During the financial crisis many governments aided both the financial and non-financial sectors in their countries on an unprecedented scale. These emergency measures have in some cases taken precedence over competition rules. In particular the fact that governments helped some banks but not others has weakened competition in some markets, with “too big to fail” institutions commanding a higher market share than previously. This has exacerbated moral hazard problems. With the stabilisation of the economic situation, these emergency measures will have to be phased out, and incentives for exit designed. Competition principles and agencies must play a major role in the design and implementation of these exit strategies, as anticompetitive measures tend to retard or even prevent recovery in the aftermath of a crisis.
Mødedato: 30-11-2010
Exit Strategies
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