Template-Type: ReDIF-Paper 1.0
Author-Name: Luigi Zingales
Author-X-Name-First: Luigi
Author-X-Name-Last: Zingales
Title: Regulating big tech
Abstract: Digital markets are global in nature and prone to "tipping". The combination of these two factors makes the distortions of the inevitable monopolies in these markets very large, but it also undermines any effort at dealing with these distortions at a national level. I argue that the problem can only be solved by structural interventions that restore conditions for competition. Yet, no national regulator will have the ability to do so. Regulation can only arise in an international context. Paradoxically, the increasing international tension can create political opportunities for such international regulation.
Creation-Date: 2022-12
File-URL: https://www.bis.org/publ/work1063.pdf
File-Format: Application/pdf
File-Function: Full PDF document
File-URL: https://www.bis.org/publ/work1063.htm
File-Format: text/html
Number: 1063
Keywords: Big tech, regulation, market power
Classification-JEL: L5, L86
Handle: RePEc:bis:biswps:1063