Williams, Mark --- "Introduction" [2013] ELECD 735; in Williams, Mark (ed), "The Political Economy of Competition Law in Asia" (Edward Elgar Publishing, 2013) 1

Book Title: The Political Economy of Competition Law in Asia

Editor(s): Williams, Mark

Publisher: Edward Elgar Publishing

ISBN (hard cover): 9781781001677

Section: Chapter 1

Section Title: Introduction

Author(s): Williams, Mark

Number of pages: 10

Abstract/Description:

The political economy environment within which competition policy and law has to operate is a subject that is not always given sufficient attention by academic lawyers and economists from developed jurisdictions, that enjoy robust democratic institutions, and the rule of law. This essential institutional infrastructure is often deficient in developing countries. This book suggests that nation-specific environmental factors are vitally important when considering and explaining the reasons why a country adopts a competition policy or law, the nature of the substantive legal instrument, the architecture of the enforcement machinery, the remedies provided or applied and, ultimately, whether the law can and will be enforced effectively in order to achieve the accepted benefits of a more competitive economy. Commentators from developed liberal democracies sometimes overlook the vitally important role of representative and accountable government, the rule of law, an efficient and effective public service, and low levels of corruption in governmental and business affairs. The contributors to this book consider that they are essential prerequisites for the creation and effective operation of a pro-competition policy and law.