Arbeitspapier
Export orientation and domestic merger policy: theory and some empirical evidence
The recent ‘open-economy industrial organization’ literature generally finds export-orientation to enhance the weight of post-merger international competitive gains; thereby, favoring lenient domestic merger policy. We observe, however, that mergers seldom generate the ‘significant synergies’ that are supportive of international competitive gains. Further, we explore a joint-economies of production effect which suggests that domestic mergers tend to generate international competitive losses (not gains). Accordingly, we contend that export-orientation favors strict (not lenient) domestic merger policy. In order to support this contention, we develop a model illustrative of how non-synergistic domestic mergers in the presence of international sales might reduce national welfare and incur stringent merger-reviews. Further, using a panel data set composed of U.S. merger policy by manufacturing sector over the 1990-2001 period, we empirically support export-orientation leading to strict merger policy.
- Sprache
-
Englisch
- Erschienen in
-
Series: WZB Discussion Paper ; No. SP II 2004-10
- Klassifikation
-
Wirtschaft
Antitrust Issues and Policies: General
Trade: General
- Thema
-
open-economy
merger-policy
export-orientation
antitrust
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Clougherty, Joseph A.
Zhang, Anming
- Ereignis
-
Veröffentlichung
- (wer)
-
Wissenschaftszentrum Berlin für Sozialforschung (WZB)
- (wo)
-
Berlin
- (wann)
-
2004
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Clougherty, Joseph A.
- Zhang, Anming
- Wissenschaftszentrum Berlin für Sozialforschung (WZB)
Entstanden
- 2004
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