This research compares the governmental policy antitrust policy of the Federal Republic of Germany (FRG), or West Germany, Japan, and the United States (US), with a view toward assessing the impact of the various national policies on trends in international trade. Antitrust policy is a component an a country's industrial policy. Thus, the concept of an industrial policy, together with the approach of each of the three countries toward the development and application of an industrial policy, must be considered, before their approaches to antitrust are considered.
An industrial policy attempts to provide an economic environment which either (1) supports industrial development generally, or (2) promotes the development of specific industries or sectors of an economy (United States Department of Commerce, 1986). Such a policy might include (1) tax incentives to support either investment or exports, (2) subsidies direct or indirectto industrial firms or industries, (3) protection against foreign competition, (4) worker training programs, (5) fundingfull or participatingfor research and development, (6) grants and loans to support (a) regional
1 2development, (b) the development of specific industries, or (c) small business, (7) export financing, (8) loans and loan underwriting to support (a) exports, (b) specific sectors of a domestic economy, or (c) specific firms, (9) price supports, (10) antitrust, and (11) related policies (Bannock, 1990). An industrial policy involves cooperation between government, industry, unions, and academic research centers, in order to create an environment conducive to economic growth, prepare industry for the future, and insure that domestic enterprises can compete effectively internationally (Wilson, 1985).
Both the FRG and Japan openly acknowledge that they develop and implement industrial policy (Wilson, 1985). The FRG industrial policy is freemarket in character; how...