Skip to main content

Featured

The Time Value of Money

By
In the previous chapters, we explored the ecosystem of financial markets and institutions. Now, we turn to a concept so fundamental that it underpins almost every financial decision ever made: the Time Value of Money ( TVM ) . This chapter introduces the core principles, definitions, and calculations that form the bedrock of valuation . 3.1 Introduction to Time Value of Money Would you rather have €100 today or €100 one year from today? Intuitively, you would choose to have the money today. This simple preference illustrates the most important concept in finance: a dollar (or euro) today is worth more than a dollar tomorrow. This is not because of inflation , though that can be a factor. It is because of money's earning potential : If you have €100 today, you can invest it. In a year, that investment could grow to €102, €105, or even more. The €100 you receive in the future cannot be invested until you receive it, and you therefore miss out on that entire period of potential growt...
Post a Comment

Local Competition Laws (Comparative Perspective)

Image
By

Objectives

By the end of this lecture, students should be able to:

  • Understand the structure and purpose of local competition laws
  • Compare competition law frameworks across different regions
  • Identify similarities and differences in enforcement approaches
  • Analyze key regional and national competition cases
  • Appreciate the role of regional integration in competition law enforcement

1. Introduction to Local Competition Laws


1.1 Meaning of Local Competition Laws


Local competition laws are national or regional legal frameworks enacted to regulate market behaviour within a specific jurisdiction. These laws aim to prevent anti-competitive conduct, promote market efficiency, and protect consumer welfare.


1.2 Importance of Local Enforcement


Effective local enforcement ensures that competition law principles are adapted to domestic economic conditions while aligning with international standards.


1.3 Interaction with Global Competition Law


Local laws increasingly operate alongside international cooperation mechanisms, especially in cross-border cases involving multinational corporations.


2. Competition Law in Africa


2.1 Regional Competition Frameworks


Africa has developed regional competition regimes to support economic integration and harmonised enforcement.

  • COMESA Competition Regulations apply to cross-border trade within member states and address restrictive business practices, abuse of dominance, and mergers.
  • ECOWAS and SADC have emerging competition law frameworks supporting regional trade.

2.2 National Competition Laws


Many African states have enacted national competition statutes to regulate domestic markets.

  • South Africa enforces competition law through the Competition Act, supported by the Competition Commission and Competition Tribunal.
  • Zambia regulates competition through the Competition and Consumer Protection Act, enforced by the Competition and Consumer Protection Commission.

2.3 Case Study: Zambia Sugar (2018)


The case involved allegations of abuse of dominance in the sugar market. It demonstrated the application of competition law principles to protect market access and prevent exclusionary conduct.


3. Competition Law in Asia


3.1 China


China’s *Anti-Monopoly Law* regulates monopolistic agreements, abuse of dominance, and mergers. Enforcement is conducted by specialised authorities with increasing global influence.


3.2 Japan


Japan’s *Antimonopoly Act* focuses on cartels, bid-rigging, and unfair trade practices, enforced by the Japan Fair Trade Commission.


3.3 India


India’s *Competition Act, 2002* establishes the Competition Commission of India, which oversees anti-competitive agreements, abuse of dominance, and mergers.


4. Competition Law in Europe


4.1 European Union Competition Law


EU competition law is primarily governed by Articles 101 and 102 of the Treaty on the Functioning of the European Union.

  • Article 101 prohibits anti-competitive agreements
  • Article 102 prohibits abuse of dominant position

4.2 Enforcement Mechanisms


The European Commission works alongside national competition authorities through the European Competition Network to ensure uniform enforcement.


4.3 Case Study: Microsoft (2007)


The case addressed abuse of dominance through tying practices. The European Commission imposed substantial fines and behavioural remedies, reinforcing strict enforcement against dominant firms.


5. Competition Law in the Americas


5.1 United States


US competition law is governed by the *Sherman Act*, *Clayton Act*, and *Federal Trade Commission Act*, enforced by the Department of Justice and the Federal Trade Commission.


5.2 Brazil


Brazil enforces competition law through *CADE, which regulates cartels, abuse of dominance, and mergers within the Brazilian market.


5.3 Extraterritorial Application


American competition laws apply to foreign conduct that has a substantial effect on US commerce, demonstrating a strong extraterritorial approach.


6. Comparative Analysis of Local Competition Laws


6.1 Common Features


Most competition regimes prohibit cartels, abuse of dominance, and anti-competitive mergers while promoting consumer welfare.


6.2 Differences in Enforcement


Differences arise in institutional structures, penalties, merger thresholds, and procedural rules.


6.3 Trend Towards Harmonisation


Globalisation has encouraged convergence of competition laws, supported by international institutions and cooperation frameworks.


7. Conclusion of Lecture 6


7.1 Summary


This lecture examined competition laws across Africa, Asia, Europe, and the Americas, highlighting regional frameworks, enforcement mechanisms, and notable cases.


7.2 Course Wrap-Up


Together with earlier lectures, this session completes the core structure of global competition law by linking international principles with local enforcement.


➡ Lecture 7: Final Revision and Case Law Synthesis

Local Competition Laws (Comparative Perspective) /E-cyclopedia Resources by Kateule Sydney is licensed under CC BY-SA 4.0

Labels:

Comments

Post a Comment

Popular posts from this blog

Echoes of the Dusty Road/ The Unusual Journey of Compassion

By
Echoes of the Dusty Road" is a poignant journey through darkness, where courage prevails and hope guides the way home A Journey Through Darkness In the depths of shadows, where echoes roam, Along the dusty road , I find my home. Through valleys of shadows, I bravely stride, Guided by hope, with courage as my guide. In the midst of darkness, where shadows dance, I stand alone, with fear's icy lance. But amidst the howling wind and whispered dire, I choose to believe, fueled by inner fire. In the stillness of the night, whispers softly sing, Reminding me of truths, to which I cling. With resolve in my heart, I press on, Through the darkness, until the light of dawn. In the depths of shadows, where courage prevails, I find strength within, as hope unfurls its sails. For in the journey through darkness, I come to see, The dusty road home, is where I'm meant to be. Through the maze of uncertainty, I forge ahead, With each step, dispelling the fear and dread. Though shadows...
Post a Comment
Read more

Structure and Function of the Respiratory System

By
This article provides an overview of the respiratory system , detailing its structure, function, and the process of gas exchange in the lungs essential for sustaining life. Image by Respiratory System (Illustration).png Gas Exchange in the Lungs The respiratory system is a complex network of organs and tissues responsible for the exchange of gases between the body and the environment. From the moment we take our first breath to every subsequent inhale and exhale , the respiratory system plays a vital role in sustaining life. This article will delve into the intricacies of its structure and function, focusing on the remarkable process of gas exchange in the lungs. Structure of the Respiratory System: The respiratory system can be divided into two main parts: the upper respiratory tract and the lower respiratory tract . Upper Respiratory Tract: Nasal Cavity : Acts as the entry point for air into the respiratory system. It is lined with mucous membranes and tiny hairs called cilia ...
Post a Comment
Read more

Exploring the Architectures and Roles of Cell Organelles

By
Explore the intricate structures and vital functions of cell organelles , including the nucleus , mitochondria , and chloroplasts , shedding light on their roles in cellular processes and organismal survival. Image by  Simple diagram of animal cell (en).svg Nucleus, Mitochondria, and Chloroplasts Cell organelles are the microscopic structures within cells that perform specialized functions crucial for the survival and functioning of living organisms. Among the key organelles are the nucleus, mitochondria, and chloroplasts, each with distinct structures and roles. Understanding their compositions and functions provides insight into the intricate workings of cells. The Nucleus: The nucleus acts as the control center of the cell, housing the cell's genetic material in the form of DNA (deoxyribonucleic acid). Structurally, it is surrounded by a double membrane known as the nuclear envelope, which contains nuclear pores that regulate the passage of molecules such as RNA and proteins...
Post a Comment
Read more