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The optimal degree of competition and dynamic efficiency in Japan and Korea

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  • Amsden, Alice H.
  • Singh, Ajit

Abstract

This paper is concerned with the neglected role of competition policy in East Asian development. Michael Porter considers Japan's development to have benefitted from intense competition among firms. By contrast, Caves and Uekusa criticize MITI's role in creating recession cartels and entry barriers, which are thought to have resulted in allocative inefficiency. This paper argues that competition policy in both Japan and Korea was oriented towards creating dynamic efficiency (the highest long term productivity growth rate). It did so by measures, operating at both the industry and firm level, which sometimes restricted competition and sometimes encouraged it.
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Suggested Citation

  • Amsden, Alice H. & Singh, Ajit, 1994. "The optimal degree of competition and dynamic efficiency in Japan and Korea," European Economic Review, Elsevier, vol. 38(3-4), pages 941-951, April.
    • Handle: RePEc:eee:eecrev:v:38:y:1994:i:3-4:p:941-951
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    JEL classification:

    • L0 - Industrial Organization - - General
    • L4 - Industrial Organization - - Antitrust Issues and Policies
    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development

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