To what degree might digital disruption from FinTech and BigTech impair stability in financial markets, and do these players need a different type of regulatory oversight? To what degree can better regulation solve the conundrum of competition-versus-stability, and does a middle ground exist? Do new actors from FinTech and BigTech create systemic risks similar, or indeed different to those inherent in the traditional banking model? Should BigTech be regulated as a financial services provider or differently?Read more
In June 2018, the OECD held a roundtable to discuss competition challenges related to taxi and ride-sharing services. It focused on the regulatory and competition challenges raised by new companies; such as the debate about the review of the current regulatory framework, the issues related to the role of technology and big data in pricing, the effect of surge prices from a competition law perspective and the emergence of alternative business models in the ride-sourcing industry (e.g. decentralised platforms).Read more
Main areas of work include: Digital Economy and Innovation, Market Studies, International Co-operation, Evaluation of Competition Interventions, Fighting Bid Rigging in Public Procurement and Competition Assessment.Read more
Why does competition matter in regulated sectors?
Competition is about increasing choice and efficiency to benefit consumers and make the economy more productive. This also applies to sectors which in many countries have been liberalised (such as electricity, water, railways and telecoms), which are subject to regulation (banking and other financial services) or where the government plays an important role (healthcare, education and local public services).
These sectors can raise complex policy challenges, for example:
The OECD competition work in regulated sectors
The Competition Committee’s work in this area focuses on improving economic regulation and proposing the appropriate policies for competition to deliver more benefits for consumers and growth. The Best Practice Roundtables identify key issues in each sector and present the latest developments to address those problems. Many roundtable reports are also a valuable resource for advocating policy reform in a sector, for example by surveying regulations and policies in different countries. They also cover cross-cutting thematic issues, such as the role of behavioural economics in competition policy and price volatility in the case of commodities.
In addition, the OECD on occasion works with member countries to promote reform and foster its competitiveness, most recently in Mexico. Sectoral reports cover the pharmaceutical industry, banking, transportation and telecommunications.
Permanent URL: www.oecd.org/competition/industrysectors
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