THE ECONOMIC COST OF CRIMINALITY: AN ANALYSIS OF ITS IMPACT ON DEVELOPMENT

Abstract

Maintaining peace and harmony is a crucial challenge for developing nations, and the crime rate is a significant factor in achieving this goal. This study is intended to examine the relationship between a developing country's crime rate and the economic factors that influence it. This quantitative study aims to test the objective hypotheses through multiple regression analysis. The study utilized secondary data from the World Bank from 1990 to 2018 to assess the Philippines' crime rate and economic factors. The analysis reveals that economic factors, such as urbanization, GDP per capita, financial development, and labor force, substantially impact the national crime rate. This study provides policymakers with vital insights for implementing evidence-based peace and development initiative strategies. Article visualizations: