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Virtues and limitations of product market competition : Korean experience

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Frame of Image  experience are critical elements. Especially, in developing countries and transition economies the introduction of competition laws and their enforcement are challenging tasks. In addition, the validity of competition policy is often questioned since markets are not well established in many sectors due to a severe lack of information, insecure property rights, weak judicial infrastructures, and other institutional deficiencies. Nevertheless, the need for converging the core principles and processes of competition enforcement is emphasized more than ever as globalization deepens and more firms are under obligation to comply with competition laws in many different countries. Accordingly, the convergence in the standard and process of competition policy is now being discussed through both bilateral and multilateral channels such as the World Trade Organization (WTO) negotiations. Against this background, this study by Dr. Somi Seong, KDI Fellow, addresses both timely and important issues. The author explores the relationship between competition and economic performance in the context of Korea’s development process and draws competition policy implications for both Korea and other developing countries. The author expresses her gratitude to two anonymous referees for constructive comments and Sangbong Oh and Sookyung Lee for the collection of data and formatting the paper.
December, 2003 Choongsoo Kim President Korea Development Institute
Abstract
Does competition improve economi


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Title Virtues and limitations of product market competition
Similar Titles
Sub Title

Korean experience

Material Type Reports
Author(English)

Seong, Somi

Publisher

Seoul:Korea Development Institute

Date 2003-12
Pages 57
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Economic Administration
Holding Korea Development Institute