1 Basic Premise and Classification of Developing Countries
This chapter argues that there is no one universal approach to competition law and that the design and enforcement of competition law needs to take into account the political, economic, and social circumstances of the country. Given the overwhelming obstacles to attaining economic growth and development, economic policies in a developing country must be tailored to maximize the prospect of growth and development. This means that competition law enforcement should aim to promote growth and meet development needs, even if this may lead to conflict with other objectives of competition law such as the protection of consumer welfare and the pursuit of economic efficiency. Moreover, the various classifications of developing countries suggest that there is significant diversity among them. Indeed, there are likely to be significant differences in terms of market conditions among developing countries. Thus, it is unlikely that there is a single approach to competition law enforcement suitable for all of them.