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COMPETITION POLICY FOR DEVELOPING COUNTRIES: A LONG‐RUN, ENTRY‐BASED APPROACH
Author(s) -
SINGLETON ROSS C.
Publication year - 1997
Publication title -
contemporary economic policy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.454
H-Index - 49
eISSN - 1465-7287
pISSN - 1074-3529
DOI - 10.1111/j.1465-7287.1997.tb00460.x
Subject(s) - competition (biology) , developing country , industrial organization , economics , barriers to entry , process (computing) , sine qua non , competition policy , social welfare , business , welfare , international economics , international trade , public economics , market structure , market economy , economic growth , computer science , ecology , linguistics , philosophy , political science , law , biology , operating system
This paper describes key aspects of a long‐run, entry‐based approach to the design of competition policy for developing countries. A competition policy with the sole purpose of mitigating governmental, natural, and artificial barriers to entry best serves the goals of promoting the competitive process and fostering democracy. Freedom of entry is the sine qua non of the competitive process. Freedom of entry promotes the development of efficient, innovative firms capable of competing in international markets and ensures that market reforms will enhance social welfare.