Download This PaperOpen Markets in the Era of Fintech and Big Tech: Lessons for the Institutional Design of Competition Policy
final version Journal of Antitrust Enforcement 12 (2024), 148-188, under the title 'Competition enforcement versus regulation as market-opening tools: an application to banking and payment systems'
41 Pages Posted: 27 Sep 2022 Last revised: 11 Mar 2024
Date Written: September 1, 2022
Abstract
This paper analyses three routes for the formation of market-opening rules: competition enforcement, legislation, and UK-style market investigation. Using case studies on facilitating market access for innovative payment services, we identify essential features and limitations of the different modes of rulemaking. The interrelation between them is explored, revealing the merits of having them available in parallel.
Keywords: competition policy, institutional design, competition law, regulation, market investigation, open banking, fintech, big tech, payment services
JEL Classification: K21
Suggested Citation: Suggested Citation