and the UK gave their perspectives on the issues they have tackled. The webinar allowed authorities to share information that was timely and relevant to the operational decisions they were making at the time.
Key materials discussed during the event
WEBINAR: Merger Control in times of crisis 26/05/2020
Merger control will have an important role to play in the following months and years as a result of the COVID crisis. The pandemic raises a number of substantive challenges that authorities will need to deal with, including how to assess competitive effects of mergers in time of uncertainty and the role for the failing firm defence.
Over 220 participants from competition authorities of more than 60 jurisdictions attended two webinars on Merger Control in time of crisis. Expert speakers included Massimo Motta (ICREA Research Professor, Universitat Pompeu Fabra and Barcelona Graduate School of Economics), Peter Alexiadis (Visiting Professor at King’s College and Partner at Gibson, Dunn & Crutcher), Diana Moss (President, American Antitrust Institute) and Mark Powell (Partner, White & Case). In addition, 16 authorities presented their experiences and views during the discussion.
WEBINAR: Antitrust in times of Crisis 28/05/2020
Over 230 participants from 65 jurisdictions attended two webinars on Antitrust in times of Crisis where experts and agency representativesdiscussed the challenges from the COVID-19 crisis for enforcement activities against anticompetitive agreements and excessive pricing.
Expert speaker Richard Whish (King’s College London) presented on competitor collaboration and gave his thoughts on the flexibility of the existing legal frameworks, while John Davies (Compass Lexecon) provided his thoughts as an economist on how to deal with prices spikes. In addition, 16 other jurisdictions presented their experiences over during the discussion.
ROUNDTABLE: Competition Policy in the Time of Covid-19
Around 180 participants attended a virtual roundtable by the Competition Committee on co-operation between competition authorities and other public policy makers in times of crisis, and in particular, during the present Covid-19 crisis. OECD Secretary General Angel Gurría opened the discussions which were followed by presentations by two keynote speakers: Sir John Stuart Vickers, (Drummond Professor of Political Economy at the University of Oxford) and Janusz Ordover (Professor of economics, University of New York). Following these presentations, a panel discussion allowed heads of competition authorities to share the experience of their agencies on the topic.
The session provided an opportunity to reflect on lessons learned, particularly, but not only, the financial crisis of 2008, and discussed practical solutions on how to best interact with governments in a way that preserves well-functioning and competitive markets in this crisis.
Related OECD Competition workCompetitive Neutrality (2015)
Crisis Cartels (2011)
Exit Strategies (2010)
Excessive Prices (2011)
Failing Firm Defence (2009)
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