Modern tendencies in legal regulation of competition and international legal instruments of competition policy

Kseniia Smyrnova

Abstract


Legal regulation of relations of competition in order to establish the bona fide relationship undistorted entities in the market is one of the fundamental principles of a free market economy. The presence of competition in the market leads to an increase in economic efficiency so that consumers receive the appropriate share of wealth. Thus, we can conditionally display concept «antitrust welfare», which comes also to economic efficiency and well-being of consumers and competition in the market. In today's globalized trade we can observe the tendency of convergence of national legal competitive environment by entering into international agreements and the inclusion of these special "clause" to regulate competition.

Key words: competition, abuse of dominance position, mergers, international competition network, agreements, positive & negative comity, Association agreement


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