Historical development of competition laws in developed and developing countries

This paper attempts to highlight the historical development of Competition Laws with a view to gain insight into the underlying reasons that have led to development in the field as an important requirement for a competitive business environment in some developed and developing countries. The origin and goals of implementing major legislations during different periods of time in countries having well known established Competition Laws are discussed to give a picture of their importance and the reasons behind their implementation. What seems to encourage is that whilst the objectives of implementation diverge in many countries, the main objectives of competition laws however remains the maintenance of an efficient and effective competitive system with the aim to reduce anti-competitive behaviour and improve consumer welfare.