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The impact of the 2002 reform of the EU leniency program on cartel outcomes

Abstract : The objective of this study is to empirically assess whether the 2002 reform of the EU leniency program, which brought the EU leniency policy much closer to the US policy, has increased the European Commission’s capability to destabilize cartels while making prosecution more efficient. More specifically, relying on a difference-in-difference approach, we estimate the impact of the 2002 reform on cartel duration, fines before and after applying leniency reductions and duration of investigation. We find that the 2002 reform decreased cartel duration by about 87 percent, but did not significantly affect the other outcome variables. Thus, our findings seem to suggest that the 2002 reform has improved the cartel-destabilizing effect of the EU leniency program, without enhancing however its effectiveness in prosecuting cartels.
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https://hal.archives-ouvertes.fr/hal-03131313
Contributor : Isabelle Celet Connect in order to contact the contributor
Submitted on : Thursday, February 4, 2021 - 11:40:40 AM
Last modification on : Tuesday, January 4, 2022 - 5:56:35 AM

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Annabelle Jochem, Pierpaolo Parrotta, Giacomo Valletta. The impact of the 2002 reform of the EU leniency program on cartel outcomes. International Journal of Industrial Organization, Elsevier, 2020, 71, pp.102640. ⟨10.1016/j.ijindorg.2020.102640⟩. ⟨hal-03131313⟩

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