Abstract/Summary

A cartel is an association of independent businesses for the purposes of regulating trade in an industry. There are three important reasons for studying international cartels: they will become important in the future; they are of immense historical significance; and they are poorly understood. This paper reviews the economics, political, and historical literature on international cartels and considers the lessons for international business theory and policy. If IB studies is to retain is reputation for policy-relevance it must engage with the issue of institutional responses to globalisation, and this must include the analysis of cartels.