The Efficiency Test under Competition Law and Regulation in Small Distant Open Economy that is New Zealand

Abstract

This paper considers the application of competition law and price regulation inthe very small and isolated economy that is New Zealand. It argues that the total surplus (efficiency) criterion should be applied in tests of practices and actions where the competition threshold is not met or doubtful. Further it argues that this criterion is admitted if not required under New Zealand statutes. The differential treatment of affected parties including foreign investors in measuring the surplus is considered.