Histories of competition law in Latin America

In this chapter we present a characterization of three types of competition law regimes in Latin America that have followed each other since the second half of the twentieth century. Each type, or “layer,” corresponds not only to a particular historical period, but also to a particular group of ideas about competition and of regulation. First, we conclude that there are important differences among the different competition law regimes of the region. Such heterogeneity may be determined by a range of factors, such as the enforcers’ technical capacity, their independence, or the overall ideology of each regime; in any case, there is little empirical evidence that accounts for these divergences. Second, the reforms introduced during the 1990s were not as sweeping as the conventional narrative suggests. The second generation regimes resemble their forebearers in important aspects, such as relying on public enforcement through competition agencies. Third, there are important aspects of Latin American competition law where there is preciously little research, for example, about the early adoption and implementation of competition laws, and the evaluation of the impact of antitrust enforcement.