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

Arlen Guarín; Carlos Medina; Jorge Andrés Tamayo-Castaño

Borradores de Economia

Number:

774

Published:

Monday, 1 July 2013

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