FOREWORD - COMPETITION POLICY - FINANCIAL CRISIS

Systemic risk and competition law

*This article is an automatic translation of the original article, provided here for your convenience. Read the original article.

Should market regulations and competition authorities be considered as tools for times of economic peace and public aid, or even industrial policies, as the only appropriate tools in times of crisis? With the deepening of the crisis, we can see that the first reflex of any government is to put competition rules on hold, to protect its domestic industry, or even to take advantage of the crisis to gain an illusory competitive advantage?

Should market regulations and competition authorities be considered as tools for times of economic peace and public aid, or even industrial policies, as the only appropriate tools in times of crisis? As the crisis deepens, we see that the first reflex of any government is to put competition rules on hold, to protect its domestic industry, or even to take advantage of the crisis to gain an illusory competitive advantage. Limiting imports by invoking dumping clauses, reserving its financial guarantees for its nationals, and lending to indigenous banks on advantageous terms are all part of the same logic: in the face of the crisis, protection is superior to openness, and national identity takes precedence over territorial anchorage. The public aid that was thought to be limited to the

Access to this article is restricted to subscribers

Already Subscribed? Sign-in

Access to this article is restricted to subscribers.

Read one article for free

Sign-up to read this article for free and discover our services.

 

PDF Version

Author

Quotation

Elie Cohen, Systemic risk and competition law, February 2009, Concurrences N° 1-2009, Art. N° 23271, pp. 1-2

Visites 3865

All reviews