Staff Discussion Notes Volume 2021 Issue 001: Rising Corporate Market Power: Emerging Policy Issues (2021)

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Rising Corporate Market Power: Emerging Policy Issues

Author:

Ms. Wenjie Chen

Ms. Wenjie Chennull

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Mr. Federico J Diez

Mr. Federico J Diez
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Mr. Romain A Duval

Mr. Romain A Duval
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https://orcid.org/0000-0002-2775-7172

Philipp Engler

Philipp Englernull

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Jiayue Fan

Jiayue Fannull

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Chiara Maggi

Chiara Magginull

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Ms. Marina Mendes Tavares

Ms. Marina Mendes Tavares
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Mr. Daniel A Schwarz

Mr. Daniel A Schwarz
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Mr. Ippei Shibata

Mr. Ippei Shibatanull

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, and

Carolina Villegas-Sánchez

Carolina Villegas-Sáncheznull

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Series:: Staff Discussion Notes

Volume/Issue:: Volume 2021: Issue 001

Publication Date:: 15 Mar 2021

DOI:: https://doi.org/10.5089/9781513512082.006

ISBN:: 9781513512082

ISSN:: 2617-6750

Pages:: 34

Keywords:: Market power; business dynamism; Mergers and acquisitions; competition policy; digital economy; monetary policy; acquiring firm; competition authorities; concentration ratio; analysis point; high-markup firm; growth rates decrease; labor markdown; competition authority; representative firm; computation firm; market concentration; price markup; Competition; Labor markets; Central bank policy rate; Global; market power entrenchment; C. market power; market power increase; B. market power; Eastern Europe

Legal-disclaimer:: Staff Discussion Notes (SDNs) showcase policy-related analysis and research being developed by IMF staff members and are published to elicit comments and to encourage debate.The views expressed in this Policy Discussion Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy.

Series:: Staff Discussion Notes

Volume/Issue:: Volume 2021: Issue 001

Language:: English

Publication Date:: 15 Mar 2021

DOI:: https://doi.org/10.5089/9781513512082.006

ISBN:: 9781513512082

ISSN:: 2617-6750

Pages:: 34

Keywords:: Market power; business dynamism; Mergers and acquisitions; competition policy; digital economy; monetary policy; acquiring firm; competition authorities; concentration ratio; analysis point; high-markup firm; growth rates decrease; labor markdown; competition authority; representative firm; computation firm; market concentration; price markup; Competition; Labor markets; Central bank policy rate; Global; market power entrenchment; C. market power; market power increase; B. market power; Eastern Europe

Legal-disclaimer:: Staff Discussion Notes (SDNs) showcase policy-related analysis and research being developed by IMF staff members and are published to elicit comments and to encourage debate.The views expressed in this Policy Discussion Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy.

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Corporate market power has risen in recent decades, and new estimates in this note suggest that the likely wave of small and medium-sized enterprise bankruptcies from the ongoing pandemic will further strengthen market concentration. Whether and how policymakers should address this issue is hotly debated. This note provides new evidence on the policy relevance of rising market power and highlights possible implications for the design of competition policy frameworks and macroeconomic policies.

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Staff Discussion Notes

ISSN:: 2617-6750

Publisher:: International Monetary Fund

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