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Competition Policy vs. Industrial Policy as a Growth Strategy

Competition Policy vs. Industrial Policy as a Growth Strategy
Date:
3 April 2017
Authors:
Tatsuo Hatta
Tags:
Competitiveness, Industry

Print Article:

This paper examines the rationale behind industrial policy and competition policy as growth strategies, and shows that competition policy, rather than industrial policy, generated the rapid economic growth in post-war Japan. It also reveals that Japan's growth rate was lowered from the mid-1970s due to newly introduced industrial policies and paucity of further competition policy. The current Abe government recognises the need for competition policies in Japan to recover from the low-growth period. The paper describes the types of competition policy carried out under Abenomics, especially in strategic special economic zones.

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