The Welfare Goal of Antitrust Laws in Asia: For Whom Should the Law Toil?

26 Pages Posted: 27 Oct 2008

See all articles by David Round

David Round

University of South Australia - Division of Business and Enterprise - Centre for Applied Economics

Alec Zuo

University of South Australia

Abstract

It is argued that an antitrust law should include a clear, long-term, economy-wide welfare goal. For any countryespecially for developing countrieslegislating to promote the competitive process, it is essential to include in the law a clearly-specified objects clause to guide administrative and judicial conduct. Without a clear objects clause, firms, competition agencies, and the courts will not have any guidance as to the government's overarching goal when it passed the legislation. This uncertainty will lead to inefficient regulation; will run the risk of special interests being accommodated; and will lead to the likelihood of false positives and negatives being made by regulators and the courts. We review the antitrust laws in some Asian economies and find that most of them have not incorporated a clear objects clause in their statutes.

Suggested Citation

Round, David K. and Zuo, Alec, The Welfare Goal of Antitrust Laws in Asia: For Whom Should the Law Toil?. Asian-Pacific Economic Literature, Vol. 22, Issue 2, pp. 31-56, November 2008, Available at SSRN: https://ssrn.com/abstract=1288284 or http://dx.doi.org/10.1111/j.1467-8411.2008.00221.x

David K. Round (Contact Author)

University of South Australia - Division of Business and Enterprise - Centre for Applied Economics ( email )

Australia
61-8-8302-0760 (Phone)
61-8-8302-0512 (Fax)

Alec Zuo

University of South Australia ( email )

37-44 North Terrace, City West Campus
Adelaide, South Australia 5001
Australia

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