Restrições verticais e defesa da concorrência: a experiência brasileira

This article reviews the Brazilian competition policy with regard to vertical restraints. Although relativelyshort, the Brazilian experience is surprisingly rich and consistent, particularly in comparison with the quitevolatile U.S. enforcement towards vertical restraints, which ranged from severe interventions to an absolutelylenient approach. A significant number of the most important antitrust cases in Brazil are related to verticalrestraints, and one of them resulted in the highest fine ever applied to a company by Brazilian authorities.Moreover, the necessary conditions to characterize an antitrust offence are relatively well set, comprisingthree main steps of investigation: a) the existence of dominant position, b) the feasibility and economicrationality of market foreclosure and raising the costs of rivals, and c) the efficiencies related to verticalcontrol. The article comprises a summary of the economic controversy regarding vertical restraints, and asummary of the main cases decided by the Brazilian Commission (Cade).

Cartel deterrence and settlements: the brazilian experience

Settlements are an important part of a program of cartel deterrence, particularly when the likelihood ofconviction and the litigation costs are higher. This type of negotiated procedure to reach finality is inessence complementary to the fully adversarial procedures associated to the trial by the administrative orjudicial courts, and to other investigative instruments, such as the leniency agreement. The Brazilianexperience provides some insights about the different models of direct settlement in cartel cases and thecomplex interaction among settlements, leniency agreements, and trial outcome. First, there is leeway forthe complementary models of settlements, the first oriented mainly to increasing the likelihood ofdetection, and the second oriented to saving social costs of litigation. Second, the concern with thepreservation of the demand for leniency agreements led the competition authority to restrict the use ofsettlements, which are effectively designed for the defendants that are likely guilty and give higher valueto finality. The recent experience illustrates that the current settlement policy has not caused any adverseeffect on leniency agreements, while reducing litigation costs and granting finality in some cases.

Redesigning the Food Chain: Trade, Investment and Strategic Alliances in the Orange Juice Industry

Change in trade barriers and capital flow creates opportunities for redesigning the food chain. The orange juice chain in U.S. and Brazil provides an interesting illustration of how institutional harmonization, high import tariff rates and complementary capabilities open new opportunities for strategic alliances and the re-arrangement in the FCOJ chain. This finding has the following implications. First, trade barriers are not enough to support FDI and related internationalization decisions. Second, the perspective of market integration creates a positive environment for new strategic alliances and the re-design of the food chain. And third, the existence of complementary capabilities between foreign and domestic companies is a necessary condition for this type of supply chain re-arrangement.FTAA, foreign direct investment, Orange Juice Industry, strategic alliances, Agribusiness,

Cooperativas médicas: ilícito antitruste ou ganho de bem-estar?

Um fenômeno verificado no mercado de saúde é a coordenação de médicos em cooperativasmédicas para fazer frente ao exercício de poder de compra por parte das operadoras de planos desaúde. Na linha dos argumentos de Galbraith (1952), esse tipo de arranjo pode ser entendido comocriação de poder compensatório, procurando dirimir a assimetria de poder na negociação entremédicos e operadoras. Entretanto, essa ação concertada entre prestadores de serviços de saúde temsido condenada pelas autoridades de defesa da concorrência com base na interpretação de que essacoordenação entre médicos constitui formação de cartel, que é considerado um ilícito antitruste.Verifica-se, portanto, uma incoerência entre a atuação das autoridades de defesa da concorrência e atese de poder compensatório. A análise empírica – utilizando o método econométrico de painel –indica que, no setor de saúde suplementar, pelo menos na dimensão preço, existe a possibilidade deefeitos positivos associados ao poder compensatório, resultado que desafia a prática antitrustecorrente.

Governança Ineficiente: Uma Análise das Transações na Indústria Petroquímica Brasileira

Cross-holding (vertical quasi-integration) is often characterized as a major organizational failure in the Brazilian petrochemical industry. This paper aims to identify if there is governance misalignment in three periods: the end of the 1980’s and 1990’s, and after the founding of Braskem, in 2001. By means of an analysis of the determinants of the governance structure, in accordance with Williamson (1996), we have two main findings. First, vertical quasi-integration was an adequate solution for the transactions problems in the rise of Brazilian petrochemical industry. Given the need for aggregating complementary and non-tradable capabilities of state, domestic firms and multinationals, vertical quasi-integration was the mechanism that safeguarded the return on these capabilities. Moreover the lower level of production volatility during the 1980’s made hybrid forms, such as vertical quasi-integration, more likely. However, this governance structure became misaligned during the 1990’s because of changes in transaction attributes, particularly volatility and asset specificity. Second, there is some empirical support for path dependence on the organizational choice, as the expected decrease in vertical quasi-integration occurred only when an exogenous event created the opportunity for restructuring. As a consequence, industrial policy should take into account governance design particularly in industries that experienced deep changes in their transactionIndústria Petroquímica, Nó-societário, Quase-integração Vertical, Governança

Além dos "achismos" e das evidências anedóticas: medindo a eficiência dos tribunais brasileiros

This paper uses Data Envelopment Analysis (DEA) to measure efficiency in Brazilian State Courts. Results show that relative efficiency varies substantially across the states. There is a group of consistent top performers, as well as a group of consistent poor performers. Yet, the biggest problem seems to be with a group of courts presenting very unstable results, whichmight indicate deficient data collection and/ormeasurement. It may also be inferred from the results that the lack of resources is not the main reason for inefficiency, since efficiency could be attained without changing the level of inputs employed.Este artigo usa a Análise Envoltória de Dados (DEA) para medir a eficiência na Justiça Estadual Brasileira. Os resultados indicam que a eficiência relativa varia significativamente entre diferentes tribunais. Há um grupo que consistentemente apresenta bom desempenho, e outro que consistentemente apresenta desempenho fraco. Entretanto, o maior problema parece estar com um grupo de tribunais que apresenta resultados instáveis, podendo indicar deficiências na coleta e/ou mensuração dos dados. Também é possível inferir a partir dos resultados que a falta de recursos não é a principal explicação para a ineficiência, dado que esta pode ser alcançada sem alteração na quantidade de recursos empregados

Uma análise das capacidades tecnológicas da agroindústria canavieira em Minas Gerais

This paper aims to appraise the technological capabilities of sugarcane agro-industry in Minas Gerais State, that has the second largest area planted with sugarcane in Brazil, that is 679.000 ha. A field research survey with sugar and ethanol mills provides the primary data for assessing technological capabilities. The theoretical approach used was the technological capabilities matrix, which is based in Lall (1992), being this matrix divided into three specifications: basic (simple routine), intermediate (adaptive duplicative) and advanced (innovative risky). As a main finding, this sugarcane agro-industry, technically qualified and with low cost, presents a reasonable domain of basic and intermediate technological capabilities. However, the advanced technological capabilities are still lagging behind the technological frontier.Dynamics, Technology, Sugar, Ethanol, Research and Development/Tech Change/Emerging Technologies,