Cultural challenges to private antitrust enforcement in Latin AmericaClick here to read the full article online
Although in recent years there has been an effort from different Latin American countries in order to foster the implementation of private antitrust enforcement, the results have so far been extremely poor. In this paper, we analyse the cultural challenges that private antitrust enforcement faces in the region and how the predominant legal culture creates the different hurdles that challenge the evolution of private antitrust enforcement in Latin America. We first analyse how the legal culture generates various incentives or disincentives to encourage a given legal practice, and later we see how those who have to implement a given system (i.e. the judges), are reluctant to change the way their legal culture has indicated them to do so over time. In other words, we see how the legal system and its players reflect the cultural challenges to the evolution of private antitrust enforcement in Latin America.