Transnational Competition Law Rules: A Political Economy Perspective

This contribution critically examines the absence of a comprehensive transnational competition law regime and explores the role of competition authority cooperation as an alternative form of governance. It examines the political economy of past harmonisation efforts, current transnational approaches, and the viability of a global competition law framework. Grounded in the public autonomy–private rights paradigm, the authors assess the tensions between technocratic governance and democratic legitimacy, which extend from domestic competition policies to international cooperation mechanisms such as the International Competition Network. The authors explore the potential of a Plurilateral Agreement on Competition to mitigate cross-border externalities and enhance global welfare and critically evaluate whether the efficiency gains such an agreement might yield justify the erosion of public autonomy inherent in technocratic structures. Highlighting the importance of regional diversity in competition law frameworks, the authors contend that context-sensitive, institutionally pluralistic approaches provide a more effective means of balancing public autonomy with the protection of private rights while adapting to individual jurisdictions’ unique economic and political contexts.