GLOBAL ANTITRUST PROSECUTIONS OF MODERN INTERNATIONAL strongCARTELSstrong.pdf

GLOBAL ANTITRUST PROSECUTIONS OF MODERN INTERNATIONAL CARTELS by John M. Connor Staff Paper #04-15 November 2004 Department of Agricultural Economics Purdue University Purdue University is committed to the policy that all persons shall have equal access to its programs and employment without regard to race, color, creed, religion, national origin, sex, age, marital status, disability, public assistance, veteran status, or sexual orientations. GLOBAL ANTITRUST PROSECUTIONS OF MODERN INTERNATIONAL CARTELS by John M. Connor Department of Agricultural Economics, Purdue University West Lafayette, Indiana 47907-2056 jconnor@ Staff Paper #04-15 November 2004 Abstract 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 EU. This paper examines the antitrust fines and private penalties imposed on the participants of 167 international cartels discovered during 1990-2003. While more than US$ 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