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2005 OECD Economic Surveys: Iceland 2005

image of OECD Economic Surveys: Iceland 2005

This 2005 OECD Economic Survey of Iceland examines key economic challenges Iceland will face in coming years. In particular, it looks at the effects of planned large-scale investments in power-intensive industries. As always, the report provides a comprehensive overview of the macroeconomic situation and outlook, monetary management, and the fiscal stance. The chapter on structural policy looks at employment and environmental issues Iceland will face as a result of the large investments in power-intensive industries. The final chapter discusses the current state of product market competition in Iceland, including the legal and regulatory framework, and suggests directions for further improvement.

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Product Market Competition and Economic Performance

This chapter discusses the current state of product market competition in Iceland, including the legal and regulatory framework, and suggests directions for further improvement. Given the size of the economy, efficiency considerations dictate high concentration in many markets, and preventing abuse of market dominance is therefore a challenging task. Changes to competition law since the early 1990s have strengthened competitive forces in many sectors of the economy, and proposed amendments to that law would further improve market surveillance. The changes in...

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