ABSTRACT
Competition policy refers to a set of laws and regulations aimed at maintaining
a fair degree of competition by eliminating restrictive business practices by pri-
vate enterprise. According to Graham (2000, p. 205), competition policy includes
‘both anti-monopolies (antitrust) and regulation of state aid (i.e. subsidies and
subsidy-like measures)’. Restrictive (or anticompetitive or unfair) business prac-
tices are those that limit entry into a market by other enterprises or regulate sup-
ply in a way deemed harmful to other (existing or potential) producers or to
consumers. Such practices include collusion, predatory pricing behaviour, capac-
ity expansion that deters market entry and mergers and acquisitions that reduce
competition.
