Institutional Foundations for Economic Legal Reform in Transition Economies: The Case of Competition Policy and Antitrust Enforcement

The widespread adoption by transition economies of competition policy systems raises important questions about the design and phasing of legal reforms in emerging markets. Success in transition economies in developing useful competition policy programs and other economic legal reforms requires close attention to the establishment of public and private institutions whose effective operation is essential to a legal regime. Properly conceived competition policy programs that account carefully for national circumstances can play a constructive role in promoting economic growth. The content of such programs can be structured to match the institutional capacity of each nation, and the mix of policy instruments can be adjusted over time as requisite institutions are improved.

The enhancement of supporting institutions should be a priority for technical assistance projects.