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Criminalità e investimenti esteri. Un’analisi per le province italiane

Daniele, Vittorio and Marani, Ugo (2007): Criminalità e investimenti esteri. Un’analisi per le province italiane.

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The paper estimates the effects of organized crime on FDI inflows in 103 Italian Provinces in the period 2004-06. The presence of organized crime at provincial level is quantified through several indicators, based on data for different kinds of crimes: extortions; criminal association, included mafia (art. 416 and 416 bis Italian Penal Code); attempts; crime of arsons. Several control variables are used, included a proxy for (financial) investment incentives provided by public sectors. Estimation suggests that FDI inflows are influenced by different variables. Results show as the number of extortions and the number of persons denounced for "crime association" are significantly and negatively correlated with FDI inflows. Finally, our analysis suggests the presence of organized crime as a strong disincentive for foreign investors, particularly in the less developed Italian provinces.

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