The International Competition Network: Prospects and Limits on the Road towards International Competition Governance

The establishment of the International Competition Network (ICN) opens up a new avenue towards an international competition policy regime. This article describes the underlying transmission mechanisms and governance modes of the ICN and connects them to the insights of modern economic theory. Based on the results, the prospects and limits of the ICN concerning conflict resolution, procedural efficiency, political economy fit and the conflicting areas of harmonization and decentralism of rules and policies are derived. It is shown that the ICN offers considerable merits, such as increasing procedural efficiency and facilitating consensus building. However, some problems of international competition governance, such as the focus on national interests and the scope for substantial conflict, are unlikely to be resolved within the ICN. Additionally, the attitude of the ICN towards future harmonization or preserving of institutional diversity remains unclear.