We study the investment of organized crime in the legal economy. By using the shock induced on the Italian credit market by the 2007 subprime mortgage crisis, we document how provinces with a high organized crime presence have been impacted less by the crisis in terms of the establishment of new...

We study the investment of criminal organizations in the legal economy. We focus on Italy, a country historically plagued by a conspicuous presence of mafia-type organizations. By using the exogenous credit contraction imposed by the 2007 financial crisis we highlight how the consequences for...

Hetzer erkannte 2003 in "Tatort Finanzmarkt" (BA 12/03) kriminelle Machenschaften der Banken und ihre Fortentwicklung. Der kritische Experte wurde wegen abfälliger Bemerkungen über Innenminister Schily 2002 als Ministerialrat entlassen und arbeitet seitdem in leitender Funktion im Amt für...

The proposed Directive on criminal law sanctions against insider dealing and market manipulation (referred to as ‘market abuse') offers the first test case of the boundaries of the new criminal law competence provision of Article 83 (2) TFEU. The proposed Directive is accompanied by a proposal...

The purpose of this chapter is to explore the financial crisis through the lens of market construction and thereby investigate the EU's current strategies to tackle the financial crisis through measures taken to fight irregularities in the market. Before the entry into force of the Lisbon Treaty...

Emerging market economies were major beneficiaries of the economic boom before 2007. More recently, they have become victims of the global financial crisis. Their future development depends, to a large extent, on global economic prospects. Today the global economy and the European economy are...