Cooperative Capitalism
Self-Regulation, Trade Associations, and the Antimonopoly Law in Japan
Series: Japan Business and Economics Series;
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Product details:
- Publisher OUP Oxford
- Date of Publication 29 June 2000
- ISBN 9780198297185
- Binding Hardback
- No. of pages314 pages
- Size 242x163x22 mm
- Weight 618 g
- Language English
- Illustrations line drawings, tables 0
Categories
Short description:
Japan's industries are increasingly assuming regulatory functions through autonomous 'self-regulation'. They set and enforce trade rules through their trade associations, thus governing their own markets. Antitrust enforcement cannot halt this trend. Based on interviews and detailed data analysis of trade association activities, this book concludes that increasing self-regulation renders deregulation programmes and international trade negotiations ineffective, leaving many Japanese markets closed to international competitors.
MoreLong description:
The Japanese government is becoming less involved in shaping industrial policy–but what does this imply for the openness of Japanese markets to foreign competition? In an extensive study of 'post-development' Japan, Ulrike Schaede argues that, contrary to what many have suggested, the reduced role of government regulation may not result in more open markets. Instead, as has happened throughout Japanese history, deregulation and the recession of the 1990s have once again led Japanese trade associations to assume important regulatory functions of their own. They do this through 'self-regulation'–setting and enforcing the rules of trade for their industries, independent from the government. As a result, many Japanese markets are now effectively governed by incumbent firms, in particular in terms of structuring the distribution system. As the record of postwar antitrust enforcement reveals, Japan's antitrust system considers most activities of self-regulation, other than outright price-fixing, as legal. Using interviews and a unique database of trade association activities, this book concludes that increasing self-regulation renders both government deregulation programmes and international trade negotiations ineffective in opening Japanese markets. The implications of self-regulation for Japanese industry are mixed: while internationally competitive firms can use self-regulation to reduce competition at home in order to compete more forcefully abroad, some domestic industries, such as the financial sector, may suffer from increased self-protection.
MoreTable of Contents:
Introduction
Japanese Trade Associations
Antitrust Policy and Industrial Policy in the Postwar Period
Self-Regulation and the Antimonopoly Law
The Evidence: Antitrust Enforcement and Self-Regulation in Postwar Japan
Data Analysis: Trade Associations and Self-Regulation
The Historical Development of Self-Regulation in Japan's Trade Associations
The Implications
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