BigTech Companies: An Inclusive and Global Regulatory Framework is Needed
Efforts to monitor and regulate BigTech companies have been fragmented, both globally and across economic sectors. We advocate for a change in the regulatory paradigm to create a framework that will accommodate the different priorities of countries, support inter-jurisdictional coordination, and minimize the risk of regulatory fragmentation.
In this policy brief, we identify the main issues listed by regulators from developed and less developed countries and group them around three dimensions:
Capital access, which includes financial inclusion and financial stability.
Market structure, which includes market efficiency and antitrust regulation.
Consumer experience, which includes consumer welfare and data usage.
These classifications help reframe the policy discussion, showing how the issues are related and how they are, or will be, relevant for most countries, depending on their level of economic and infrastructure development.