Internalising Antitrust: The Evolution of Competition Policy in Europe and Japan

Abstract

Crises are not the unique determinant of institutional changes. For instance the current recession has not manifested any modification of the institutional antitrust setting yet. However, crises are likely to favour political economic answers in the form of market and antitrust reforms. In this respect, the purpose of this chapter is firstly to illustrate whether and how American antitrust ideas have been influencing the development of competition policies in Europe and in Japan in the aftermath of the Great Depression, the Oil Crises. Secondly, the chapter aims at analysing the current situation in order to hypothesise possible institutional evolution.