Economic Crisis, crime and firm financial constraints
Journal title ARGOMENTI
Author/s Ilario Favaretto, Germana Giombini
Publishing Year 2011 Issue 2011/31 Language Italian
Pages 34 P. 107-140 File size 642 KB
DOI 10.3280/ARG2011-031004
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In the period of the most harmful economic crisis since the Great Depression, the article aims at shedding light on the issue of the presence of organized crime into legal economy by empirically analyzing a sample of firms located in Italy, in the province of Pesaro and Urbino. The economic crisis, indeed, could increase the presence of organized crime by increasing both institutional and firm fragility; by exacerbating firm financial difficulties and credit constraint, and generating a sort of "anomia" i.e. a kind of moral justification to firm decision to operate into the black economy or to recur to illegal source of funds to survive.
Keywords: Crime, financial development, credit markets, banks
Jel codes: G01, G21, O17
Ilario Favaretto, Germana Giombini, Crisi economica, criminalità e vincoli di liquidità delle imprese in "ARGOMENTI" 31/2011, pp 107-140, DOI: 10.3280/ARG2011-031004