An article authored by Chandan Jha, Ph.D., the John K. Purcell ’65 Endowed Chair in Finance. at Le Moyne College, and Swarup Joshi of Loyola Marymount University has appeared in the International Review of Financial Analysis. The article investigates the consequences of municipal bankruptcies in the US on the incidence of crime. It finds that both violent and nonviolent crime rates rise significantly in the local jurisdiction declaring bankruptcy. The paper can be found here.

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