Working Paper: CEPR ID: DP1441
Authors: Pedro P. Barros; Jose Mata
Abstract: Modern economies predominantly rely on the working of markets. To ensure that markets are a level playing field for economic agents, competition policies are usually included in the legal framework that regulates economic activities. Portugal is no exception to this rule. This paper reviews the legal aspects of Portuguese competition policy from an economist?s point of view, its economic implications and gives a brief account of past experience.
Keywords: competition policy; Portugal
JEL Codes: K21; L40
Edges that are evidenced by causal inference methods are in orange, and the rest are in light blue.
| Cause | Effect |
|---|---|
| Competition policy (L40) | Regulatory capture (G18) |
| Regulatory capture (G18) | Efficiency and effectiveness of competition policy (L40) |
| Lengthy judicial process (K41) | Empowerment of dominant firms (L10) |
| Lengthy judicial process (K41) | Lack of competitive pressure (L11) |
| Appeals to courts (K41) | Undermining effectiveness of competition law (K21) |
| Lack of economic expertise in judicial processes (K41) | Negative impact on competition policy enforcement (L49) |