In this issue:

Antitrust in Times of Economic Crisis: A Global Perspective

George Addy, Anita Banicevic, Mark Katz, Dec 15, 2008

Antitrust Legislation and Policy in a Global Economic Crisis—A Canadian Perspective

To date, the approach of antitrust agencies has been anything but uniform. In Canada, the Competition Bureau has been silent on its views of the role of antitrust law and policy in the current crisis.

Daniel Crane, Dec 15, 2008

Antitrust Enforcement During National Crises: An Unhappy History

In this essay, I have the gloomy task of mapping the failure of competition policy during periods of crisis. For purposes of the historical narrative, I conflate war and financial crisis. The strong tendency toward abandonment of competition principles arises in both circumstances. I will argue, however, that not all crises are created equal when it comes to the suspension of antitrust.

Albert A. Foer, Dec 15, 2008

Preserving Competition After the Banking Meltdown

This essay offers some thoughts on the implications of the sea change in the U.S. financial industry in terms of domestic and international competition and the transformed role of domestic and international regulation.

Damien Gerard, Dec 15, 2008

Managing the Financial Crisis in Europe: Why Competition Law is Part of the Solution, Not of the Problem

This paper describes three factors that contributed to shaping the role played so far by the Commission in its capacity as the major antitrust enforcement authority in the management of the financial crisis in Europe and, hence, the contribution of EC competition law to a solution of the crisis, as advocated by Commissioner Kroes.

Joseph Hur, Paul Rhee, Dec 15, 2008

Prospects of Korean Antitrust Enforcement Policy During an Economic Crisis

In this brief article, we will discuss how the Korean competition authorities faced with an economic crisis might change their enforcement policies or whether they will resist any change.

Bruno Lasserre, Dec 15, 2008

How Can National Competition Authorities Mobilize in Times of Global Crisis?

I would like to look at how national competition authorities (“NCA”) can bring added value to the huge effort of solving the current crisis. I say “can” because a word of caution is warranted: visions never translate into results without hard work. And I shall try to answer the question from the following three angles: Where do we fit in the big puzzle? What can we do? What can we say?

David Lewis, Dec 15, 2008

Competition Law and Policy in Bad Times

We are currently experiencing such a change in the stage set, and I want to look at the immediate prospects for competition law and policy in this changed context.

Abel Mateus, Dec 15, 2008

The Current Financial Crisis and State Aid in the European Union: Has It Been Timely and Appropriate?

I argue that bank guarantees and recapitalization may not be enough to re-launch economic activity and some economies may require the “cleaning-up” of bad debts, which would require a revision of the guidelines.

John Vickers, Dec 15, 2008

The Financial Crisis and Competition Policy: Some Economics

This note reviews some of the basic economics of the crisis before concluding that October’s systemic bank rescue package is not unduly competition-threatening, whereas the waiver of merger policy for the Lloyds TSB acquisition of HBOS was probably a policy mistake.

Of Special Interest

Howard Chang, Xinzhu Zhang, Dec 11, 2008

The InBev and Anheuser-Busch Merger in China: A View from Economists

In this paper, we provide some background on the merger approval process in China and the InBev acquisition, and then discuss the implications of MOFCOM’s decision and its other statements on merger policy for the future of merger control in China.