The Institutional environment as a factor of the protection and the development of economic competition

Sergei Fedorov ()
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Sergei Fedorov: Department of Economics, Lomonosov Moscow State University

No 41, Working Papers from Moscow State University, Faculty of Economics

Abstract: The protection and the development of economic competition always take place in the context of the institutional environment. In particular, the influence of this context manifests itself in the form of differences in approaches to industrial regulation, in variations of the administrative barriers to economic activity, and in distortions of antitrust practicies after their cross-country transplantation. This article analyzes the impact exerted by institutional environment on the economic competition by combining two approaches within the framework of the New institutional economics («social orders» by D. North et al. and O. Williamson's «mechanisms of governance»). The analysis allows us to conclude that the opportunism of politicians, along with the opportunism of market players, can cause restrictions on economic competition.

Keywords: protection and development of competition; institutional environment; mechanisms of governance (search for similar items in EconPapers)
JEL-codes: L40 L50 L51 (search for similar items in EconPapers)
Pages: 21 pages
Date: 2022-05
New Economics Papers: this item is included in nep-com, nep-his and nep-ind
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