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Type | Working Paper |
Scope | Discipline-based scholarship |
Title | Revealing “Mafia Inc.”? Financial Crisis, Organized Crime, and the Birth of New Enterprises |
Organization Unit | |
Authors |
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Language |
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Institution | University of Zurich |
Series Name | Working paper series / Department of Economics |
Number | 251 |
ISSN | 1664-7041 |
Number of Pages | 66 |
Date | 2019 |
Abstract Text | We study the investment of organized crime in the legal economy. By using the shock induced on the Italian credit market by the 2007 subprime mortgage crisis, we document how provinces with a high organized crime presence have been impacted less by the crisis in terms of the establishment of new enterprises than provinces with a lower criminal infiltration. We provide evidence that the lower impact of the crisis is consistent with the presence of investments by organized crime in the legal economy. We corroborate this interpretation by comparing our results with the characterization made by the judicial authority of such investments and ruling out possible alternative explanations. |
Other Identification Number | merlin-id:14786 |
PDF File | Download from ZORA |
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Keywords | Mafia, organized crime, established enterprises, crisis, Finanzkrise, Mafia, Organisiertes Verbrechen, Kreditgewährung, Unternehmensgründung |
Additional Information | Revised version ; Former title: "Mafia Inc.": when godfathers become entrepreneurs |