Joseph Stiglitz (Columbia University): Competition policy, the need for a more nuanced view

Professor Stiglitz, you have given a great deal of thought to competition policies in developing countries and you have been very important in helping many of them frame their policy objectives. You also have been a leader in thinking about globalization and its impacts. Thank you for agreeing to share your thoughts on these important topics. What do you think are the greatest impacts of globalization on developing countries, and, to the extent that they are harmful, can competition policy help and how? The impacts of globalization differ depending on the country—from opening up trade opportunities, to investment and the transmission of ideas. One of the concerns is that firms in developing countries are, almost by their nature, small, new, and less experienced. One of the problematic