(November, 2001)
The aim of competition policy is to promote free and fair competition, to increase efficiency and productivity in the economy and promote enhanced consumer welfare. This paper provides an overview of the rationale and justification for having a competition regime, using the Australian experience as an example of how to implement and administer an effective competition regime. It endeavors to draw on some of the lessons learned in Australia that are relevant for any country developing its own competition regime and to highlight some specific lessons that Australia has learned that are of relevance to economies in transition.