Hard Core Cartels

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Abstract:



On 25 March 1998 the OECD Council adopted its Recommendation concerning Effective Action against Hard Core Cartels. The Recommendation condemns hard core cartels -- price fixing, bid rigging (collusive tenders), output restrictions, and market division (or sharing) -- as the most egregious violations of competition law because they raise prices and restrict supply, thus making goods and services completely unavailable to some purchasers and unnecessarily expensive for others. In addition, they harm the global economy by distorting world trade, hampering innovation and economic growth, and creating inefficiency and waste. Since cartels operate in secret and may have activities in many different countries, effective action against them often requires international co-operation. In addition to urging more effective unilateral and co-operative action against such cartels, the Recommendation directs the Committee on Competition Law and Policy to review its implementation and to report within two years on any further action needed to improve co-operation. The following report responds to that directive.

Page Count: 56

Document Type: Review Article

Publication date: June 1, 2000

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