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Organized Crime and Foreign Direct Investment: the Italian Case

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Author Info
Vittorio, Daniele
Ugo , Marani

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Abstract

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 a provincial level is quantified through several indicators, based on data for different kinds of crimes: extortion; association for criminal purposes, including mafia (Art. 416 and 416 bis of the Italian Penal Code); attacks; arson. 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. Our results show that the extent of extortion and the number of persons denounced for "criminal association" are significantly and negatively correlated with FDI inflows. Finally, our analysis suggests the presence of organized crime is a strong disincentive for foreign investors, particularly in the less developed Italian provinces.

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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 7127.

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Date of creation: 30 Jan 2008
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Handle: RePEc:pra:mprapa:7127

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Related research
Keywords: FDI determinants Italy: Mezzogiorno crime regional attractiveness

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Find related papers by JEL classification:
R30 - Urban, Rural, and Regional Economics - - Production Analysis and Firm Location - - - General
F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
R39 - Urban, Rural, and Regional Economics - - Production Analysis and Firm Location - - - Other
R38 - Urban, Rural, and Regional Economics - - Production Analysis and Firm Location - - - Government Policies; Regulatory Policies

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    Other versions:
  2. Arellano, Manuel & Bond, Stephen, 1991. "Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations," Review of Economic Studies, Blackwell Publishing, vol. 58(2), pages 277-97, April. [Downloadable!] (restricted)
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  5. George Agiomirgianakis & Dimitrios Asteriou & Kalliroi Papathoma, 2003. "The Determinants of Foreign Direct Investment: A Panel Data Study for the OECD Countries," City University Economics Discussion Papers 03/06, Department of Economics, City University, London. [Downloadable!]
  6. Crozet, M. & Mayer, T. & Micchielli, J.L., 2000. "How Do Firms Agglomerate? A Study of FDI in France?," Papers 2000.50, Paris I - Economie Mathematique et Applications.
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  7. Busse, Matthias & Hefeker, Carsten, 2007. "Political risk, institutions and foreign direct investment," European Journal of Political Economy, Elsevier, vol. 23(2), pages 397-415, June. [Downloadable!] (restricted)
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    Other versions:
  11. Koenker, Roger W & Bassett, Gilbert, Jr, 1978. "Regression Quantiles," Econometrica, Econometric Society, vol. 46(1), pages 33-50, January. [Downloadable!] (restricted)
  12. Devereux, Michael P. & Griffith, Rachel, 2003. "The Impact of Corporate Taxation on the Location of Capital: A Review," Economic Analysis and Policy (EAP), Queensland University of Technology (QUT), School of Economics and Finance, vol. 33(2), pages 275-292, September. [Downloadable!]
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