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– Securing sound and effective economic competition is particularly important in an economic crisis. The previous crises have taught that vigorous competition enforcement and deregulation contribute to fast economic recovery and ensure that the market structure will develop in a more viable direction in the future.
Moreover, economic research shows that effective competition increases general welfare even in a recession and reinforces the ability of an economy to break away from the recession. Compromising competition policy goals may lead to a lengthening of the crisis, according to some studies. Special attention shall be paid to the dismantling of entry barriers from new business.
For example these thoughts are included in the report published by the Nordic competition authorities in Reykjavik today. It contains a number of recommendations concerning the competition authorities themselves as well as political and municipal decision-makers. The publication includes reviews on the impacts of the crisis and the challenges of competition policy in the different Nordic countries, and a summary of the experiences learnt from previous crises.
 Read the report: Competition Policy and Financial Crisis - Lessons Learned and the Way Forward.
Further information:
Assistant Director Seppo Reimavuo, tel. +358 9 7314 3602, +358 50 395 2765.
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