Abstract
The Australian Government Offsets Program targets technology transfer as a means of upgrading the technological base of Australian industry. Government attempts to establish pre–conditions for trade in order that local firms participate in activities in which they would not have done so otherwise. This involvement of government creates a competition for the rents from technological superiority; this process shares the characteristics of an activist trade and industrial policy which has become topical of late and is canvassed as strategic trade policy. This paper presents a rationale for one variety of such policy, government–mandated countertrade, practised as offsets policy.
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