Concentration and Competition: Evidence From Europe and Implications For Policy1

Gábor Koltay, Szabolcs Lorincz and Tommaso Valletti

Journal of Competition Law and Economics, 2023, vol. 19, issue 3, 466-501

Abstract: The paper provides new evidence on proxy indicators of market power for major European countries. The data show moderately increasing average industry concentration over the last two decades, a considerably increasing proportion of high-concentration industries, and an overall tendency toward oligopolistic structure. Estimates of aggregate profitability also show a sustained increase over the recent decades for European economies. Although the academic and policy debate is not settled as to whether the causes of these trends are policy driven or reflect technological improvement, our findings suggest that competition policy is likely to face more challenges as large companies are becoming more common in more and more industries.

Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:oup:jcomle:v:19:y:2023:i:3:p:466-501.

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Journal of Competition Law and Economics is currently edited by Nicholas Economides, Amelia Fletcher, Michal Gal, Damien Geradin, Ioannis Lianos and Tommaso Valletti

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