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A Political Economy Model of Merger Policy in International Markets

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Author Info
Motta, Massimo
Ruta, Michele

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Abstract

This paper looks at the political economy of merger policy under autarky and in international markets. We assume that merger policy is decided by antitrust authorities (whose objective is to maximize welfare) but can be influenced by governments, which are subject to lobbying by the firms (be they insiders or outsiders to the merger). We argue that political economy distortions may explain some of the recently observed merger policy conflicts between authorities and politicians, as well as between institutions belonging to different countries. We illustrate our analysis with applications motivated by recent merger cases, which have been widely debated in the international press.

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Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 6894.

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Date of creation: Jun 2008
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Handle: RePEc:cpr:ceprdp:6894

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Related research
Keywords: Antitrust policy European Union Lobbying Mergers

Find related papers by JEL classification:
D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Models of Political Processes: Rent-seeking, Elections, Legislatures, and Voting Behavior
F59 - International Economics - - International Relations and International Political Economy - - - Other
H11 - Public Economics - - Structure and Scope of Government - - - Structure and Scope of Government
L40 - Industrial Organization - - Antitrust Issues and Policies - - - General

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This page was last updated on 2008-11-7.

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