A legal instrumentalism lens: Examining the “non-intervention” phenomenon in merger control under Thai competition law

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Abstract

Thailand’s Trade Competition Act (TCA), enacted in 1999, has been in effect for 26 years without prohibiting mergers and acquisitions (M&A) transactions, raising questions about its effectiveness in merger control. Existing research primarily attributes TCA’s ineffectiveness to political factors, such as interference and lobbying by large capital groups, but offers limited analysis from a legal instrumentalism perspective. This study addresses this gap by examining why Thailand has yet to see any prohibited M&A transactions through the lens of legal instrumentalism. This study employed a mixed research methodology combining doctrinal legal research and the case study method. Doctrinal analysis is used to examine the legal principles, regulations, and interpretations related to merger control in Thailand, while selected cases are employed to demonstrate the ineffectiveness of the enforcement of Thailand’s merger control. The main research findings include: 1) the TCA is used more as a tool to promote economic growth than to safeguard market competition; 2) ambiguities in the substantive review standards create space for legal instrumentalism, while political interference within law enforcement agencies further influences the application of the law. This study also provides corresponding suggestions.

Keywords: Thailand, Merger Control, Legal Instrumentalism, Non-Intervention

Authors’ individual contribution: Conceptualization — N.J.; Methodology — N.J.; Writing — Original Draft — N.J.; Writing — Review & Editing — P.W.; Supervision — P.W.

Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

JEL Classification: K21

Received: 03.12.2025
Revised: 03.02.2026; 16.02.2026; 20.03.2026
Accepted: 06.04.2026
Published online: 09.04.2026

How to cite this paper: Jiang, N., & Wisuttisak, P. (2026). A legal instrumentalism lens: Examining the “non-intervention” phenomenon in merger control under Thai competition law. Corporate Law & Governance Review, 8(2), 111–120. https://doi.org/10.22495/clgrv8i2p10