The Evolution of Antitrust Regulation of Joint Venture Agreements

A. Shastitko, N. Pavlova
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Abstract

Cooperation agreements between competitors can be an important tool for markets to adapt to external shocks, whether those are the consequences of a pandemic or economic sanctions. In this regard, the discussion of approaches to evaluating such agreements for admissibility from the point of view of antimonopoly legislation under current conditions is relevant. The purpose of the article is to assess the current state of antimonopoly control of cooperation agreements in Russia. To do this, we use the tools of the new institutional economic theory to analyze the history of the development of the regulation of such agreements. We reveal how modern sources of possible type I enforcement errors (the erroneous prohibition of agreements that actually contribute to the growth of public welfare) are connected with the history of institutional changes in the rules governing the analysis of cooperation agreements from the point of view of antimonopoly legislation. In particular, we show that the approaches to the analysis of cooperation agreements developed during the period of validity of a specific set of rules in 2011–2015 and summarized in the Clarifications of the Presidium of the FAS Russia on the procedure and methodology for analyzing cooperation agreements (2013) currently create an overly strict control regime for such agreements after the changes in the antimonopoly law that took place in 2015. The importance of solving this problem is demonstrated in light of the ability of companies to use cooperation to mitigate the consequences of external shocks, including economic sanctions. Structural alternatives to the control of such agreements are formulated that are applicable to various actual forms of agreements between competitors, which could contribute to a better adaptation of market participants to changing conditions.
合资协议反垄断规制的演变
竞争对手之间的合作协议可以成为市场适应外部冲击的重要工具,无论这些冲击是流行病还是经济制裁的后果。在这方面,从当前条件下的反垄断立法的角度讨论评估此类协议的可采性的方法是相关的。本文的目的是评估俄罗斯合作协议反垄断控制的现状。为此,我们运用新制度经济理论的工具来分析此类协议监管的发展历史。我们揭示了可能的第一类执行错误(对实际上有助于公共福利增长的协议的错误禁止)的现代来源如何与从反垄断立法的角度分析合作协议的规则的制度变化历史联系在一起。特别是,我们表明,在2011-2015年一套特定规则有效期内发展起来的合作协议分析方法,并在FAS俄罗斯主席团关于分析合作协议的程序和方法的澄清(2013年)中进行了总结,目前在2015年反垄断法发生变化后,对此类协议建立了过于严格的控制制度。公司有能力利用合作来减轻包括经济制裁在内的外部冲击的后果,这表明解决这一问题的重要性。制定了管制这种协议的结构性替代办法,适用于竞争者之间的各种实际形式的协议,这可能有助于市场参与者更好地适应不断变化的条件。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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