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Economic crisis and crime: Money under the mattress during financial destabilization

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  • Kyrkopoulou, Eleni
  • Louka, Alexandros
  • Fabbe, Kristin

Abstract

The paper investigates the effect of a (semi-) deposit run during a debt crisis on crime rates. The study focuses on Greece’s protracted debt crisis (2009–2018) and analyzes the response of crime to deposit outflows. It shows that deposit outflows corresponded to a significant increase in property crimes (thefts and burglaries), but not other types of offenses. The study provides useful policy insights for regulatory authorities tasked with monitoring and decreasing the criminogenic effects of financial destabilization

Suggested Citation

  • Kyrkopoulou, Eleni & Louka, Alexandros & Fabbe, Kristin, 2024. "Economic crisis and crime: Money under the mattress during financial destabilization," Journal of Policy Modeling, Elsevier, vol. 46(3), pages 514-529.
  • Handle: RePEc:eee:jpolmo:v:46:y:2024:i:3:p:514-529
    DOI: 10.1016/j.jpolmod.2024.02.003
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    More about this item

    Keywords

    Crime rate; Greece; Crisis; Bank deposits; Property crime;
    All these keywords.

    JEL classification:

    • K42 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - Illegal Behavior and the Enforcement of Law

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