In Competition Law in Singapore, Dr. R Ian McEwin, Director at Global Economics Group, analyzes the effectiveness of the Singapore Competition Act, passed in 2004. Singapore’s antitrust law is now rather simple in theory”anticompetitive conduct can be excused if there would be a Net Economic Benefit, that is, if the total welfare to society would be improved. Despite the fact that this law has only recently been passed and has had little time to make a noticeable impact on improving economic welfare in Singapore, Dr. McEwin concludes that any positive impact is likely to be greater in Singapore than in many other countries that have recently introduced competition law. This is a result of the fact that considerable care has been taken to ensure that the policy goals and enforcement clearly improve economic efficiency, and that the laws were carefully constructed with a strong foundation in economic theory.
Competition Law in Singapore
By R. Ian McEwin on March 17, 2011