The economics of crime and money laundering: Does anti-money laundering policy reduce crime?

Review of Law and Economics

Volumn 5, Issue 2, 2009, Pages 903-929

  Ferwerda, Joras ^a  

^a UTRECHT UNIVERSITY   (Netherlands)

Author keywords

Money laundering

Indexed keywords

EID: 73649093421     PISSN: 15555879     EISSN: 15555879     Source Type: Journal    
DOI: 10.2202/1555-5879.1421     Document Type: Article

References (36)

1. Arnone, M., and P.C. Padoan. 2006. "Anti-Money Laundering by International Institutions: A Very Preliminary Assessment," paper presented at the Conference 'Corralling the Economy of Crime and Money Laundering: A Challenge for Banks and International Institutions Into the 21st Century,' ECSPC and Research Center for International Economics (CIDEI), Rome, September 2006.
2. Becker, G.S. 1968. "Crime and Punishment: An Economic Approach," 76 Journal of Political Economy 169-217.
3. Bentham, J. [1788] 1843. "Principles of Penal Law," Works, Vol.1, p. 399 ff.
4. Bouckaert, B., and G. de Geest. 1992. Bibliography of Law and Economics. Kluwer Academic Publishers, Dordrecht.
5. Breusch, T.S., and A.R. Pagan. 1980. "The Lagrange Multiplier Test and its Applications to Model Specification in Econometrics," 47 Review of Economic Studies 239-253.
6. Camdessus, M. 1998. "Money Laundering: the Importance of International Countermeasures," Plenary Meeting of the FATF, Paris.
7. Central Bank of Cyprus. 2006. "Assessment Report on Cyprus' Measures and Systems for the Combating of Money Laundering and Terrorist Financing," Council of Europe, published on the website of Government of Cyprus: *www.cyprus.gov.cy.
8. DiIulio, Jr., J.J. 1996. "Help Wanted: Economists, Crime and Public Policy," 10(1) The Journal of Economic Perspectives 3-24.
9. Djankov, S., R. La Porta, F. Lopez-de-Silanez, and A. Shleifer. 2005. "The Law and Economics of Self-Dealing," NBER Working Paper No. 11883.
10. Duyne, P.C. van. 2003. "Money Laundering, Fears and Facts," in P.C. van Duyne, K. von Lampe, and J.L. Newell, eds. Criminal Finances and Organizing Crime in Europe. Nijmegen: Wolf Legal Publishers, 67-104.
11. Eide, E. 2000. "Economics of Criminal Behavior," in B. Bouckaert and G. De Geest, eds. Encyclopedia of Law and Economics, Vol.5, 345-389. Cheltenham: Edward Elgar.
12. FATF. 2002-2006. Financial Action Task Force on Money Laundering, the "Mutual Evaluation Reports on Anti-Money Laundering and Combating the Financing of Terrorism" of Australia (Oct 2005), Austria (Nov 2003), Belgium (Jan 2005)
13. Denmark (Mar 2006), France (Apr 2004), Germany (May 2003), Greece (May 2005), Ireland (July 2005), Italy (Apr 2005), Luxembourg (Nov 2003),Netherlands (Dec 2003), Norway (Jan 2005), Portugal (Mar 2006), Spain (Sep 2005), Sweden (Sep 2005), United Kingdom (Dec 2002) and United States of America (May 2006), published on the FATF website: *www.fatf-gafi.org.
14. FATF. 2003. "The Forty Recommendations," incorporating the amendments of 22 October 2004, published on the FATF website: *www.fatf-gafi.org.
15. Ferwerda, J., and Z.S. Bosma. 2007. "Measuring Compliance," paper prepared for the conference 'Tackling Money Laundering,' held at Utrecht University School of Economics, November 2nd-3rd, 2007.
16. Garoupa, N. 1997. "The Theory of Optimal Law Enforcement," 11 Journal of Economic Surveys 267-295.
17. Granger, C. 1969. "Investigating Causal Relations by Econometric Models and Crossspectral Methods," 37 Econometrica 424-438.
18. Hausman, J.A. 1978. "Specification Tests in Econometrics," 46 Econometrica 1251-1271.
19. Heston, A., R. Summers, and B. Aten. 2002. "Penn World Table," Version 6.1, Center for International Comparisons at the University of Pennsylvania (CICUP), Oct. 2002.
20. Levitt, S.D. 1997. "Using Electoral Cycles in Police Hiring to Estimate the Effect of Police on Crime," 87(3) American Economic Review 270-290.
21. - and T.J. Miles. 2007. "Empirical Study of Criminal Punishment," in A.M. Polinsky and S. Shavell, eds. Handbook of Law and Economics, 403-454. Elsevier.
22. Marvell, T., and C. Moody. 1996. "Specification Problems, Police Levels, and Crime Rates," 34 Criminology 609-646. (Pubitemid 126318090)
23. Masciandaro, D. 1999. "Money Laundering: The Economics of Regulation," 7 European Journal of Law and Economics 225-240.
24. and A. Portolano. 2002. "Terrorism and Organized Crime, Financial Regulation and Non Cooperative Countries: Inside the Black (List) Box," University of Lecce Economics Working Paper, No. 32/14.
25. Mookherjee, D. 1997. "The Economics of Enforcement," in A. Bose, M. Rakshit and A. Sinha, eds. Issues in Economic Theory and Policy, Essays in Honor of Tapas Majumdar. New Delhi: Oxford University Press, 202-249.
26. Mundlak, Y. 1978. "On the Pooling of Time Series and Cross Section Data," 46(1) Econometrica 69-85.
27. Polinsky, A.M., and S. Shavell. 2000. "The Economic Theory of Public Enforcement of Law," 38 Journal of Economic Literature 45-76.
28. - and-. 2007. "The Theory of Public Enforcement of Law," in A.M. Polinsky and S. Shavell, eds. Handbook of Law and Economics, 403-454. Elsevier.
29. Soares, R.R. 2004. "Development, Crime and Punishment: Accounting for the International Differences in Crime Rates," 73 Journal of Development Economics 155-184.
30. Spamann, H. 2009. "'Legal Origins' of Crime and Punishment," preliminary paper presented at the 19th Annual Meeting of the American Law and Economics Association, May 15-16, 2009, Panel VID.
31. Takáts, E. 2006. "A Theory of 'Crying Wolf ' : The Economics of Money Laundering Enforcement," paper presented at a workshop organized by Donato Masciandaro at Bocconi University, Milan, March 2006.
32. Unger, B. 2006. "The Amounts and Effects of Money Laundering," Dutch Ministry of Finance report, with the collaboration of G. Rawlings, M. Siegel, J. Ferwerda, W. de Kruijf, E.M. Busuioc and K. Wokke.
33. - and J. Ferwerda. 2008. "Regulating Money Laundering and Tax Havens: the Role of Blacklisting," prepared for the European Consortium for Political Research (ECPR) conference '(Re)Regulation in the Wake of Neoliberalism, Consequences of Three Decades of Privatization and Market Liberalization,' Panel: Naming and Shaming, held at Utrecht University, June 2008.
34. Verbeek, M. 2008. A Guide to Modern Econometrics, 3rd ed. John Wiley & Sons Ltd.
35. Walker, J. 1999. "How Big is Global Money Laundering?" 3(1) Journal of Money Laundering Control.
36. WODC (Research and Documentation Centre, Minstry of Justice, The Netherlands). 2003. European Sourcebook of Crime and Criminal Justice Statistics. Boom Juridische Uitgevers.