Market Studies (IM for its acronym in Spanish) are a particular type of procedure - whose instruction is among the main powers of the National Commission for the Defence of Competition - and whose central objective is to promote competition. In pursuit of this more general purpose, an elementary objective is to obtain a diagnosis of the competitive conditions under which certain markets and sectors of the economy operate. In this sense, an IM can be effective in identifying regulatory restrictions to competition, as a means of targeting market players to modify existing practices or to prevent the emergence of potentially harmful practices, and to enhance the agency's knowledge of a specific sector that may be useful for the analysis of future cases.
These guidelines describe the general procedure followed by the CNDC to carry out the IM. For their elaboration, the National Directorate for the Promotion of Competition, the area in charge of this type of procedures, may resort to public information, the CNDC's own background, as well as request information from the different agents operating in the market -through written requests for information or testimonial hearings- in order to have a deeper understanding of the sector under analysis.
IMs conclude with the publication of a report setting out the results of the analysis carried out, its conclusions and, where appropriate, proposed recommendations, which may include pro-competitive recommendations in case the possibility of improving market competition conditions through regulatory or other public policy changes is identified, or the recommendation to open a new IM or to commission a market study to an external consultant, as well as the recommendation to open new proceedings aimed at determining the existence of anti-competitive conduct, in case there are hints of anti-competitive conduct.