Shall we follow the money? Anti-mafia policies and electoral competition

Ferrante, Livio; Reito, Francesco; Spagano, Salvatore; Torrisi, Gianpiero

doi:10.1016/j.jpolmod.2021.03.010

Cited by 5 publications

(3 citation statements)

References 27 publications

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“…However, since criminal organizations act illegally and tend to hide their operations, we use an indirect measurement of mafia infiltration proxying its empirical manifestation by removing mafia firms from the market. Our research also adds to the recent literature on the impact of economic‐oriented antimafia policies (F. Calamunci & Drago, 2020; F. Calamunci et al, 2021; Ferrante, Fontana, et al, 2021; Ferrante, Reito, et al 2021; Operti, 2018). Although it is widely recognized that asset reallocation may be beneficial from a socioeconomic perspective (Esposito & Ricci, 2015), the economic literature has focused primarily on the assessment of antimafia measures with political or punitive content.…”

Section: Introductionsupporting

confidence: 54%

Closed for mafia: Evidence from the removal of mafia firms on commercial property values

Calamunci

Ferrante

Scebba

2022

Journal of Regional Science

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Using a sample of almost 7000 Italian municipalities from 2002 to 2019, we investigate how the removal of mafiainfiltrated firms affects commercial sale and rental prices.We conjecture that targeting mafia businesses leads to a reduction in local disamenities and an increase in the demand for commercial properties. Applying the latest methodologies based on difference-in-differences approaches, we show that antimafia policies aimed at confiscating and reassigning mafia firms have positive spillover effects on commercial real estate prices, driving values upward by about 4%. This is especially true for small-medium municipalities in mafia-ridden provinces.

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Section: Introductionsupporting

confidence: 54%

Closed for mafia: Evidence from the removal of mafia firms on commercial property values

Calamunci

Ferrante

Scebba

2022

Journal of Regional Science

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“…In the context of follow the money disclosure of assets that are suspected of proceeds of crime, it is necessary to have asset tracing which is defined as an effort to search, trace assets with various efforts so that their whereabouts can be found, where ownership is identified, researched and the truth confirmed, so that it can be instructions or references for further legal steps to be taken so that they can be restored or returned to the state (Ferrante et al, 2021).…”

Section: Legal System In Returning Assets Proceeds Of Corruption Crimesmentioning

confidence: 99%

Implementation of Follow the Money in Eradicating Corruption and Money Laundering

Joeroy,

N. Sally,

Wiratno

2023

ijsh

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This study aims to identify and analyze the implementation of follow the money in eradicating corruption and money laundering in order to recover state financial losses. This research is normative research, this research was carried out by examining library materials in the form of primary, secondary, and tertiary legal materials, with an empirical-analytical approach, which uses concrete cases to become research objects, and uses relevant theories. The follow the money policy in eradicating corruption and money laundering in Indonesia has not been effective enough in returning assets that have been confiscated and has resulted in losses to state finances. Therefore, it is necessary to strengthen the system for returning assets resulting from acts of corruption with the Asset Recovery Bill, increasing FINTRAC capacity, strengthening asset confiscation, and cooperation between countries to track assets resulting from crimes abroad and maximize returns through Mutual Legal Assistance. The future policy direction is to strengthen the system for recovering assets and confiscating assets through conviction-based forfeiture and non-conviction-based forfeiture, as well as civil lawsuits. In the Indonesian legal system, the follow the money policy is very important to overcome corruption and money laundering. However, the return on assets is still not optimal. Therefore, the Bill on Asset Recovery and the Bill on Cash Payments as well as the application of Articles 18 and 37 of the Corruption Law are needed to confiscate the proceeds of crime through criminal compensation

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“…The authors however do not consider the different types of reassignment uses, and the potential influence of DC policies. The two papers Ferrante, Fontana et al (2021a) and Ferrante, Reito, et al (2021b), on the other hand, consider both DC and SR policies and argue that only the latter has a positive impact on the degree of competition, respectively, in the construction industry and in electoral outcomes. Other types of antimafia measures have been introduced in Italy over the years.…”

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confidence: 99%

Mafia doesn't live here anymore: Antimafia policies and housing prices

Calamunci

Ferrante

Scebba

et al. 2023

Journal of Regional Science

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It is well known that the value of a house depends both on the physical characteristics and on some features of the neighborhood in which it is located. If so, organized‐crime activities can significantly affect urban real estate values. Antimafia policies, in turn, can be intended as a tool to influence those external features. This paper compares the effects on real estate values of the two main antimafia policies implemented in Italy since the 1990s at the municipal level. While we do not find any significant effect of dismissal policies on house prices, we find a statistically significant effect of reassignment policies depending on the specific destination of confiscated property.

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Shall we follow the money? Anti-mafia policies and electoral competition

Cited by 5 publications

References 27 publications

Closed for mafia: Evidence from the removal of mafia firms on commercial property values

Closed for mafia: Evidence from the removal of mafia firms on commercial property values

Implementation of Follow the Money in Eradicating Corruption and Money Laundering

Mafia doesn't live here anymore: Antimafia policies and housing prices

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