While Ireland’s economic performance has been impressive, there are too many sectors where producers are shielded from competition, at the expense of consumers. The loss in efficiency from these policies will become more noticeable as Ireland’s growth rate settles down towards more normal levels. International evidence suggests that enhancing competition is an important means for lowering prices and boosting productivity and innovation. This paper reviews the main areas for reform, including retail trade, pharmacies, professional services such as legal and medical services, and various network industries including electricity, telecommunications and inter-city buses. It also appraises the structure and enforcement of competition law.
