Price Regulation and Excessive Pricing in Times of Crisis – A View From South Africa
To discuss the key economic issues for assessing excessive pricing cases during the COVID-19 pandemic, FTI Consulting's Nicola Theron joined panelists Prof. Massimo Motta (ICREA Research Professor at Universitat Pompeu Fabra and the Barcelona Graduate School of Economics); Mr. James Hodge (Chief Economist, Competition Commission of South Africa); and Ms. Pamela Mondliwa (Senior Researcher, Centre for Competition, Regulation and Economic Development, University of Johannesburg); as well as the host Dr. Reena das Nair (Senior Researcher, Centre for Competition, Regulation and Economic Development and Senior Lecturer, University of Johannesburg).
The regulation of prices using competition law is unusual, but arguably necessary in a time of crisis. But what constitutes an excessive price under distorted market conditions, and how should dominance and market power be considered?
South Africa’s approach to dealing with the excessive pricing of essential goods and services during the State of National Disaster is novel and has drawn widespread local and international interest.