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Terrorism and Foreign Direct Investment in Spain and Greece

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Author Info
Enders, Walter
Sandler, Todd

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Abstract

This paper puts forward a time-series methodology for quantifying the impact that terrorist incidents have had on net foreign direct investment. For Spain, a transfer function is used for quantification purposes, while, for Greece, a VAR model is employed. Terrorism had a significant and persistent negative impact on net foreign direct investment--a year's worth of terrorism discouraged net foreign direct investment by 13.5 percent annually in Spain and by 11.9 percent annually in Greece. The cumulative effect on foreign-held capital is indicated. It shows that smaller countries that face a persistent threat of terrorism may incur economic costs in the form of reduced investment and growth. Copyright 1996 by WWZ and Helbing & Lichtenhahn Verlag AG

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Publisher Info
Article provided by Blackwell Publishing in its journal Kyklos.

Volume (Year): 49 (1996)
Issue (Month): 3 ()
Pages: 331-52
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:bla:kyklos:v:49:y:1996:i:3:p:331-52

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Web page: http://www.blackwellpublishing.com/journal.asp?ref=0023-5962

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  1. Alberto Abadie & Javier Gardeazabal, 2001. "The Economic Costs of Conflict: A Case-Control Study for the Basque Country," NBER Working Papers 8478, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  2. Carlos P. Barros & Guglielmo Maria Caporale & Luis A. Gil-Alana, 2006. "Eta Terrorism:Police Action, Political Measures And The Influence Of Violence On Economic Activity In The Basque Country," Economics and Finance Discussion Papers 06-03, Economics and Finance Section, School of Social Sciences, Brunel University. [Downloadable!]
  3. Krug, B. & Reinmoeller, P., 2003. "The Hidden Cost of Ubiquity: Globalisation and Terrorism," Research Paper ERS-2003-062-ORG Revision, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus Uni. [Downloadable!]
  4. Bruno Frey & Simon Luechinger & Alois Stutzer, 2004. "Valuing Public Goods: The Life Satisfation Approach," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
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  5. Alberto Abadie & Sofia Dermisi, 2006. "Is Terrorism Eroding Agglomeration Economies in Central Business Districts? Lessons from the Office Real Estate Market in Downtown Chicago," NBER Working Papers 12678, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  6. Cathérine Müller & Joppe de Ree, 2009. "The Threat of Terrorism: The Perspective of a Policy-Maker," Economics of Security Working Paper Series 3, DIW Berlin, German Institute for Economic Research. [Downloadable!]
  7. Tim Krieger & Daniel Meierrieks, 2008. "What causes terrorism?," Working Papers 12, University of Paderborn, CIE Center for International Economics. [Downloadable!]
  8. Bruno S. Frey & Simon Luechinger, . "Measuring Terrorism," IEW - Working Papers iewwp171, Institute for Empirical Research in Economics - IEW. [Downloadable!]
  9. Alberto Abadíe & Javier Gardeazábal, 2005. "Terrorism and the World Economy," DFAEII Working Papers 200519, University of the Basque Country - Department of Foundations of Economic Analysis II. [Downloadable!]
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  10. Carlos Pestana Barros, 2003. "An intervention analysis of terrorism: the spanish eta case," Defence and Peace Economics, Taylor and Francis Journals, vol. 14(6), pages 401-412, December. [Downloadable!] (restricted)
  11. Yingqi Wei & Caroline Elliott, 2009. "The Impact of Regulatory Intervention in the UK Store Card Industry," Working Papers 005954, Lancaster University Management School, Economics Department. [Downloadable!]
  12. Dimitrios Christelis & Dimitris Georgarakos, 2009. "Household Economic Decisions under the Shadow of Terrorism," CSEF Working Papers 213, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy. [Downloadable!]
  13. James Lutz & Brenda Lutz, 2007. "Terrorism as Economic Warfare," Global Economy Journal, International Trade and Finance Association, vol. 6(2), pages 2. [Downloadable!]
  14. Bruno S. Frey & Simon Luechinger, . "Terrorism: Deterrence May Backfire," IEW - Working Papers iewwp136, Institute for Empirical Research in Economics - IEW. [Downloadable!]
  15. Khusrav Gaibulloev, 2008. "The Impact of Terrorism and Conflicts on Growth in Asia, 1970–2004," Working Papers id:1789, esocialsciences.com. [Downloadable!]
  16. Jan Hendrik Fisch, 2008. "Real call options to enlarge foreign subsidiaries – The moderating effect of irreversibility on the influence of economic volatility and political instability on subsequent FDI," Diskussionsreihe "Global Business Management" 2, University of Augsburg, competence center for global business management. [Downloadable!]
  17. Hamid Mohtadi & Antu Panini Murshid, 2009. "Risk of catastrophic terrorism: an extreme value approach," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 24(4), pages 537-559. [Downloadable!]
  18. W. Viscusi, 2009. "Valuing risks of death from terrorism and natural disasters," Journal of Risk and Uncertainty, Springer, vol. 38(3), pages 191-213, June. [Downloadable!] (restricted)
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