لایب سان

توضیحات کتاب :

Open market functioning has many supporters as detractors biased in favor of regulation and competition rather than regulation and control. These divergent pulls frame the political economy of regulation and competition. Paradigm shifts in economic policies from regulation to competition is a layered process beset with distinguishing the process from regulating a sector to regulating markets for competitiveness. In India at least the processes are not sharply defined. Regulation has always been central to the industrial strategies adopted by the Government of India. Discussions on regulation per se contend with differing perspec- tives of welfare maximization of economic welfare and consumer harm. The underlying debates on industrial strategies preceding the shift to economic liberalization was on the opening of sectors to private invest- ments and the sequencing of reforms at the macro-level of current account versus capital account liberalization and at the micro-level of the sectors that need regulation on account of their economic charac- teristics of natural monopoly such as power sector and telecom (Geeta, 2020, 2017). The debate in these sectors was on the balance of power in the structure of designated regulatory body or sector commissions.1 The paradigm shift to an open economy and a market facilitator was much slower with the Competition Commission established a decade later. The debates were on agreements that result inappreciable effect on competi- tion to entry barriers legally created or market created to abuse of marke