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BUSINESS COMPETITION CASE STUDY: ROMANIA

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Author(s): Nicoleta Alina Andreescu

Journal: Annals of the University of Oradea. Fascicle of Textiles, Leatherwork
ISSN 1843-813X

Volume: XIV;
Issue: 1;
Start page: 6;
Date: 2013;
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Keywords: competition | law | Competition Council | companies | sanctions

ABSTRACT
: In this paper we have analized the application and perception of economic competition in the business environment in Romania.This paper is a theoretical approach of the legislation and also how national legislation is aligned in the field of EU legislation.It is a generally accepted principle the idea that competition contributes to economic development. This principle is supported by both economic theory and practice. Basic arguments in support of competition policy were focused, over time, in particular on the efficiency gains that competition generates both at company level and the efficiency of the markets function (maximizing consumer welfare).Obviously, the concept of a perfectly competitive market is purely theoretical, such a market doesn`t exist in reality. From the point of view of the competition authority, the functional unit is the relevant market. The relevant market is the main instrument which defines the framework within a competition occurs between businesses.The Competition Council was established under the Competition Law no. 21 of 10 April 1996, with subsequent modifications and completions. In its capacity as national competition authority, the institution implement and ensure compliance with national and EU provisions on competition.In the second part of the paper we have analyzed penalties imposed by the Competition Council of Romania and the evolution of corporate fines between 2003-2011.
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