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Product Market Competition and Economic Performance

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Abstract

Increased competition in product markets, as well as being good for consumers, can also boost productivity and employment, according to the study Product Market Competition and Economic Performance by the OECD. Competition improves productivity through a more efficient use of resources. At the same time it can encourage innovation and the rapid spread of new technology. Reforms to make product markets more dynamic will also boost real wages as prices are lowered through increased competition. The study argues that reforms undertaken between the late 1970s to the late 1990s, such as the liberalisation of telecommunications industries, increased employment rates in OECD countries by an average of 1.5 percentage points, reaching 2.5 percentage points in economies where pro-competition policies were pursued most vigorously. This study forms a chapter in the OECD Economic Outlook No. 72 published in December 2002.

Suggested Citation

  • Oecd, 2003. "Product Market Competition and Economic Performance," OECD Journal: Competition Law and Policy, OECD Publishing, vol. 4(4), pages 25-34.
    • Handle: RePEc:oec:dafkaa:5lmqcr2k268x
    DOI: 10.1787/clp-v4-art14-en
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    Cited by:

    1. Harald Badinger & Niklas Maydell, 2009. "Legal and Economic Issues in Completing the EU Internal Market for Services: An Interdisciplinary Perspective," Journal of Common Market Studies, Wiley Blackwell, vol. 47(4), pages 693-717, September.
    2. Acocella, Nicola & Di Bartolomeo, Giovanni & Hibbs Jr., Douglas A., 2008. "Labor market regimes and the effects of monetary policy," Journal of Macroeconomics, Elsevier, vol. 30(1), pages 134-156, March.
    3. Fritz Breuss, 2005. "Die Zukunft der Lissabon-Strategie," WIFO Working Papers 244, WIFO.
    4. repec:bla:jcmkts:v:47:y:2009:i::p:693-717 is not listed on IDEAS
    5. Eichengreen, Barry & Boltho, Andrea, 2008. "The Economic Impact of European Integration," CEPR Discussion Papers 6820, C.E.P.R. Discussion Papers.
    6. Steven Berry & Philip Haile, 2016. "Identification in Differentiated Products Markets," Annual Review of Economics, Annual Reviews, vol. 8(1), pages 27-52, October.
    7. Harald Badinger & Fritz Breuss, 2005. "Has Austria’s Accession to the EU Triggered an Increase in Competition? A Sectoral Markup Study," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 32(2), pages 145-180, June.
    8. Robert Pollin & James Heintz, 2013. "Study of U.S. Financial System," FESSUD studies fstudy10, Financialisation, Economy, Society & Sustainable Development (FESSUD) Project.
    9. Bloom, Nick & Dorgan, Stephen & Dowdy, John & Van Reenen, John & Rippin, Tom, 2005. "Management practices across firms and nations," LSE Research Online Documents on Economics 4669, London School of Economics and Political Science, LSE Library.

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