The Effects of Punishment of Crime in Colombia on Deterrence, Incapacitation, and Human Capital Formation

Borradores de Economia
Number: 
774
Published: 
Classification JEL: 
K42, H56, C21
Keywords: 
Human capital agglomeration, Social returns, Private returns, Externalities, Uncertainty, Fiscal policy
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Based on individual data on the population of those arrested in Medellín, we assess whether the change in punishment at age 18, mandated by law, has a deterrent effect on arrests. No deterrent effect was found on index, violent or property crimes, but a d