Wednesday, April 9, 2014

Good Competition and Good Regulatory Framework = Big Impact on Growth!

"What struck me most was that Greece was a relatively closed economy and that Greek consumers did not have at their disposal enough options for goods and services because of the lack of competition. Therefore we took a very, very thorough and in-depth look at the question of competition. And competition helps in many ways, not only in terms of empowering the consumer. It brings with it investment, management skills, access to other markets; it helps combat corruption. What you will find, which has inevitably and invariably been the case, is that one measure will count for one, but two measures will count for three, and three for 25. Measures are mutually reinforcing, they don’t work in isolation. Put good competition and a good regulatory framework together and you will have a big impact on growth – you can have an increase in growth in the next 5-20 years of between 5-20 percent of GDP".

Angel Gurria, Secretary General of the OECD, in this interview with the Ekathimerini.

1 comment:

  1. 'Good regulatory framework'...may I add stable ? I guess 'good' is a matter of point of view, whereas 'stable' is the absolute tool which allows Business plans to be reliable....