Economic Issues in Merger Policy

HOP 5. Economic Issues in Merger Policy

E Victor Morgan

This brief paper is concerned with policy towards mergers and, in particular, with the policy of confining merger references to the Monopolies and Mergers Commission (MMC) largely to cases which seem likely to cause a significant reduction of competition.

E. VICTOR MORGAN recently retired as Professor of Economics at the University of Reading, having previously held Chairs in Economics at the University College of Swansea (1945-66) and the University of Manchester ( 1966-74). He is a well-known expert on the economics of domestic and international finance and has long consultancy experience in the field of competition policy. He took a major part in the recent debate on the future of the pensions system. His Choice in Pensions (1984) was published by the Institute of Economic Affairs, on whose Advisory Council he has served for many years.