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.
- Language
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Englisch
- Bibliographic citation
-
Series: WZB Discussion Paper ; No. SP II 2004-10
- Classification
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Wirtschaft
Antitrust Issues and Policies: General
Trade: General
- Subject
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open-economy
merger-policy
export-orientation
antitrust
- Event
-
Geistige Schöpfung
- (who)
-
Clougherty, Joseph A.
Zhang, Anming
- Event
-
Veröffentlichung
- (who)
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Wissenschaftszentrum Berlin für Sozialforschung (WZB)
- (where)
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Berlin
- (when)
-
2004
- Handle
- Last update
-
10.03.2025, 11:43 AM CET
Data provider
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Clougherty, Joseph A.
- Zhang, Anming
- Wissenschaftszentrum Berlin für Sozialforschung (WZB)
Time of origin
- 2004
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