Competitive markets are the foundation of capitalist economies and have traditionally been at the core of EBRD’s work. In the 21st century, technological progress and globalisation have brought about a new definition of markets and of competitiveness.
First, the qualitative change in the speed of innovation has transformed the very nature of competition. Production technologies and management practices have become easy to replicate.
Second, rapid change results in faster entry and exit and thus in a substantially shorter lifecycle for companies.
Third, reduced barriers to trade and network effects result in unprecedented economies of scale. Companies fiercely compete at the research and development (R&D) and innovation stage but, once the product is designed, the stronger competitor becomes an undisputed monopolist.
This discussion will explore the new nature of competition and how it has forced regulators to rethink the definitions of market boundaries, as well as the rules and incentives for innovation and competition.
Learn more about the Competitive Quality.
Chief Economist, EBRD
Deputy Director, Bruegel
Executive Director, Financial Markets Group, London School of Economics
Chief Executive Officer, Sberbank
Vice President CCG, General Manager, Intel Israel
Maria DemertzisDeputy Director, Bruegel
Maria Demertzis is Deputy Director at Bruegel and a visiting professor at the University of Amsterdam. She has previously worked at the European Commission and the research department of the Dutch Central Bank. She has also held academic positions at the Harvard Kennedy School of Government in the USA and the University of Strathclyde in the UK, from where she holds a PhD in economics. She has published extensively in international academic journals and contributed regular policy inputs to both the European Commission's and the Dutch Central Bank's policy outlets.
Simeon DjankovExecutive Director, Financial Markets Group, London School of Economics
Simeon Djankov is director of the Financial Markets Group at the London School of Economics and a senior fellow at the Peterson Institute for International Economics. Previously he was deputy prime minister and minister of finance of Bulgaria from 2009 to 2013, rector of the New Economic School in Russia from 2013 to 2015, and chairman of the Board of the European Bank for Reconstruction and Development in 2012-13. Prior to his cabinet appointment, Djankov was chief economist of the finance and private sector vice presidency of the World Bank. He is the founder of the World Bank's Doing Business project. Simeon Djankov obtained his doctorate in economics in 1997 from the University of Michigan at Ann Arbor.
Herman GrefChief Executive Officer, Sberbank
Russian economist and politician. Herman Gref led the development and implementation of a number of successful economic reforms aimed at modernization and implementation of new governance standards and technologies. Starting from 2007, he has served as a CEO and Chairman of the Executive Board of Sberbank. In 2000-2007, he was the Minister of Economic Development and Trade of the Russian Federation. In 1998-2000, he held the post of the First Deputy Minister of State Property of the Russian Federation. In 1991-1998 Mr Gref served in municipal authorities of St. Petersburg, where he was appointed Vice Governor. Herman Gref graduated from Omsk State University with a degree in law and later completed his postgraduate studies in the Law department at the St. Petersburg State University. Candidate of Economic Sciences (PhD in Economics). He is an author of a number of scientific papers.
Sergei GurievChief Economist, EBRD
Sergei Guriev joined EBRD in 2016 after running the New Economic School in Moscow in 2004-13 and serving as a tenured professor of economics at Sciences Po, Paris in 2013-16. Dr.Guriev’s research interests include contract theory, corporate governance, political economics and labor mobility. He has published in international refereed journals including American Economic Review, Review of Economic Studies, Journal of European Economic Association, Economic Journal, Journal of Economic Perspectives and American Political Science Review. He has been a board member of Sberbank, E.ON Russia, Alfa-Strakhovanie Insurance Company, Russia Venture Company, Russian Home Mortgage Lending Agency, Russian Agricultural Bank, and the Dynasty Foundation. He is also President of the Society for Institutional and Organizational Economics, and Research Fellow at the Centre for Economic Policy Research, London.
Ran SenderovitzVice President CCG, General Manager, Intel Israel
Ran Senderovitz is the Vice President in CHD Connected Home Division, general manager of the Wireless and Consumer/Commercial Infrastructure business. He is also the General Manager of Intel Israel development Center (IDC), in charge of IDC day to day execution, strategy development and readiness for future challenges across multiple sites and over 7000 employees. Based in Israel, he joined Intel in 2011 with the acquisition of the cable modem product line from Texas Instruments. Before taking his current position at Intel, he served as director of cable gateway products, managed the Service Provider and Product Marketing office and then became General Manager of the Service Provider Division. He led the acquisition and integration of Lantiq into CHD, and upon completing this process, assumed his current role. He started his engineering career in 1992 and joined Texas Instruments in 1999, serving in various business and engineering management roles over the course of 12 years.