Rising Corporate Market Power: Emerging Policy Issues


Ufuk Akcigit ; Wenjie Chen ; Federico J Diez ; Romain A Duval ; Philipp Engler ; Jiayue Fan ; Chiara Maggi ; Marina Mendes Tavares ; Daniel A Schwarz ; Ippei Shibata ; Carolina Villegas-Sánchez

Publication Date:

March 15, 2021

Electronic Access:

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Disclaimer: This Staff Discussion Note represents the views of the authors and does not necessarily represent IMF views or IMF policy. The views expressed herein should be attributed to the authors and not to the IMF, its Executive Board, or its management. Staff Discussion Notes are published to elicit comments and to further debate.


Corporate market power has risen in recent decades, and new estimates in this note suggest that the likely wave of small and medium-sized enterprise bankruptcies from the ongoing pandemic will further strengthen market concentration. Whether and how policymakers should address this issue is hotly debated. This note provides new evidence on the policy relevance of rising market power and highlights possible implications for the design of competition policy frameworks and macroeconomic policies.


Staff Discussion Notes No. 2021/001



Publication Date:

March 15, 2021



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