Search results

The purpose of this paper is to estimate the implications of illicit market use for the value of Bitcoin in an event studies framework.

This study uses a data set of 58 state-level marijuana decriminalisation and legalisation bills and referenda in the USA in 2010–2022.

Decriminalisation is associated with a strong and consistent positive Bitcoin price response around the event, recreational legalisation induces a more ambiguous reaction and medical legalisation is found to have a negative albeit small impact on Bitcoin value. This suggests decriminalisation enhances shadow economy use value of Bitcoin, whereas recreational and medical legalisation are not consistently reducing illicit drug cryptomarket activity. The effects are robust to various estimation windows, in subsamples, and also when outliers, heavy tails, conditional heteroskedasticity and state size are accounted for.

New to the literature, the choice of US marijuana bills, specifically as sample events, is based on both theoretical and empirical grounds.

Drug use in prisons remains a public health concern because it is often the place of drug initiation. The purpose of this study was to analyze the drug use in prison in Burkina Faso.

We conducted cross-sectional study in the prison of Ouagadougou. The adult prisoners (male and female) incarcerated for more than one month at the largest prison of Burkina Faso were included in the study. Participants were selected using a systematic random sampling. Data were collected from October 28 to November 26, 2018. The face-to-face interviews were conducted in the prison grounds. Logistic multivariate regression was used to identify factors associated with in prison drug use. All analysis was done using Stata.

A total of 379 prisoners were included in this study. Approximately one-third inmates (32.71%; n = 124) experienced illicit drug in lifetime. Nearly one-third (28.76%; n = 109) of the prisoners were drug users before incarceration and 11.87% (n = 45) used drug inside the prison, of which 33.33% (n = 15) initiated drug use in the prison. Cannabis was the first drug used by the prisoners (71.11%) followed by tramadol (62.22%), diazepam (13.33%) and cocaine (2.22%). Four prisoners (3.63%) had reported Heroin use before incarceration. Cannabis was mainly smoked. Tramadol, diazepam and amphetamines were swallowed or mixed with food. Cocaine is smoked and snorted. Case of injection of cocaine and heroin was reported before incarceration. Main factors independently associated with drug use in prison is drug use before prison and young age of inmates. Indeed, inmates who had reported drug use before prison had 4.01 time {adjusted odd ratio (AOR: 4.01 [95% CI: 1.91–8.41])} higher odds to use drug in prison.

To conduct the interviews in the prison grounds could be a limitation due to social desirability bias. Indeed, the prisoners may understate drug use in prison for the fear of likely additional sentence. Availability of biological tests for drug markers might help addressed this bias. Nevertheless, the findings of this study should help to plan effective drug use prevention and care programs for prisoners.

The actions must include the implementation of a medical and psychological care in continuum of healthcare system in Burkina Faso. This system should include screening at entry and adequate health and psychological care in prison for drug users for an effective control of drugs use in prison.

Most of these drug users in prison have a low level of education and are unemployed. Education activities and training on occupational activities to prepare drug users for a successful social reintegration less dependent on drugs is essential. This study can be a basis to explore more possibilities and find out what is available to help those with substance use disorder, manage these cases in prison and prevent relapse on release.

To the best of the authors’ knowledge, this study is the first study on drug use in prison in Burkina Faso. It indicates that the repressive strategy against drug use seems ineffective because former users continue their consumption inside and also new users are initiated to use drugs in prison.

Drug trafficking in the tiny state of Manipur, located in the northeastern part of India bordering Myanmar, has drawn attention from all over the globe looking at the scale and varieties of drugs trafficked, ranging from plant-based opiates to synthetic-based amphetamine-type stimulants (ATS). Moreover, drug trafficking in the region also comes with many socio-political dynamics such as high per-capita drug consumption, local drug manufacturing units, terror funding from drug money, politician–drug lord nexus, police–peddler nexus.

The study is based on data from the years 2007 to 2023 accessed from the Narcotics and Affairs of Borders, a specialized branch of Manipur Police, Government of Manipur. The study also tries to estimate the state’s drug economy using the Financial Action Task Force and the United Nations Office on Drugs and Crime methodology.

The study finds seizure of a massive cache of heroin/brown sugar, and ATS in the past 4–5 years. The study also finds large-scale destruction of poppy plants in the state. The study also finds a high percentage of ethnic minority communities involved in drug trafficking. The study found the value amounting to US$62m in 2022. The study also comes across low conviction rates of drug traffickers in the state.

The study emphasizes the need for expediting the War on Drugs campaign in the state curtailing poppy cultivation and conviction of drug lords so that the nerve center of terror funding in India’s eastern front is kept under control.

This paper aims to unveil the darker side of cryptocurrencies by delving into its role as an obstacle to investments in Middle East and African (MEAs) countries, unravelling the challenges involved. Indeed, despite the rise of blockchain-related technologies, specifically cryptocurrencies, having undeniably unlocked new avenues for business and society, crypto for venture funding purposes may exhibit a “dark side” due to their use for unethical purposes, for example, money laundering or terrorism financing, largely diffused in certain areas of MEA countries.

Through an explorative research design, using a mix of techniques based on both qualitative and interpretive methods, we conducted in-depth interviews among 33 European managers of companies engaged in MEA markets or aspiring to invest in such foreign markets, to analyse their thoughts, perceptions and possible strategies concerning the management of the “dark side” of cryptocurrencies in MEAs.

Our investigation unearthed seven pivotal issues, which manifest as significant barriers related to the ambivalent use of crypto for funding projects, encompassing seven important consequential elements: (1) lack of knowledge about the technology’s potentialities; (2) perceptions of crypto technology’s ambivalence; (3) reputation and image consequences; (4) uncertainty about the destination of the invested funds; (5) decreased attractiveness of MEAs; (6) competition and market; and (7) lack of control and regulation. We grouped these into technology-related, business-related and legal- and policy-related barriers. Such findings underline the probable decrease in attractiveness of MEAs in terms of investments, together with the triggering factors and potential strategic solutions to mitigate such circumstances.

Future studies could explore a broader sample of managers since we only considered the perception of European managers operating in companies that invest (or are intending to invest) in MEAs. Moreover, future research may extend the analysis to MEA-native companies or those engaging in reciprocal exchanges with Western countries.

Practically, our findings suggest several elements in which to intervene to mitigate managers’ negative perception of the unethical use of cryptocurrencies in MEAs and to support CEOs’ and CFOs’ strategies, together with requirements to ensure the unaltered attractiveness of investments in an otherwise thriving region of the world, without overlooking the protection and safeguarding of investments and the health of the market and competition. Furthermore, a call for future research in this domain, along with at least minimal regulatory mechanisms, clearly emerges.

Our findings underline the social challenges associated with the perception and acceptance of cryptocurrencies in these contexts, influencing cultural and social dynamics. Moreover, the identification of these barriers could underscore the significance of awareness of and education on blockchain technology and cryptocurrencies within society, including implications for policymakers.

Despite prior investigations into the negative effects of cryptocurrencies as a form of venture funding, no studies to date have examined managers’ perceptions by focusing on possible barriers to investment in MEA countries due to the unethical usage of crypto. Importantly, this paper unravels the unexplored complexities of crypto’s impact on ethical investments in MEAs, showcasing an original perspective.

Although the consequences of illicit financial outflows on the economies of the world continue to exert adverse impacts on many economies of the world, explanations regarding specific drivers of the illicit outflows remain divergent in the literature. This study aims to investigate the effect of financial liberalisation on illicit financial outflows in Africa. Furthermore, the study also examines the effect of macroeconomic stability and institutional quality on illicit outflows.

To achieve the objectives, the study uses a dynamic panel system generalised method of moments technique to analyse annual data from the period 1995 to 2015 of 22 African countries.

The results show that financial liberalisation helps to reduce illicit capital outflows. Furthermore, improved institutional quality is associated with lower levels of capital outflows, thus affirming the theoretical expectations that stable political environment boost investor confidence. Overall, the study show that financial liberalisation reduces illicit outflows. However, liberalisation without sound macroeconomic stability and institutional quality may avail opportunities for illicit outflows.

The main limitation of the study was lack of data that spans periods beyond 2015 for most of the variables on financial illicit flows. The available data sources could not test the objectives beyond 2015.

Current literature on the relationship between financial liberalisation and illicit fund outflows are generally conducted in the context implications on economic growth. However, beyond economic growth, financial liberalisation may impact on illicit financial outflows. Furthermore, other institutional and macroeconomic dynamics may influence illicit financial outflow, especially for developing economies in Africa.

The leaves of the Erythroxylum “coca” plant are a well-known food, beverage, and nutraceutical in their native Andean region. A decade ago, the European non-profit “Amigos de la Hoja de Coca” (Friends of the Coca Leaf) operated a short-lived fair-trade in raw coca leaves between Bolivia and the European Union. The chronicles of this initiative can be insightful, as interest in natural, wellness, and self-care products continues rising in Europe.

Historical review of the inception, and documentation of the organisation of the scheme and its outcome, via all primary sources available.

From the 1990s to the early 2010s, civil society groups organised several campaigns to normalise coca leaf in Europe, finding echo at the European Parliament, culminating in 2012-2013 when a periodical distribution system was set-up: growers in Bolivia shipped 150 g. coca leaf packets directly to Friends of the Coca Leaf members in Europe. Initially, most parcels reached their recipients without issue but after technical hurdles and reduced political support, the scheme was eventually discontinued.

European civil society campaigns surrounding coca have been poorly documented. Historically, Friends of the Coca Leaf emerged alongside Cannabis social clubs, but only the latter has prospered. While Friends of Coca Leaf was short-lived, its political outcomes (both at the institutional level and via a fair and do-it-yourself trade initiative) may prove inspirational to current drug policy reform discussions.