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By Kenji Suzuki

As marketplace pageant replaces kingdom legislation in lots of fiscal fields, festival coverage has turn into a space of accelerating importance. by contrast heritage, Suzuki highlights the significance of the family political constitution for pageant coverage. He does this in the course of the comparative research of pageant legislations reforms in Britain and Japan. He argues - controversially - country's family political constitution might be thought of a significant factor in inflicting the reform of pageant legislation, and rejects the demonstrated view that it truly is unavoidably due to the adjustments in overseas fiscal and political stipulations.

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Extra info for Competition Law Reform in Britain and Japan: Comparative Analysis of Policy Network (European Institute of Japanese Studies East Asian Economics and Business Studies Series)

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5 per cent. 6 per cent) compared with other industrialised countries. Under those circumstances, Japanese businesses were unlikely to be as strongly influenced by the pro-competitive attitudes of foreign-owned businesses as British businesses were by foreign manufacturers. It is also worthwhile to take account of the ‘long-termism’ of Japanese business in order to understand its inclination for inter-firm cooperation. In a study of troubled industries in Japan, Uriu explained the ‘long-termism’ of Japanese businesses as follows: they have tried whenever possible to ‘manage competition’ domestically, either in the short term through cartelization or over the long term through collective cutbacks in capacity.

After they acquired public factories at unfairly low prices thanks to their special government connection, they Early history and 1970s innovation 19 formed enormous industrial conglomerates in which several family-owned stockholding companies controlled a variety of businesses hierarchically. The economic expansionism of zaibatsu was regarded as one of the most important causes of the Pacific War. Furthermore, traditional cartel-based trade associations had made it easy for the government to establish totalitarian regulations during the War.

Business preferences for inter-firm collusion and industrial concentration British businesses’ attitude towards inter-firm collusion Reflecting the traditional lenience of common-law doctrines concerning restrictive practices (see Chapter 2), British businesses had no qualms about inter-firm collusion, at least before the Second World War. In order to avoid painful market competition, many businesses were engaged in cartels and/or other restrictive practices, often through trade associations. In the interwar period, the government abandoned free trade policy and imposed protective duties as well as quantitative import control, and this facilitated such inter-firm collusion under the name of ‘rationalisation’.

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