Illicit Trade and the Global Economy (CESifo Seminar Series) - Hardcover

Storti, Cláudia Costa; Grauwe, Paul De; Grauwe, Peter De; Caulkins, Jonathan; Schneider, Friedrich

Hardcover

ISBN 10: 0262016559 ISBN 13: 9780262016551

Publisher: MIT Press, 2012

Synopsis

Economists explore the relationship between expanding international trade and the parallel growth in illicit trade, including illegal drugs, smuggling, and organized crime.

As international trade has expanded dramatically in the postwar period—an expansion accelerated by the opening of China, Russia, India, and Eastern Europe—illicit international trade has grown in tandem with it. This volume uses the economist's toolkit to examine the economic, political, and social problems resulting from such illicit activities as illegal drug trade, smuggling, and organized crime.

The contributors consider several aspects of the illegal drug market, including the sometimes puzzling relationships among purity, price, and risk; the effect of globalization on the heroin and cocaine markets, examined both through mathematical models and with empirical data from the U.K; the spread of khat, a psychoactive drug imported legally to the U.K. as a vegetable; and the economic effect of the “war on drugs” on producer and consumer countries. Other chapters examine the hidden financial flows of organized crime, patterns of smuggling in international trade, Iran's illicit trading activity, and the impact of mafia-like crime on foreign direct investment in Italy.

About this title

About the Authors

Cláudia Costa Storti is an economist affiliated with the European Monitoring Centre for Drugs and Drug Addiction and editor of the International Journal of Drug Policy.

Paul De Grauwe is Professor of Economics at the Catholic University of Leuven, the author of The Economics of Monetary Union, and the editor of three previous books in the CESifo Seminar series.

Friedrich Schneider is Professor of Economics at the Johannes Kepler University Linz.

Helge Berger is Professor and Chair of Monetary Economics at Free University Berlin and coeditor of Managing EU Enlargement (MIT Press, 2004).

Volker Nitsch is Professor for International Economics at Darmstadt University of Technology.

Edition details

• Publisher: MIT Press
• Publication date: 2012
• Language: English
• ISBN 10: 0262016559
• ISBN 13: 9780262016551
• Binding: Hardcover
• Number of pages: 272