The Economic Effects of Mafia: Firm Level Evidence

IF 10.5 1区经济学 Q1 ECONOMICS

American Economic Review Pub Date : 2022-08-01 DOI:10.1257/aer.20201015

Litterio Mirenda, S. Mocetti, L. Rizzica

引用次数: 15

Abstract

We analyze the effects of Mafia infiltration in the legal economy. Combining information from investigative records with panel data on firms’ governance and balance sheets, we build an indicator of infiltration in firms located in an area with no tradition of Mafia. We show that Mafia targets young and less efficient firms and that infiltration generates a significant rise in firms’ revenues, with no proportionate growth in production inputs and a deterioration of the firm’s financial situation leading to market exit. These findings are consistent with a story of predatory behavior in which infiltration is used for money laundering or rent extraction. (JEL D22, G32, G34, K42, L25)

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黑手党的经济效应:公司层面的证据

我们分析了黑手党渗透对合法经济的影响。将调查记录信息与公司治理和资产负债表的面板数据相结合，我们建立了一个指标，表明位于没有黑手党传统的地区的公司的渗透情况。我们表明，黑手党的目标是年轻和效率较低的企业，渗透使企业收入显著增加，而生产投入没有成比例的增长，企业财务状况的恶化导致市场退出。这些发现与掠夺性行为的故事是一致的，其中渗透被用来洗钱或榨取租金。(jel d22, g32, g34, k42, l25)

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

American Economic Review ECONOMICS-

CiteScore

18.60

自引率

2.80%

发文量

122

期刊介绍： The American Economic Review (AER) stands as a prestigious general-interest economics journal. Founded in 1911, it holds the distinction of being one of the nation's oldest and most esteemed scholarly journals in economics. With a commitment to academic excellence, the AER releases 12 issues annually, featuring articles that span a wide spectrum of economic topics.