Green washing and government failure might be exacerbated. While collaboration and relaxing competition rules are often suggested as ways to accommodate a transition to the green economy, the authors argue that the evidence may not support this premise. As preeminent specialists in this area, Albert Menkveld (VU Amsterdam) and Guillaume Vuillemey (HEC Paris) discuss the precise role that CCPs play and insights from the extant literature that have developed, including regulatory implications.Ĭompetition issues associated with the green economy are analyzed by Maarten Pieter Schinkel (University of Amsterdam), a leading authority in antitrust and competition economics, and Leonard Treuren a post-doctoral researcher at KU Leuven. The CCPs are designed to insulate parties from this risk. can they deliver, or might they default on their promises) contributed to the crisis. Their (coming into) existence has a logic: the uncertainty in a world where investors are subject to counterparty risk (i.e. Central clearing counterparties (CCPs) have become mandatory for many interest-rate and credit derivatives following the 2007-09 financial crisis. One is related to the stability of the financial system, in particular the role of central clearing counterparties, the other deals with competition issues associated with the transition to a green economy and the use of algorithms.
With the 29th issue of the ACCF Topics in Corporate Finance series, the Amsterdam Center for Corporate Finance seeks to contribute to the public debate on two public policy issues that will play a key role in the years to come.
PERSPECTIVES ON Central Clearing and Competition Policy
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