An Empirical Assessment of the 2004 EU Merger Policy Reform

WZB Discussion Paper SP II 2010-16

36 Pages Posted: 8 Dec 2010 Last revised: 31 Jul 2013

See all articles by Tomaso Duso

Tomaso Duso

German Institute for Economic Research (DIW Berlin); TU Berlin- Faculty of Economics and Management - Empirical Industrial Organization; Centre for Economic Policy Research (CEPR)

Klaus Peter Gugler

Vienna University of Economics and Business; European Corporate Governance Institute (ECGI)

Florian Szücs

Vienna University of Economics and Business

Date Written: July 2013

Abstract

We evaluate the economic impact of the change in European merger legislation in 2004 and propose a general framework focusing on four different policy dimensions: 1) predictability, 2) decision errors, 3) reversion of anti-competitive rents, and 4) deterrence. We find that after the reform the predictability and the accuracy of decisions have improved. Yet, the policy shift away from prohibitions, which entail both an immediate and a deterrent effect, does not seem to be well-grounded.

Keywords: merger control, regulatory reform, EU Commission, event-study

JEL Classification: L4, K21, C13, D78

Suggested Citation

Duso, Tomaso and Gugler, Klaus Peter and Szücs, Florian, An Empirical Assessment of the 2004 EU Merger Policy Reform (July 2013). WZB Discussion Paper SP II 2010-16, Available at SSRN: https://ssrn.com/abstract=1721412 or http://dx.doi.org/10.2139/ssrn.1721412

Tomaso Duso (Contact Author)

German Institute for Economic Research (DIW Berlin) ( email )

Mohrenstraße 58
Berlin, 10117
Germany

TU Berlin- Faculty of Economics and Management - Empirical Industrial Organization ( email )

Berlin, 10585
Germany

Centre for Economic Policy Research (CEPR)

London
United Kingdom

Klaus Peter Gugler

Vienna University of Economics and Business ( email )

Welthandelsplatz 1
Vienna, Wien 1020
Austria

HOME PAGE: http://www.wu.ac.at/iqv/mitarbeiter/gugler

European Corporate Governance Institute (ECGI)

c/o the Royal Academies of Belgium
Rue Ducale 1 Hertogsstraat
1000 Brussels
Belgium

HOME PAGE: http://www.ecgi.org

Florian Szücs

Vienna University of Economics and Business ( email )

Welthandelsplatz 1
Vienna, Wien 1020
Austria

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Downloads
204
Abstract Views
1,376
rank
187,413
PlumX Metrics