Peculiarities of entrepreneur-created monopolism and institution-created monopolism

O. Kostusiev

Economy and Forecasting, 2003, issue 2, 83-98

Abstract: In the article the necessity of distinguishing between two types of monopolism, i. e. institution-created monopolism and entrepreneur-created monopolism, is substantiated. The first type is associated with the privileges and limitations which are established by power. The medieval system of guilds is a classic example. Entrepreneur-created monopolism came into being in developed countries at the end of 19th and at the beginning of 20th centuries. Transition economy is characterised by the close interlacing of institution-created monopolism and entrepreneur-created monopolism. This impedes the implementation of antimonopoly policy.

Date: 2003
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Persistent link: https://EconPapers.repec.org/RePEc:eip:journl:y:2003:i:2:p:83-98

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