Competition Protection and Market Efficiency

Eduard Marinov

Scientific Conference of the Department of General Economic Theory, 2022, issue 1, 244-252

Abstract: Today, the role of government in a free market economy is being reviewed from both a theoretical and a practical perspective. It is widely believed that direct state intervention in the markets has serious limitations. On the other hand, there are concerns about the vitality and competitiveness of developed economies and their continued ability to provide a high and increasing standard of living. In this context, there is a renewed interest in the role of government in creating conditions for promoting national competitiveness and prosperity. Thus there is also increased interest in competition policy and its effects on economic restructuring. The aim of the study is to assess the role of competition policy for the efficiency of markets based on a review of economic theory. The paper discusses the relationship between competition policy and broader economic policy objectives affecting industrial restructuring, international competitiveness, and microeconomic theory in general.

Keywords: Competition policy; Government intervention; Market efficiency; National competitiveness (search for similar items in EconPapers)
JEL-codes: D40 L10 L40 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:vrn:oitcon:y:2022:i:1:p:244-252

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