By R. S. Khemani, World Bank, Organisation for Economic Co-operation and Development

A dynamic and aggressive atmosphere, underpinned by way of festival legislations coverage, is an important attribute of winning industry economies. to fulfill the turning out to be call for for info on present methods and practices in festival legislations coverage, the undertaking "Framework for the layout and Implementation of festival Law-Policy" used to be initiated through the area financial institution, with participation through OECD. This resulting quantity displays the most concerns that come up in layout and implementation of pageant legislation and coverage with a purpose to help international locations in constructing an technique that fits their very own wishes and stipulations. The perspectives articulated during this book recommend that the management and enforcement of festival legislation coverage should still assign the best value to fostering financial potency and customer welfare.

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S. Department of Justice. She has worked on a wide variety of civil, criminal, and regulatory matters with special emphasis on intellectual property licensing, joint ventures, vertical agreements, and trade association activity. She has lectured extensively at numerous international competition policy seminars and has been resident adviser to the Czech and Slovak competition offices. BERNARD PHILLIPS Bernard Phillips is head of the Competition Law and Policy Division of the Organisation for Economic Co-operation and Development.

Additionally, questions arise as to what constitutes equitable distribution of the gains from trade between sellers, or between producers and consumers. A spectrum of views has been expressed in this regard. Broadly speaking, the two ends of the spectrum can be described in terms of economic and noneconomic-or efficiency and public interest-approaches to competition policy. At one end is the view that the sole purpose of competition policy is to maximize economic efficiency. Under this view there is no room for sociopolitical criteria such as fairness and equity in the administration of competition policy.

In Canada the preamble of the Competition Act states that its purpose is to maintain and encourage competition in order to promote efficiency. However, the importance that many of these countries attach to efficiency does not imply the exclusion of other objectives of competition policy. Page 4 Supplementary Objectives of Competition Policy In response to sociopolitical concerns various objectives of competition policy other than economic efficiency and enhanced consumer welfare have been identified.

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