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Economic Development Competition

   

Added on  2020-03-16

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Competition Policy 1COMPETITION POLICYBy (Student’s Name)Professor’s NameCollegeCourseDate
Economic Development Competition_1
Competition Policy 2Competition Policy Role in Country’s Economic DevelopmentCompetition describes the rivalry among the companies in marketplace and stretches tothe envisaged and potential rivalry. On the other hand, competition policy describes thegovernment policy that preserve or promote the competition among the players in the market aswell as promote additional government policies as well as process which allow development ofcompetitive environment (Lipczynski, Wilson and Goddard 2005). Competition policy plays a key role in economic development of any economy. To beefficient and effective in supporting the process of development, competition policy and law(CLP) should be supported as well as compatible with additional complementary pro-development polices which is able to bear on the country’s economic development. Competitionpolicy has 2 key instruments. The 1st instrument is the competition law that encompass the rulesto restrict anti-competitive market and enforcement mechanism like an authority. The 2nd keyinstrument is the competition advocacy which is especially significant in interface withadditional economic policies. The developing economies are often beset by a range of obstacles to competition. Anurgent need is required for an effective competition policy and law. Owing to a range of marketfeatures and legal as well as challenges in enforcement, it remains harder to undertake theimplementation of competition law and policy in the developing economies than in developedeconomies. The uncompetitive markets remain a greater problem in the developing economies. The need for effective competition law enforcement remains great. Competition policyhas a direct effects of increasing efficiency. The indirect effects of competition policy isstrengthening the impact of policies promoting the economic development for example, theindirect effects will include strengthening impact of policies promoting economic development
Economic Development Competition_2

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