This volume reports the proceedings of a conference of highly qualified practitioners and theorists from East and West, dealing with competition and the important part it plays as an essential element of the market economic system. So far, in the countries of Central and East Europe and of the former USSR, privatisation of state enterprises has failed to bring about a more responsive, more competitive behaviour of these firms. It is recognised that various elements of competition - privatisation, breaking down of monopolies, trade liberalisation, strengthening of small- and medium-sized competitors; and institutional requirements - should be implemented simultaneously.