ILLEGALITÀ, CRESCITA ECONOMICA E AZIONE ANTIRICICLAGGIO: PRINCIPI TEORICI E NUOVE EVIDENZE EMPIRICHE.

Illegality, economic development and money laundering: theoretical principles and recent advances in empirical evidence. This paper analyzes the relationship between illegality and economic development. It sheds light on the recent advances in both statistical and econometric research as well as on the policies to combat money laundering. The illegality is considered in its various aspects and degrees of dangerousness, from the avoidance of civil and fiscal regulations to the forms of organized crime. Among the economically advanced countries, Italy confirms its toplist position in terms of incidence of the underground economy, perceived level of corruption, and presence of criminal organizations. In the areas with greatest intensity of crimes, especially mafia-related crimes, the negative effects on the economy of illegality materialize through numerous channels: access to credit for businesses is more difficult, the accumulation of human capital is impeded, and public development funds are likely misallocated. In order to minimize the criminal activities damage, Italy can rely on a strengthened anti-money laundering regulation discipline that tends to produce increasing positive results. However, the effectiveness of legislation, especially for prevention purposes, cannot be separated from an overall increase in the culture of legality. [ABSTRACT FROM AUTHOR]