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THE ECONOMICS OF COMPETITION POLICY: MERGER ANALYSIS IN SOUTH AFRICA
Author(s) -
Theron Nicola
Publication year - 2001
Publication title -
south african journal of economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.502
H-Index - 31
eISSN - 1813-6982
pISSN - 0038-2280
DOI - 10.1111/j.1813-6982.2001.tb00028.x
Subject(s) - competition policy , citation , competition (biology) , library science , political science , economics , law , computer science , ecology , welfare , biology
Competition policy creates a healthy business environment that is conducive to competitiveness and economic growth. An increasing number of developing countries have adopted competition policy in recent years. At least 37 developing countries and economies in transition already have competition legislation, and another 21 are in the process of revising or adopting such laws (Hoekman,1997:17). South Africa has had antimonopoly legislation since 1955. In 1979 the Maintenance and Promotion of Competition Act was passed. In 1998 the old act was replaced by new legislation, the Competition Act, no. 89 of 1998. The new act made provision for the establishment of a new Competition Authority, replacing its predecessor the Competition Board. This has taken the form of three new regulatory bodies, the Competition Commission, the Competition Tribunal and the Competition Appeal Court. The Commission and the Tribunal started their respective operations on 1 September 1999. There was some delay with the establishment of the Court of Appeal.