Competition policy and international trade in air transportation and telecommunications services

Article Abstract:

An analysis of the historical development of the international telecommunications and aviation industries show that the the formation of the internationally coordinated competition policy can benefit from the early formation of rules of competitiveness even on a partner level in the form of rents on carriers' exclusive international rights. But these same rents can be seen as the stifling factor in the eventual rise of the industries to full competition, especially in cases where there is an uneven liberalization in such industries among nations.

Licenses, Patents & Trademarks, Telecommunications services industry, Telecommunications industry, International aspects, Airlines, Intellectual property, Exclusive dealing agreements

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Adverse selection as a barrier to entry in the banking industry

Article Abstract:

The use of asymmetric information in evaluating the creditworthiness of credit applicants generates a certain degree of barrier to entry resulting from endogenous competition. Such is particularly true for economic models that are based on the concept of Bertrand competition, which maintains that the fixed cost is brought about by a bank's intention to tap a credit market with heterogeneous borrowers. This method of adverse selection has been proven to mitigate the risks faced by banking companies regarding the prevalence of bad borrowers.

Business Support Services, Credit & Collection Services, Credit Reporting and Collection, Financial information services, Barriers to entry (Industrial organization), Barriers to entry, Debtor and creditor, Credit market, Credit markets

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A tale of two reforms

Article Abstract:

A study was conducted to show that the absence of well-functioning product markets in transition economies is a condition wherein big bang minimizes output while the Chinese reform increases output. The Soviet-type economic system was characterized as an inefficient but consistent system support state monopolization of industry and central planning as complementary components. Results indicated that the short-run performance of a transition economy under big bang correlates with the development of competitive products markets.

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