Bridling market dominance : a view from Jamaica

Abstract

In exploring the specific theme of market dominance in small states, this chapter highlights some of the peculiarities of such states, focusing on Jamaica, and through that lens discusses the treatment of dominance as a policy issue and the resultant legal framework. Whereas at the most general level, competition law seeks to ensure that domestic markets are not impeded by anti-competitive practices and that competitive forces are allowed to determine how markets are organised, this chapter argues that each state must determine the more specific objectives which its law must serve. The chapter explains that the Jamaican policymakers were obviously operating on the accepted principle that competition law must fit the circumstances of the state in which it is being implemented; the view being that a small state must by necessity be more tolerant than larger states would be, of higher levels of concentration in the market, if their significant industries are to be competitive in the regional and global arenas. The chapter posits that rigorous enforcement of competition law will protect the competitive process, thereby neutralising shocks to the economy.