Rising Corporate Market Power: Emerging Policy Issues

Corporate market power has risen in recent decades and will likely increase further as a result of the wave of bankruptcies triggered by the pandemic.
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Volume/Issue: Volume 2021 Issue 001
Publication date: March 2021
ISBN: 9781513512082
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Summary

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.