The optimal degree of competition and dynamic efficiency in Japan and Korea
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.
|Date of creation:||12 Dec 1993|
|Date of revision:|
|Publication status:||Published in European Economic Review 3/4.38(1994): pp. 940-951|
|Contact details of provider:|| Postal: Ludwigstraße 33, D-80539 Munich, Germany|
Web page: https://mpra.ub.uni-muenchen.de
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- Singh, Ajit, 1989. "Third World Competition and De-industrialisation in Advanced Countries," Cambridge Journal of Economics, Oxford University Press, vol. 13(1), pages 103-20, March.
- Telser,Lester G., 1987. "A Theory of Efficient Cooperation and Competition," Cambridge Books, Cambridge University Press, number 9780521306195, November.
- Scherer, F M, 1992. "Schumpeter and Plausible Capitalism," Journal of Economic Literature, American Economic Association, vol. 30(3), pages 1416-33, September.
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