DEVELOPMENT OF DIGITAL ECONOMY IS AHEAD OF THE LAW AND ENFORCEMENT PRACTICE

The conclusion was made by experts of BRICS Antimonopoly Centre and leading international experts. A Report on new approaches to competition protection in the digital economy will be presented at the VI BRICS Competition Conference on 19 September

The Report of BRICS Antimonopoly Centre reviews the entire spectrum of antimonopoly regulation on digital markets in general and the latest BRICS experience, in particular, as well as analysis of the leading modern theories in the field of the antimonopoly law in the context of the economics of the BRICS space.  The study was conducted throughout a year by a cross-disciplinary Centre team with engagement of the leading world scholars.

First of all, the Report will serve as an expert-and- analytical base for BRICS Working Group for studying competition on digital markets. The findings will lay the foundation for further discussions of enforcers regarding concerns of their agencies and search of collaborative solutions.

The Report is the first and so far the only efforts in the world to summarize experience of all BRICS countries in terms of transformation of antimonopoly approaches in these economies under the impact of digitalization.  The researchers exposed regulatory gaps in those jurisdictions where development of digital economy is ahead of the law and enforcement. The study also compares approaches employed by BRICS antimonopoly regulator. Moreover, it gives a critical analysis of more mature jurisdictions (the USA, the EU) and must stimulate a hard-hitting and initiative approach in digital markets regulation.

The country sections of the Report were drafted by the leading BRICS researchers in the field of antimonopoly regulation. Each country team collected, analyzed and translated into English all cases investigated by the antimonopoly bodies that are related to digitalization, which means that for the first time “digital” cases of BRICS economies will be accessible for public at large.

Deputy Head of FAS Andrey Tsyganov commented: “One of the key forms of cooperation between BRICS competition authorities is to conduct collaborative research of socially important markets and devise measures to support and develop competition on them. We chose digital markets as one of such areas. The first meeting of BRICS “Digital” Working Group took place in Brazil a year ago and a decision was made to draft a research report. Each of our agencies gave exhaustive information to the authors regarding methodological approaches, particular cases, and issues related to digital transformation. Our experts were actively involved in discussing intermediary results of the work. BRICS Antimonopoly Centre undertook a coordinating function for cooperation of the scholars working on the Report in different corners of the world, and it managed perfectly – the Report is done in time and is of due quality.

I’d like tom specially emphasize that BRICS research report are not just a collection of analytical materials. They definitely are of strong practical value.

For example, the first BRICS Report on competition on the agro-industrial markets was very timely and helped give a correct assessment of risks and formulate the content of an order in the course of investigating a well-known “Bayer/Monsanto” merger. I am confident that the new achievements of the BRICS research team will also be sought after by our competition authorities and be of interest for the academic and expert communities”.  

Alexei Ivanov, Director of BRICS Antimonopoly Centre, Director of the Institute of Law and Development, Higher School of Economics, Skolkovo, concluded:  “The Report is the second big research project of BRICS Antimonopoly Centre after successfully completing the work on food products markets. We brought together a team of leading experts on antimonopoly regulation form each BRICS country and organized a number of research workshops and meetings all over the world throughout a year. Bo doubt, the report will be a valuable guidance for national agencies to develop a new antimonopoly policy in view of the social-and -technological realities”.