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Governance And Accountability: The Regional Development Banks, Enrique R. Carrasco, Heejin Lee, Wesley Carrington
Governance And Accountability: The Regional Development Banks, Enrique R. Carrasco, Heejin Lee, Wesley Carrington
Enrique R Carrasco
Good governance has become a mantra of the movement seeking to make multilateral financial institutions more accountable to their stakeholders while improving institutional governance. Although much of the visible criticism has been directed at the World Bank and International Monetary Fund, the “regional” development banks share many of the same governance and accountability problems. Important issues relating to governance and accountability include the banks’ heavily unequal voting power based on capital contributions, limited transparency and disclosure requirements, questionable efficacy of monitoring programs on the impact of the banks’ projects, and limited scope of the banks’ private complaint mechanisms. This Article …
The Viability Of Antitrust Price Squeeze Claims, Herbert Hovenkamp
The Viability Of Antitrust Price Squeeze Claims, Herbert Hovenkamp
Herbert Hovenkamp
ABSTRACT A price squeeze occurs when a vertically integrated firm “squeezes’ a rival’s margins between a high wholesale price for an essential input sold to the rival, and a low output price to consumers for whom the two firms compete. Price squeezes have been a recognized but controversial antitrust violation for two-thirds of a century. We examine the law and economics of the price squeeze, beginning with Judge Hand’s famous discussion in the Alcoa case in 1945. While Alcoa has been widely portrayed as creating a “fairness” or “fair profit” test for unlawful price squeezes, Judge Hand actually adopted a …