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

Eleni Kyrkopoulou, Alexandros Louka and Kristin Fabbe

Journal of Policy Modeling, 2024, vol. 46, issue 3, 514-529

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

Keywords: Crime rate; Greece; Crisis; Bank deposits; Property crime (search for similar items in EconPapers)
JEL-codes: K42 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jpolmo:v:46:y:2024:i:3:p:514-529

DOI: 10.1016/j.jpolmod.2024.02.003

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