Out of the Darkness: Re-Allocation of Confiscated Real Estate Mafia Assets

Filippo Boeri, Marco Di Cataldo, Elisabetta Pietrostefani
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引用次数: 2

Abstract

In an effort to tackle criminal groups, the Italian State allows the confiscation of properties belonging to individuals convicted for mafia-related crimes and their reallocation to a new use. This policy is considered both as an anti-mafia measure and as a way to partially compensate the society for the harm made by the criminal organisations. Whether and how this measure has had an impact on the local areas where it is implemented, however, has not yet been investigated. We test the hypothesis that the policy contributes to the regeneration of urban spaces by assessing its impact on the value of buildings in the vicinity of confiscated/re-allocated properties. To this aim, we perform difference-in-differences analyses, both at the level of local housing markets and at the level of individual buildings, investigating the externalities of the policy across the whole Italian territory. The results unveil a positive and significant effect of re-allocations of confiscated real estate assets on house prices, declining with distance from the re-allocation site. The impact is larger in cities with stronger mafia presence and in more deprived neighbourhoods. This suggests that the policy contributes to add value to the territory where it is applied and favours processes of urban revitalisation. These findings have important implications for the development of deprived urban areas characterised by a strong presence of criminal organisations.
走出黑暗:重新分配没收的房地产黑手党资产
为了对付犯罪集团,意大利国家允许没收犯有与黑手党有关罪行的个人的财产,并将其重新分配给新的用途。这项政策被认为是一项打击黑手党的措施,也是对犯罪组织造成的危害进行部分补偿的一种方式。然而,尚未调查这项措施是否以及如何对实施该措施的地方产生影响。我们通过评估该政策对被没收/重新分配物业附近建筑物价值的影响,来检验该政策有助于城市空间再生的假设。为此,我们在当地住房市场层面和个别建筑层面进行了差异分析,调查了整个意大利领土上政策的外部性。结果表明,被没收房地产资产的再分配对房价有显著的正向影响,随着距离再分配地点的距离而下降。在黑手党势力更强的城市和更贫困的社区,这种影响更大。这表明,该政策有助于为实施该政策的地区增加价值,并有利于城市振兴进程。这些发现对以犯罪组织猖獗为特征的贫困城市地区的发展具有重要意义。
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