Merger control regimes in emerging economies: a case study on Brazil and Argentina
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| Main Author: | |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Alphen aan den Rijn, Netherlands
Kluwer Law International
c2011
Frederick, MD |
| Series: | International competition law series
46 |
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Item Description: | Includes bibliographical references (p. [351]-391) and index |
| Physical Description: | XXVII, 403 S. |
| ISBN: | 9789041134028 9041134026 |
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| 100 | 1 | |a Botta, Marco |e Verfasser |4 aut | |
| 245 | 1 | 0 | |a Merger control regimes in emerging economies |b a case study on Brazil and Argentina |c Marco Botta |
| 264 | 1 | |a Alphen aan den Rijn, Netherlands |b Kluwer Law International |c c2011 | |
| 264 | 1 | |a Frederick, MD | |
| 300 | |a XXVII, 403 S. | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b n |2 rdamedia | ||
| 338 | |b nc |2 rdacarrier | ||
| 490 | 1 | |a International competition law series |v 46 | |
| 500 | |a Includes bibliographical references (p. [351]-391) and index | ||
| 650 | 4 | |a Recht | |
| 650 | 4 | |a Consolidation and merger of corporations |x Law and legislation |z Brazil | |
| 650 | 4 | |a Consolidation and merger of corporations |x Law and legislation |z Argentina | |
| 651 | 4 | |a Argentinien | |
| 651 | 4 | |a Brasilien | |
| 830 | 0 | |a International competition law series |v 46 |w (DE-604)BV014209489 |9 46 | |
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| _version_ | 1804147948770033664 |
|---|---|
| adam_text | IMAGE 1
TABLE OF CONTENTS
ABOUT THE AUTHOR XIX
PREFACE XXI
ACKNOWLEDGEMENTS XXIII
LIST OF ABBREVIATIONS XXV
PARTI INTRODUCTION 1
CHAPTER 1 RESEARCH QUESTIONS AND AN INTRODUCTION TO BRAZIL AND ARGENTINA
3 1.1. CROSS-BORDER M&AS AND MERGER CONTROL JURISDICTIONS IN DEVELOPING
COUNTRIES 3
1.1.1. FDIS IN DEVELOPING COUNTRIES 3
1.1.2. IMPACT OF M&AS ON THE LEVEL OF COMPETITION IN THE MARKETS OF
DEVELOPING COUNTRIES 6
1.1.3. THE SPREAD OF MERGER CONTROL JURISDICTIONS IN THE WORLD 8 1.2.
STRUCTURE OF THE BOOK 12
1.2.1. THE MAIN HYPOTHESES DISCUSSED IN THE BOOK 12
1.2.2. INTRODUCTION TO THE CASE STUDIES 15
1.2.3. THE CHAPTERS OF THE BOOK 18
13. INTRODUCTION TO BRAZIL AND ARGENTINA 20
1.3.1. IMPORT-SUBSTITUTION MODEL VERSUS FREE MARKET ECONOMY IN BRAZIL
AND ARGENTINA 20
IMAGE 2
TABLE OF CONTENTS
1.3.2. FROM ANTI-MONOPOLY TO COMPETITION LAW IN ARGENTINA AND BRAZIL 29
1.3.2.1. BRAZIL: FROM SANCTIONING THE ABUSE OF ECONOMIC POWER TO THE
PROTECTION OF FREE COMPETITION 29 1.3.2.2. ARGENTINA: FROM A JUDICIAL TO
AN ADMINISTRATIVE SYSTEM OF ENFORCEMENT OF COMPETITION LAW 33
1.3.2.3. THE HISTORY OF BRAZILIAN AND ARGENTINIAN COMPETITION LAW
COMPARED 39
1.3.3. THE BRAZILIAN AND THE ARGENTINIAN ECONOMIES 40
1.3.3.1. THE THEORY OF SMALL CONCENTRATED ECONOMIES 40 1.3.3.2. BRAZIL:
THE GIANT OF LATIN AMERICA 44
1.3.3.3. ARGENTINA: A VAST UNDER-POPULATED COUNTRY 49 1.3.3.4. ARE
BRAZIL AND ARGENTINA TWO SMALL CONCENTRATED ECONOMIES? 53
PART II CASE STUDY 57
CHAPTER 2 INSTITUTIONAL ISSUES UNDERMINING THE ENFORCEMENT OF
COMPETITION LAW 59 2.1. ISSUES DISCUSSED IN THIS CHAPTER 59
2.2. THE FIRST INSTITUTIONAL PROBLEM: LACK OF RESOURCES 61
2.2.1. THE STUDIES CONDUCTED SO FAR 61
2.2.2. BRAZILIAN COMPETITION AUTHORITIES RESOURCES 63
2.2.2.1. CADE S RESOURCES DURING THE 1990S 63
2.2.2.2. THE INCREASE IN CADE S RESOURCES IN RECENT YEARS 65
2.2.2.3. SDE AND SEAE S RESOURCES 66
2.2.3. THE ARGENTINIAN COMPETITION AUTHORITY S RESOURCES 68 2.2.3.1. THE
LACK OF STAFF AT THE CNDC 68
2.2.3.2. THE LACK OF BUDGETARY AUTONOMY FOR THE CNDC 70 2.3.
INDEPENDENCE FROM THE GOVERNMENT 70
2.3.1. THE MEANING OF INDEPENDENCE 70
2.3.2. INDEPENDENCE OF THE BRAZILIAN COMPETITION AUTHORITIES 72 2.3.2.1.
CADE S INDEPENDENCE 72
2.3.2.2. THE DE FACTO INDEPENDENCE OF SDE AND SEAE 75 2.3.3. THE
UNSUCCESSFUL ESTABLISHMENT OF THE ARGENTINIAN COMPETITION TRIBUNAL 78
2.3.3.1. THE INSTITUTIONAL SYSTEM CONTAINED IN THE LAW 25.156/99 78
2.3.3.2. THE DECRETO 89/2001 80
2.3.3.3. THE ROLE OF THE SECRETARY FOR INTERNAL TRADE 81 2.3.3.4.
CONSEQUENCES OF THE LACK OF ESTABLISHMENT OF THE COMPETITION TRIBUNAL 83
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TABLE OF CONTENTS
2.4. THE LACK OF COMPETITION CULTURE AND THE NEED FOR COMPETITION
ADVOCACY 85
2.4.1. THE CONCEPTS OF COMPETITION CULTURE AND COMPETITION ADVOCACY 85
2.4.2. COMPETITION ADVOCACY ACTIVITIES PERFORMED BY CADE, SDE AND SEAE
90
2.4.2.1. COMPETITION ADVOCACY VIS-A-VIS THE STATE S AUTHORITIES 90
2.4.2.2. COMPETITION ADVOCACY VIS-A-VIS THE PUBLIC OPINION 96
2.4.3. THE LACK OF COMPETITION CULTURE IN ARGENTINA 99
2.4.3.1. COMPETITION ADVOCACY UNDER THE LAW 25.156/99 99 2.4.3.2. THE
LACK OF COMPETITION ADVOCACY ACTIVITIES BY THE CNDC 100
2.4.3.3. ALTERNATIVE FORA FOR DISCUSSION OF COMPETITION LAW IN ARGENTINA
102
2.5. COMPETITION LAW AND THE JUDICIARY 102
2.5.1. JUDGES AND COMPETITION LAW IN DEVELOPING COUNTRIES 102 2.5.2. THE
JUDICIARY AND THE ENFORCEMENT OF THE BRAZILIAN COMPETITION LAW 103
2.5.2.1. OVERVIEW OF THE BRAZILIAN JUDICIAL SYSTEM 103 2.5.2.2. THE
STANDARD OF JUDICIAL REVIEW IN COMPETITION LAW 106
2.5.2.3. THE MAIN PROBLEMS RELATING TO JUDICIAL REVIEW OF CADE S
DECISIONS 109
2.5.2.4. INITIATIVES UNDERTAKEN TO SOLVE THE PROBLEMS RELATING TO THE
JUDICIAL REVIEW OF CADE S DECISIONS 111
2.5.3. THE JUDICIARY AND ARGENTINIAN COMPETITION LAW 114 2.5.3.1.
JUDICIAL REVIEW UNDER THE LAW 22.262/80 AND 25.156/99 114
2.5.3.2. THE DECRETO 1019/99 115
2.5.3.3. THE LACK OF LEGITIMACY OF THE CNDC AND THE SECRETARY FOR
INTERNAL TRADE S DECISIONS 117 2.5.3.4. THE CONFLICT OF JURISDICTION
BETWEEN THE CDMARA EN LO CIVIL Y COMERCIAL AND THE CDMARA EN LO
PENAL ECONOMICO 119
2.5.3.5. THE CONFLICT OF JURISDICTION BETWEEN THE CDMARAS DE APELACIONES
AND THE OTHER FEDERAL COURTS 121 2.5.3.6. THE STANDARD OF JUDICIAL
REVIEW IN COMPETITION LAW 121
2.6. NEW INSTITUTIONAL ARRANGEMENTS IN BRAZIL AND ARGENTINA 125 2.6.1.
THE UNIFICATION OF THE BRAZILIAN COMPETITION AUTHORITIES 125 2.6.1.1.
THE PROJECT OF REFORM OF THE LAW 8884/94 125
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TABLE OF CONTENTS
2.6.1.2. THE APPROVAL OF THE DRAFT BILL BY THE CHAMBER OF
REPRESENTATIVES, AND ITS PENDING APPROVAL BY THE BRAZILIAN SENATE 126
2.6.2. THE FAILED INSTITUTIONAL REFORM OF ARGENTINIAN COMPETITION LAW
129
CHAPTER 3 MERGER CONTROL REGIMES IN EMERGING ECONOMIES 133
3.1. ISSUES DISCUSSED IN THE CHAPTER 133
3.2. THE LEGISLATIVE FRAMEWORK 135
3.2.1. THE IMPRECISE LANGUAGE OF ARTICLE 54 OF THE BRAZILIAN LAW 8884/94
135
3.2.1.1. THE AGREEMENTS WHICH ARE TO BE NOTIFIED 135 3.2.1.2. THE
AMBIGUOUS THRESHOLDS FOR MERGER NOTIFICATION 137
3.2.1.3. THE MOMENT OF NOTIFICATION OF THE TRANSACTION 138 3.2.1.4. THE
STANDARD OF MERGER REVIEW 139
3.2.1.5. THE REMEDIES PROVIDED BY ARTICLE 58 OF THE LAW 8884/94 140
3.2.2. UNCLEAR POINTS IN THE ARGENTINIAN LAW 25.156/99 141 3.2.2.1. THE
CONCEPT OF ECONOMIC CONCENTRATION UNDER ARTICLE 6 OF THE LAW 25.156/99
141
3.2.2.2. THE THRESHOLDS FOR MERGER NOTIFICATION 142 3.2.2.3. THE UNCLEAR
MOMENT OF MERGER NOTIFICATION IN THE LAW 25.156/99 144
3.2.2.4. THE TIME FOR MERGER REVIEW PROVIDED BY THE LAW 25.156/99 145
3.2.2.5. THE STANDARD OF MERGER REVIEW PROVIDED BY THE LAW 25.156/99 146
3.3. CRITERIA FOR NOTIFICATION AND NUMBER OF NOTIFIED CONCENTRATIONS 147
3.3.1. CHANGE OF CONTROL AND THRESHOLDS FOR MERGER NOTIFICATION 147
3.3.2. CADE S INTERPRETATION OF THE THRESHOLDS FOR MERGER NOTIFICATION
AND THE CATEGORIES OF AGREEMENTS TO BE NOTIFIED 149
3.3.2.1. CADE S INTERPRETATION OF THE CONCEPT OF ECONOMIC CONCENTRATION
149
3.3.2.2. CADE S INTERPRETATION OF THE THRESHOLDS FOR MERGER NOTIFICATION
152
3.3.3. THE MODIFICATIONS OF THE ARGENTINIAN THRESHOLDS FOR NOTIFICATION
156
3.3.3.1. CNDC S OPINIONES CONSULTIVAS 156
3.3.3.2. THE THRESHOLDS FOR NOTIFICATION AS MODIFIED BY THE DECRETO
396/2001 157
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TABLE OF CONTENTS
3.4. TIME OF NOTIFICATION AND TIME FOR MERGER REVIEW 162
3.4.1. MERGER NOTIFICATION AND MERGER REVIEW IN THE EU AND IN THE US 162
3.4.2. TIME OF MERGER NOTIFICATION AND THE TIME FOR MERGER REVIEW IN
BRAZIL 164
3.4.2.1. THE FINES IMPOSED BY CADE AGAINST THE LATE NOTIFICATION OF
MERGERS 164
3.4.2.2. FACTORS WHICH SLOWED DOWN THE TIME FOR MERGER REVIEW IN BRAZIL
IN THE 1990S 166
3.4.2.3. REDUCING THE TIME FOR MERGER REVIEW IN BRAZIL 167 3.4.3. THE
UNCLEAR MOMENT OF NOTIFICATION AND TIME FOR MERGER REVIEW IN ARGENTINA
172
3.4.3.1. THE TIME OF NOTIFICATION UNDER THE DECRETO 89/2001 172
3.4.3.2. THE DECREES EXTENDING THE TIME FOR MERGER REVIEW IN ARGENTINA
173
3.5. ECONOMETRIC TOOLS TO DEFINE RELEVANT MARKET AND DEGREE OF MARKET
CONCENTRATION 177
3.5.1. THE CONCEPTS OF RELEVANT MARKET AND MARKET CONCENTRATION IN EU
AND USA 177
3.5.2. THE APPLICATION OF ECONOMETRIC TESTS IN BRAZIL 181 3.5.2.1. THE
APPLICATION OF THE SSNIP TEST IN BRAZIL 181 3.5.2.2. THE DEFINITION OF
THE GEOGRAPHIC MARKET IN BRAZIL 183
3.5.2.3. EVALUATION OF THE DEGREE OF MARKET CONCENTRATION IN BRAZIL 185
3.5.3. THE APPLICATION OF THE ECONOMETRIC TESTS IN ARGENTINA 188
3.5.3.1. THE APPLICATION OF THE SSNIP TEST IN ARGENTINA 188 3.5.3.2. THE
DEFINITION OF THE GEOGRAPHIC MARKET IN ARGENTINA 193
3.5.3.3. THE APPLICATION OF THE HHI TEST IN ARGENTINA 195 3.6. STANDARD
OF MERGER ANALYSIS FOR HORIZONTAL AND NON-HORIZONTAL MERGERS 198
3.6.1. HORIZONTAL AND NON-HORIZONTAL MERGERS 198
3.6.2. THE REVIEW OF HORIZONTAL AND NON-HORIZONTAL MERGERS IN BRAZIL 201
3.6.2.1. THE STEPS OF THE MERGER ANALYSIS UNDER THE SDE/SEAE MERGER
GUIDELINES OF 2001 201 3.6.2.2. THE ANALYSIS OF HORIZONTAL MERGERS IN
BRAZIL 203 3.6.2.3. THE ANALYSIS OF VERTICAL MERGERS IN BRAZIL 204
3.6.3. THE REVIEW OF HORIZONTAL AND NON-HORIZONTAL MERGERS
IN ARGENTINA 207
3.6.3.1. THE STANDARD OF REVIEW IN THE 2001 MERGER GUIDELINES 207
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TABLE OF CONTENTS
3.6.3.2. THE ANALYSIS OF HORIZONTAL MERGERS IN ARGENTINA 209 3.6.3.3.
NON-HORIZONTAL MERGERS IN THE 2001 MERGER GUIDELINES 211
3.6.3.4. THE ANALYSIS OF NON-HORIZONTAL MERGERS IN ARGENTINA 212
3.7. EFFICIENCY DEFENCES 214
3.7.1. INTRODUCTION TO THE EFFICIENCY DEFENCES IN MERGER CONTROL 214
3.7.2. EFFICIENCY DEFENCES IN BRAZIL 215
3.7.2.1. EFFICIENCY DEFENCES UNDER THE SDE/SEAE MERGER GUIDELINES 215
3.7.2.2. THE EVOLUTION OF CADE S CASE LAW ON EFFICIENCY DEFENCES 216
3.7.3. EFFICIENCY DEFENCES IN ARGENTINA 220
3.7.3.1. EFFICIENCY DEFENCES IN THE 2001 MERGER GUIDELINES 220
3.7.3.2. THE CNDC S TRADITIONAL SCEPTICAL APPROACH VIS-A-VIS EFFICIENCY
DEFENCES 221
3.7.3.3. EFFICIENCY DEFENCES AS A TOOL TO ACHIEVE INDUSTRIAL POLICY
OBJECTIVES 222
3.8. REMEDIES IN MERGER CONTROL 224
3.8.1. STRUCTURAL AND BEHAVIOURAL REMEDIES IN MERGER CONTROL 224 3.8.2.
REMEDIES IN THE BRAZILIAN SYSTEM OF MERGER CONTROL 225 3.8.2.1. THE
PREFERENCE FOR BEHAVIOURAL REMEDIES IN BRAZIL 225
3.8.2.2. THE RELUCTANCE OF MERGING PARTIES TO ACCEPT STRUCTURAL REMEDIES
IN BRAZIL 228
3.8.2.3. CADE S RELUCTANCE TO NEGOTIATE REMEDIES WITH MERGING PARTIES
228
3.8.2.4. CADE S ATTEMPTS TO STOP THE PRACTICE OF GUN-JUMPING IN BRAZIL
230
3.8.2.5. NON-ECONOMIC OBJECTIVES IN THE DESIGN OF REMEDIES IN BRAZIL 232
3.8.3. REMEDIES IMPOSED BY THE ARGENTINIAN COMPETITION AUTHORITY 233
3.8.3.1. FULL DIVESTITURE AS THE DE FACTO PROHIBITION OF A CONCENTRATION
IN ARGENTINA 233
3.8.3.2. THE UNILATERAL IMPOSITION OF REMEDIES BY THE ARGENTINIAN NCA
237
3.8.3.3. NON-ECONOMIC CONCERNS IN THE DESIGN OF REMEDIES IN ARGENTINA
241
3.9. REFORMS OF THE SYSTEM OF MERGER CONTROL 244
3.9.1. THE SYSTEM OF MERGER CONTROL IN THE NEW BRAZILIAN COMPETITION ACT
244
3.9.1.1. THE MAIN REFORMS TO THE BRAZILIAN SYSTEM OF MERGER CONTROL 244
XIV
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TABLE OF CONTENTS
3.9.1.2. THE APPROACH OF THE BRAZILIAN BUSINESS COMMUNITY VIS-A-VIS THE
NEW SYSTEM OF MERGER CONTROL 248
3.9.2. INDUSTRIAL POLICY CONSIDERATIONS WITHIN THE ARGENTINIAN SYSTEM OF
MERGER CONTROL 251
3.9.2.1. THE PROJECT OF REFORM PRESENTED BY MINISTER LAVAGNA 25 1
CHAPTER 4 CROSS-BORDER M&AS AND THE SYSTEMS OF MERGER CONTROL OF THE
EMERGING ECONOMIES 255
4.1. ISSUES DISCUSSED IN THIS CHAPTER 255
4.2. BRAZIL AND ARGENTINA: TWO INTEGRATED ECONOMIES 256
4.2.1. TRADE RELATIONS BETWEEN BRAZIL AND ARGENTINA FROM THE PERIOD OF
THE IMPORT-SUBSTITUTION MODEL TO THE ESTABLISHMENT OF MERCOSUR 256
4.2.2. THE CURRENT STRONG ECONOMIC LINKS BETWEEN BRAZIL AND ARGENTINA
259
4.3. THE EXTRA-TERRITORIAL APPLICATION OF COMPETITION LAW 261 4.3.1. THE
ORIGINS OF THE EFFECTS/IMPLEMENTATION DOCTRINE IN THE US AND THE EU 261
4.3.1.1. THE US EFFECTS DOCTRINE 261
4.3.1.2. THE EU IMPLEMENTATION DOCTRINE 263
4.3.1.3. THE EFFECTS AND IMPLEMENTATION DOCTRINES IN MERGER CONTROL 263
4.3.2. THE EFFECTS AND IMPLEMENTATION DOCTRINES IN EMERGING ECONOMIES
265
4.3.2.1. THE SPREAD OF THE EFFECTS AND IMPLEMENTATION DOCTRINES
THROUGHOUT THE WORLD 265
4.3.2.2. THE EFFECTS AND IMPLEMENTATION DOCTRINES UNDER THE BRAZILIAN
AND ARGENTINIAN COMPETITION ACTS 266
4.4. MULTI-JURISDICTIONAL CONCENTRATIONS AFFECTING BRAZIL AND ARGENTINA
267
4.4.1. GUN-JUMPING IN MULTI-JURISDICTIONAL CONCENTRATIONS 267 4.4.1.1.
DELAYS IN THE NOTIFICATION OF MULTI-JURISDICTIONAL MERGERS TO THE
BRAZILIAN AND ARGENTINIAN NCAS 267 4.4.1.2. THE IMPLEMENTATION OF A
MULTI-JURISDICTIONAL
CONCENTRATION BEFORE THE COMPLETION OF THE MERGER REVIEW IN ARGENTINA
AND BRAZIL 269 4.4.2. THE LACK OF EXCHANGE OF INFORMATION BETWEEN THE
NCAS OF DEVELOPED AND DEVELOPING COUNTRIES 273
4.4.2.1. THE LACK OF EXCHANGE OF INFORMATION BETWEEN THE EUROPEAN
COMMISSION AND CNDC IN THE TELECOM ITALIA-TELEFONICA CASE 273
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TABLE OF CONTENTS
4.4.2.2. THE REFERENCE MADE BY THE BRAZILIAN NCA TO THE FTC S PRIOR
DECISION IN THE OWENS CORNING-SAINT GOBAIN CASE 2 77
4.4.3. THE LACK OF COORDINATION IN THE IMPOSITION OF REMEDIES 278
4.4.3.1. CHALLENGES FACED BY THE BRAZILIAN AND ARGENTINIAN NCAS IN
IMPOSING STRUCTURAL REMEDIES IN MULTI-JURISDICTIONAL CONCENTRATIONS 278
4.4.3.2. CHALLENGES FACED BY THE BRAZILIAN AND ARGENTINIAN NCAS IN THE
IMPOSITION OF BEHAVIOURAL REMEDIES IN MULTI-JURISDICTIONAL MERGERS 282
4.4.3.3. CHALLENGES FACED BY THE BRAZILIAN AND ARGENTINIAN NCAS WHEN
THEY DECIDE TO BLOCK A MULTI-JURISDICTIONAL MERGER 286
4.5. MERGER CONTROL AND FDIS IN BRAZIL AND ARGENTINA 289
4.5.1. FDIS WITH A MULTI-JURISDICTIONAL DIMENSION 289
4.5.2. FDIS AND POLITICAL PRESSURES 293
4.6. ATTEMPTS AND FAILURES IN THE COOPERATION BETWEEN ARGENTINA AND
BRAZIL 297
4.6.1. THE INSTITUTIONAL FRAMEWORK OF COOPERATION 297
4.6.1.1. ATTEMPTS TO INTRODUCE RULES IN THE AREA OF COMPETITION LAW AT
THE MERCOSUR LEVEL; THE FORTALEZA PROTOCOL 297
4.6.1.2. THE 2003 BILATERAL COOPERATION AGREEMENT BETWEEN BRAZIL AND
ARGENTINA 301
4.6.1.3. THE MERCOSUR DECISIONS 04/04 AND 15/06 302 4.6.2. EXAMPLES OF
COOPERATION BETWEEN THE ARGENTINIAN AND THE BRAZILIAN COMPETITION
AUTHORITIES 303
4.6.2.1. FEW EXAMPLES OF MUTUAL NOTIFICATION OF MULTI-JURISDICTIONAL
CONCENTRATIONS BETWEEN THE BRAZILIAN AND ARGENTINIAN NCAS 303
4.6.2.2. THE LACK OF COOPERATION BETWEEN THE ARGENTINIAN AND BRAZILIAN
NCAS DURING THE MERGER REVIEW OF THE TELECOM ITALIA-TELEFONICA CASE 305
4.6.2.3. COOPERATION AT THE POLITICAL LEVEL BETWEEN BRAZIL AND ARGENTINA
IN THE FIELD OF COMPETITION LAW 308
4.6.3. REASONS BEHIND THE FAILURES: THE NEED FOR A DE MINIMIS AGENDA 309
4.6.3.1. REASONS EXPRESSED IN THE ACADEMIC LITERATURE CONCERNING THE
FAILURE TO INTRODUCE COMPETITION LAW RULES WITHIN MERCOSUR 309 4.6.3.2.
VIEWS EXPRESSED BY THE NCAS OFFICIALS IN
BRASILIA AND BUENOS AIRES 311
XVT
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TABLE OF CONTENTS
PART IN CONCLUSIONS 315
CHAPTER 5 LESSONS FROM THE CASE STUDIES 317
5.1. THEORETICAL MODELS OF COMPETITION LAW IN DEVELOPING COUNTRIES 317
5.1.1. EMERGING ECONOMIES DO NOT NEED A COMPETITION LAW SYSTEM; NIE,
CHICAGO SCHOOL, HAYEK AND TRADE ECONOMISTS 317
5.1.2. A LENIENT ENFORCEMENT OF A SYSTEM OF MERGER CONTROL; SINGH,
SCHUMPETER AND GAL 322
5.1.3. AN ENFORCEMENT OF COMPETITION LAW FOR EMERGING ECONOMIES NOT
RADICALLY DIFFERENT FROM THAT ONE IN DEVELOPED COUNTRIES; FOX 325
5.2. ANALYSIS OF THE EMPIRICAL DATA ON BRAZIL AND ARGENTINA 327 5.2.1.
DE JURE VERSUS DE FACTO ENFORCEMENT OF COMPETITION LAW IN EMERGING
ECONOMIES 327
5.2.1.1. THE TIME GAP BETWEEN DE JURE AND DE FACTO ENFORCEMENT OF THE
COMPETITION LAW 327
5.2.1.2. THE APPROPRIATE LINK BETWEEN THE NCA AND THE EXECUTIVE 328
5.2.1.3. THE JUDICIARY AND THE ENFORCEMENT OF COMPETITION LAW IN AN
EMERGING ECONOMY 331
5.2.2. RULES VERSUS STANDARDS IN THE MERGER CONTROL REGIMES OF EMERGING
ECONOMIES 334
5.2.2.1. ALTERNATIVE VERSUS PREDETERMINED MODELS OF COMPETITION LAW FOR
THE EMERGING ECONOMIES 334 5.2.2.2. THE NEED FOR FLEXIBLE THRESHOLDS FOR
MERGER NOTIFICATION 335
5.2.2.3. STANDARDS VERSUS RULES IN THE APPLICATION OF THE ECONOMETRIC
TESTS TO DEFINE THE SIZE OF THE RELEVANT MARKET AND THE DEGREE OF MARKET
CONCENTRATION 336
5.2.2.4. THE ROLE OF NON-ECONOMIC CONSIDERATIONS IN THE SYSTEMS OF
MERGER CONTROL OF THE EMERGING ECONOMIES 338
5.2.2.5. REMEDIES AND THE PRACTICE OF GUN-JUMPING IN EMERGING ECONOMIES
339
5.2.2.6. FLEXIBILITY VERSUS LEGAL CERTAINTY IN THE ENFORCEMENT OF A
SYSTEM OF MERGER CONTROL 340 5.2.3. COOPERATION VERSUS EXTRA-TERRITORIAL
ENFORCEMENT OF THE COMPETITION LAW 341
5.2.3.1. GUN-JUMPING AND MULTI-JURISDICTIONAL CONCENTRATIONS 341
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TABLE OF CONTENTS
5.2.3.2. REMEDIES IN MULTI-JURISDICTIONAL MERGERS 343 5.2.3.3. LACK OF
COOPERATION BETWEEN THE NCAS OF DEVELOPED AND DEVELOPING COUNTRIES 344
5.2.3.4. FOSTERING THE COOPERATION AMONG THE NCAS OF EMERGING ECONOMIES
345
5.3. LESSONS VERSUS GRAND THEORIES 346
BIBLIOGRAPHY 351
INDEX 393
XVM
|
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| geographic | Argentinien Brasilien |
| geographic_facet | Argentinien Brasilien |
| id | DE-604.BV039118948 |
| illustrated | Not Illustrated |
| indexdate | 2024-07-09T23:59:21Z |
| institution | BVB |
| isbn | 9789041134028 9041134026 |
| language | English |
| lccn | 2011288174 |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-024137561 |
| open_access_boolean | |
| owner | DE-M382 |
| owner_facet | DE-M382 |
| physical | XXVII, 403 S. |
| publishDate | 2011 |
| publishDateSearch | 2011 |
| publishDateSort | 2011 |
| publisher | Kluwer Law International |
| record_format | marc |
| series | International competition law series |
| series2 | International competition law series |
| spelling | Botta, Marco Verfasser aut Merger control regimes in emerging economies a case study on Brazil and Argentina Marco Botta Alphen aan den Rijn, Netherlands Kluwer Law International c2011 Frederick, MD XXVII, 403 S. txt rdacontent n rdamedia nc rdacarrier International competition law series 46 Includes bibliographical references (p. [351]-391) and index Recht Consolidation and merger of corporations Law and legislation Brazil Consolidation and merger of corporations Law and legislation Argentina Argentinien Brasilien International competition law series 46 (DE-604)BV014209489 46 SWB Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=024137561&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Botta, Marco Merger control regimes in emerging economies a case study on Brazil and Argentina International competition law series Recht Consolidation and merger of corporations Law and legislation Brazil Consolidation and merger of corporations Law and legislation Argentina |
| title | Merger control regimes in emerging economies a case study on Brazil and Argentina |
| title_auth | Merger control regimes in emerging economies a case study on Brazil and Argentina |
| title_exact_search | Merger control regimes in emerging economies a case study on Brazil and Argentina |
| title_full | Merger control regimes in emerging economies a case study on Brazil and Argentina Marco Botta |
| title_fullStr | Merger control regimes in emerging economies a case study on Brazil and Argentina Marco Botta |
| title_full_unstemmed | Merger control regimes in emerging economies a case study on Brazil and Argentina Marco Botta |
| title_short | Merger control regimes in emerging economies |
| title_sort | merger control regimes in emerging economies a case study on brazil and argentina |
| title_sub | a case study on Brazil and Argentina |
| topic | Recht Consolidation and merger of corporations Law and legislation Brazil Consolidation and merger of corporations Law and legislation Argentina |
| topic_facet | Recht Consolidation and merger of corporations Law and legislation Brazil Consolidation and merger of corporations Law and legislation Argentina Argentinien Brasilien |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=024137561&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
| volume_link | (DE-604)BV014209489 |
| work_keys_str_mv | AT bottamarco mergercontrolregimesinemergingeconomiesacasestudyonbrazilandargentina |