The nature of competitive rivalry, and the power and interests of
large firms and their owners, is at the heart of how countries
develop.
Large firms shape the economy as these firms can make the
investments required in productive capacity, provide the upstream
inputs and services required by smaller businesses and, in many
areas, are also the main routes to market. At the same time these
firms tend to have market power if competition between them is
weak. In crude terms, it is critical whether these firms are able
to focus on extracting rents through market power, or whether the
returns reward their effort, creativity and entrepreneurship.
Competition authorities and economic regulators are critical
institutions in restraining the market power of firms while at the
same tie taking into account the need to incentivise investment.
The book maps out key issues in competition through four key
industry studies across Southern and East Africa. It considers the
nature and extent of market power, the development of large firms,
their production, investment and the prices of products across
countries. This takes into account the work of competition
authorities in the different countries and the implications of
industrial policies. The concluding chapter draws out critical
implications for competition, regional integration and economic
development. This fills a big gap as there are no similar
publications relating to this important topic.
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