The Dodd-Frank Act’s Persistent Effect on Violence in the Democratic Republic of Congo

The 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act sought to enhance peace and security in the Democratic Republic of Congo (DRC) by introducing, beginning in 2014, disclosure and reporting requirements for firms utilizing conflict minerals. Despite its policy ambitions, the Act’s long-run impacts remain insufficiently understood, as prior studies either concentrate on the pre-2016 period or lack an appropriate pre-treatment comparison. This study estimates the effects of the Dodd-Frank Act through 2022, while addressing potential endogeneity associated with mining operations and survey team visits, as well as confounding influences from improvements in data collection. The analysis reveals that the Act did not reduce violence in the DRC; rather, it contributed to the geographic diffusion of conflict across territories with gold mines. In contrast, no measurable effects are observed on the incidence or intensity of violence in territories containing “3T” mines—the other minerals targeted by the Act. These heterogeneous effects likely reflect strategic shifts among armed groups, who increasingly contested control over gold mines owing to gold’s portability and limited traceability.