Global Antitrust Prosecutions of Modern International Cartels
International cartelists face investigations and possible fines in a score of national and supranational jurisdictions, but the three with the most consistent legal responses to global cartels are the United States, Canada, and the European Union. This paper examines the antitrust fines and private penalties imposed on the participants of 167 international cartels discovered during 1990--2003. While more than U.S.$10 billion in penalties has been imposed, it is doubtful that such monetary sanctions can deter modern international cartels. The apparently large size of government fines is distorted by one overwhelming case. Moreover, deterrence is frustrated by the failure of compensatory private suits to take hold outside of North America and the near absence of fines in most Asian jurisdictions. Without significant increases in cartel detection, in the levels of expected fines or civil settlements, or expansion of the standing of buyers to seek compensation, international price fixing will remain rational business conduct.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 4 (2004)
Issue (Month): 3 (09)
|Contact details of provider:|| Web page: http://springer.com|
|Order Information:||Web: http://www.springer.com/economics/industrial+organization/journal/10842/PS2|
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Connor, John M., 2005. "Price-Fixing Overcharges: Legal And Economic Evidence," 2005 Annual meeting, July 24-27, Providence, RI 19254, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
- John M. Connor, 2003. "Private International Cartels: Effectiveness, Welfare, and Anticartel Enforcement," Working Papers 03-12, Purdue University, College of Agriculture, Department of Agricultural Economics.
- Margaret C. Levenstein & Valerie Y. Suslow, 2002. "What Determines Cartel Success?," UMASS Amherst Economics Working Papers 2002-01, University of Massachusetts Amherst, Department of Economics.