A Step Ahead : Competition Policy for Shared Prosperity and Inclusive Growth.

Cover -- Half Title -- Title -- Copyright -- Contents -- Foreword -- Acknowledgments -- Abbreviations -- Part I: Competition Policy, Shared Prosperity, Poverty Alleviation, and Inclusive Growth: Empirical Evidence to Support Policy Action -- 1. Introduction -- 1.1 What Is Competition Policy? -- 1.2 How Does the Degree of Competition Affect Poverty, Shared Prosperity, and Inclusive Growth? -- 1.3 In Which Sectors Can Safeguarding Competition Maximize Benefits for the Poor? -- Notes -- Bibliography -- 2. Effects of Market Competition and Competition Policies -- 2.1 Direct Welfare Effects on the Level and Distribution of Household Welfare -- 2.2 Dynamic Effects: Competition as a Driver of Productivity, Innovation, and Economic Growth -- 2.3 Further Research for a Policy Agenda -- Notes -- Bibliography -- Part II: New Research on Competition Policies and Their Welfare-Enhancing Effects -- 3. Cartel Damages to the Economy: An Assessment for Developing Countries -- 3.1 Introduction -- 3.2 Collected Data: Cartels' Profiles in Developing Countries -- 3.3 Estimation of Price Overcharges -- 3.4 Aggregated Cartels' Effects -- 3.5 Estimation of the Deterrence Rate -- 3.6 Conclusions and Policy Implications -- Annex 3A: Major "Hard-Core" Cartels Prosecuted in Selected Developing Countries, 1995-2013 -- Annex 3B: Questionnaire Submitted to Local Competition Authorities -- Annex 3C: Example of the Calibration and Estimation Procedure: Civil Airlines in Brazil -- Notes -- Bibliography -- 4. Undermining Inclusive Growth? Effects of Coordination on Fertilizer Prices in Malawi, Tanzania, and Zambia -- 4.1 Introduction -- 4.2 Inclusion, Cartels, and Recent Experiences in Fertilizer Markets in the Region -- 4.3 Fertilizer Pricing in Malawi, Tanzania, and Zambia -- 4.4 Changing Dynamics in Fertilizer Markets in Tanzania and Zambia.

4.5 Conclusions and Policy Implications -- Notes -- Bibliography -- 5. Market Power and Wealth Distribution -- 5.1 Introduction -- 5.2 Model -- 5.3 Data -- 5.4 Calibration of Impacts -- 5.5 Conclusions and Policy Implications -- Notes -- Bibliography -- 6. Distributional Macroeconomic Effects of the European Union Competition Policy: A General Equilibrium Analysis -- 6.1 Introduction -- 6.2 Integrated Framework -- 6.3 Measuring the Microeconomic Effects of Important Merger and Cartel Decisions -- 6.4 QUEST Model -- 6.5 Model Simulations -- 6.6 Conclusions and Policy Implications -- Notes -- Bibliography -- 7. Effect of Competition Law on Innovation: A Cross-National Statistical Analysis -- 7.1 Introduction -- 7.2 Theory -- 7.3 Review of the Empirical Literature -- 7.4 Empirical Analysis -- 7.5 Conclusions and Policy Implications -- Notes -- Bibliography -- Glossary -- Boxes -- 1.1 Who Are the Bottom 40 Percent? -- 2.1 Mexico: Poor and Rural Households Are Disproportionately Affected by Monopolies -- 2.2 Calculating Overcharges from Anticompetitive Behavior -- 2.3 Competition in Public Procurement Allows Governments to Deliver Key Goods and Services for Poverty Alleviation -- 2.4 Pro-Competition Effects of Trade Reform and Its Interaction with Competition Policy -- 2.5 Role of Ex Ante Sector Regulation in Safeguarding Competition -- 6.1 Empirical Work Analyzing the Macroeconomic Impact of Competition Policy -- 6.2 Guiding Principles and Methodology Suggested by the OECD to Calculate Customer Savings -- Figures -- 1.1 Key Drivers of Poverty Reduction, and How They Relate to Competition -- 1.2 Mechanisms through Which Competition Affects Poverty Reduction and Shared Prosperity -- 1.3 Average Proportion of Different Products in Consumption Baskets across 13 Countries.

1.4 Proportion of Consumption Consisting of Food and Nonalcoholic Beverages, by Income Decile -- 1.5 Proportion of Consumption Consisting of Transportation, by Income Decile -- 1.6 Factors That Facilitate Cartels, and How They Relate to This Review's Focal Sectors -- 1.7 Product and Service Groups in Which Latin American Competition Authorities Sanctioned Cartels, 1995-2015 -- 2.1 Distribution of Cartel Episodes and Overcharges Determined by Competition Authorities, by Region -- 2.2 Product Market Regulation and Productivity Acceleration in India, by State -- 3.1 Comparison of Penalty-Excess Profits Ratios -- 4.1 Urea Monthly (National Average Delivered) Prices, 2010-14 -- 4.2 CAN Monthly (National Average Delivered) Prices, 2010-14 -- 5.1 Australia: Illustration of Impact of Monopoly, by Wealth Decile -- 5.2 Canada: Illustration of Impact of Monopoly, by Wealth Decile -- 5.3 France: Illustration of Impact of Monopoly, by Wealth Decile -- 5.4 Germany: Illustration of Impact of Monopoly, by Wealth Decile -- 5.5 Japan: Illustration of Impact of Monopoly, by Wealth Decile -- 5.6 Republic of Korea: Illustration of Impact of Monopoly, by Wealth Decile -- 5.7 United Kingdom: Illustration of Impact of Monopoly, by Wealth Decile -- 5.8 United States: Illustration of Impact of Monopoly, by Wealth Decile -- 6.1 An Integrated Framework to Assess the Impact of Competition Policy -- 7.1 Coefficient Plot: Estimated Effect of Competition Law Duration on Logged U.S. Patent Production, 1965-2014 -- 7.2 Estimated Substantive Effect for Years with Statistically Significant Effect -- 7.3 Coefficient Plot: Estimated Effect of Competition Law Duration on Logged WIPO Patent Production, 1965-2014 -- Maps -- B1.1.1 Income of the Richest Person in the Bottom 40 Percent across Countries -- B2.1.1 Relative Welfare Losses Resulting from Uncompetitive Market Structures, by State.

Tables -- 1.1 A Comprehensive Competition Policy Framework -- 2.1 Summary of Recent Economic Survey Findings of Cartel Overcharges -- 3.1 Descriptive Statistics of the Collected Sample of Cartels -- 3.2 Comparison of Cartel Price Overcharges from Existing Studies -- 3.3 Estimates of Price Overcharges and Output Losses Obtained with the Use of the Developed Methodology -- 3.4 Availability of Quantified Impacts of Detected Cartels -- 3.5 Estimates of Aggregated Economic Harm Caused by Cartelization -- 3A.1 Major "Hard-Core" Cartels Prosecuted in Selected Developing Countries, 1995-2013 -- 3C.1 Available Input Data, July 1999 -- 3C.2 Calibrated Price Sensitivity Parameter (α) -- 3C.3 Calibrated Parameters of Differentiation (δj) -- 3C.4 Estimated Price Overcharge -- 3C.5 Estimated Consumer Welfare Losses -- 4.1 Average Annual Fertilizer (Urea) Prices and International FOB Prices, 2010-13 -- 4.2 Port and Landlocked Country Price Benchmarks, 2013 -- 4.3 Markups over Benchmark Competitive Prices, by Country, 2013 -- 4.4 Urea Price Composition in Mbeya, Tanzania -- 5.1 Definition and Sources of Variables -- 5.2 Selected Variables and Sources, by Country -- 5.3 Australia: Existing Distributions of Business Ownership, Consumer Expenditures, and Net Worth, by Wealth Decile -- 5.4 Canada: Existing Distributions of Business Ownership, Consumer Expenditures, and Net Worth, by Wealth Decile -- 5.5 France: Existing Distributions of Business Ownership, Consumer Expenditures, and Net Worth, by Wealth Decile -- 5.6 Germany: Existing Distributions of Business Ownership, Consumer Expenditures, and Net Worth, by Wealth Decile -- 5.7 Japan: Existing Distributions of Business Ownership, Consumer Expenditures, and Net Worth, by Wealth Decile -- 5.8 Republic of Korea: Distributions of Business Ownership, Consumer Expenditures, and Net Worth, by Wealth Decile.

5.9 United Kingdom: Existing Distributions of Business Ownership, Consumer Expenditures, and Net Worth, by Wealth Decile -- 5.10 United States: Existing Distributions of Business Ownership, Consumer Expenditures, and Net Worth, by Wealth Decile -- 5.11 Australia: Impacts of Market Power with Varying Monopoly Life Span, by Wealth Decile -- 5.12 Canada: Impacts of Market Power with Varying Monopoly Life Span, by Wealth Decile -- 5.13 France: Impacts of Market Power with Varying Monopoly Life Span, by Wealth Decile -- 5.14 Germany: Impacts of Market Power with Varying Monopoly Life Span, by Wealth Decile -- 5.15 Japan: Impacts of Market Power with Varying Monopoly Life Span, by Wealth Decile -- 5.16 Republic of Korea: Impacts of Market Power with Varying Monopoly Life Span, by Wealth Decile -- 5.17 United Kingdom: Impacts of Market Power with Varying Monopoly Life Span, by Wealth Decile -- 5.18 United States: Impacts of Market Power with Varying Monopoly Life Span, by Wealth Decile -- 5.19 Comparative Impacts of Market Power in the Eight Countries of Analysis -- 6.1 Overview of Assumptions Used by the European Commission -- 6.2 Estimates of Annual Customer Savings -- B6.2.1 Assumptions Proposed by the OECD -- 6.3 Summary of Results of Surveys on Deterrent Effects -- 6.4 Magnitude of Markup Shock -- 6.5 Macroeconomic Effects of Markup Shock -- 6.6 Distributional Effects of Markup Shock -- 7.1 Summary Statistics for Full Dataset, with Imputed Values -- 7.2 Summary Statistics for Nonimputed Data -- 7.3 Cross-Sectional Relationship between Competition Law Duration and Logged U.S. Patent Production, 2014 -- 7.4 Cross-Sectional Relationship between Competition Law Duration and Logged WIPO Patent Production, 2014 -- 7.5 Cross-Sectional Relationship between Competition Law Duration and Logged Patent Production, 2014.

7.6 Panel Estimates of the Relationship between Competition Law Duration and Logged Patent Production with Year and Country Random Effects.

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