Emerging Markets and U.S. Horizontal Merger Guidelines : A Turkish Competition Law Perspective

Developed economies have historically been a model for emerging market economies, particularly in the development and enforcement of competition laws. Modifications to competition law rules in developed economies, however, may not always be practical for emerging market economies to adopt. Insufficient knowledge, experience, and power of competition law authorities in emerging markets require a structure with greater legal certainty rather than one that provides a wide berth for interpretation. This article provides an overview of some of the significant developments in the 2010 U.S. Horizontal Merger Guidelines from an emerging market perspective. While taking into consideration the general characteristics of emerging market countries, the treatment of four specific topics under the new Guidelines will be scrutinized from a law and economics perspective: market definition, market shares and market concentration, market entry, and coordinated effects. This article also delves into discussions of Turkish competition law matters, as an example of emerging merger regime models, with respect to each of the four areas of discussion