Regulating big tech

Luigi Zingales

No 1063, BIS Working Papers from Bank for International Settlements

Abstract: Digital markets are global in nature and prone to "tipping". The combination of these two factors makes the distortions of the inevitable monopolies in these markets very large, but it also undermines any effort at dealing with these distortions at a national level. I argue that the problem can only be solved by structural interventions that restore conditions for competition. Yet, no national regulator will have the ability to do so. Regulation can only arise in an international context. Paradoxically, the increasing international tension can create political opportunities for such international regulation.

Keywords: Big tech; regulation; market power (search for similar items in EconPapers)
JEL-codes: L5 L86 (search for similar items in EconPapers)
Date: 2022-12
New Economics Papers: this item is included in nep-com, nep-law, nep-pay and nep-reg
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