| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP12983 |
| DP12983 How EU Markets Became More Competitive Than US Markets: A Study of Institutional Drift | |
| Thomas Philippon; German Gutierrez | |
| 发表日期 | 2018-06-10 |
| 出版年 | 2018 |
| 语种 | 英语 |
| 摘要 | Until the 1990's, US markets were more competitive than European markets. Today, European markets have lower concentration, lower excess profits and lower regulatory barriers to entry. We document this surprising outcome and propose an explanation using a model of political support. Politicians care about consumer welfare but also enjoy retaining control over industrial policy. We show that politicians from different countries who set up a common regulator will make it more independent and more pro-competition than the national ones it replaces. Our comparative analysis of antitrust policy reveals strong support for this and other predictions of the model. |
| 主题 | Financial Economics |
| URL | https://cepr.org/publications/dp12983 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/541791 |
| 推荐引用方式 GB/T 7714 | Thomas Philippon,German Gutierrez. DP12983 How EU Markets Became More Competitive Than US Markets: A Study of Institutional Drift. 2018. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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