Abad, Anthony Amunategui --- "Competition Law and Policy in the Framework of ASEAN" [2012] ELECD 887; in Drexl, Josef; Bakhoum, Mor; Fox, M. Eleanor; Gal, S. Michal; Gerber, J. David (eds), "Competition Policy and Regional Integration in Developing Countries" (Edward Elgar Publishing, 2012)

Book Title: Competition Policy and Regional Integration in Developing Countries

Editor(s): Drexl, Josef; Bakhoum, Mor; Fox, M. Eleanor; Gal, S. Michal; Gerber, J. David

Publisher: Edward Elgar Publishing

ISBN (hard cover): 9781781004302

Section: Chapter 2

Section Title: Competition Law and Policy in the Framework of ASEAN

Author(s): Abad, Anthony Amunategui

Number of pages: 15

Extract:

2. Competition law and policy in the
framework of ASEAN
Anthony Amunategui Abad

1. INTRODUCTION
It is widely acknowledged that a strong and well-crafted framework of
competition law and policy, with effective enforcement capacity and
competition-based economic reform, promotes increased efficiency, eco-
nomic growth and development. These benefits are of particular interest to
developing countries and countries in transition, such as a number of the
economies in the Association of Southeast Asian Nations (ASEAN). During
the last decade, a majority of ASEAN member states have adopted or begun
the process of enacting competition laws. As globalization proceeds, coun-
tries are becoming substantially more open and market oriented, aware of
the adverse effects of anti-competitive practices and of the potential benefits
that derive from competition law enforcement.
The rationale for competition law and policy is compelling. A well-
designed and effective competition law and policy framework is good for
efficiency, as it promotes competitiveness; for economic growth, through
productivity gains and greater innovation; for price stability, as competition
tends to keep prices low; and for trade and investment, as it tends to make
liberalization more effective and meaningful. Consumers are the biggest
beneficiaries, as competition policy and law not only protect consumers
against monopolistic and restrictive practices but also enable them to enjoy
the fruits of competition in the form of lower prices and/or better products.
The experiences of developed and developing countries show that having
competition policy and law reinforces macroeconomic stabilization pol-
icies and contributes ...