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Terrorized economies

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  • Nicole Crain

    ()

  • W. Crain

    ()

Abstract

In this paper we estimate the macroeconomic consequences of terrorism using panel data for 147 countries for the period 1968–2002. The results reveal that the potential gains to a country from reducing terrorism are quite large, although the specific estimates depend on a country's population, base level of output, and investment. We present estimates of the impact of terrorism on GDP, GDP growth, investment, consumer spending, and tourism. These estimates of the marginal impact of terrorism provide a threshold against which a country's expenditures on anti-terrorism can be weighed. Copyright Springer Science + Business Media, Inc. 2006

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File URL: http://hdl.handle.net/10.1007/s11127-006-9056-6
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Bibliographic Info

Article provided by Springer in its journal Public Choice.

Volume (Year): 128 (2006)
Issue (Month): 1 (July)
Pages: 317-349

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Handle: RePEc:kap:pubcho:v:128:y:2006:i:1:p:317-349

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Web page: http://www.springerlink.com/link.asp?id=100332

Related research

Keywords: Terrorism; International terrorism; Regional terrorism; Homeland security; Macroeconomic performance; Economic performance; Deterrence; Public expenditure;

References

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  1. Mueller, Dennis C., 2004. "Rights and citizenship in a world of global terrorism," European Journal of Political Economy, Elsevier, vol. 20(2), pages 335-348, June.
  2. Blomberg, S. Brock & Hess, Gregory D. & Orphanides, Athanasios, 2004. "The macroeconomic consequences of terrorism," Journal of Monetary Economics, Elsevier, vol. 51(5), pages 1007-1032, July.
  3. Enders, Walter & Sandler, Todd, 2000. "Is Transnational Terrorism Becoming More Threatening? A Time-Series Investigation," Staff General Research Papers 1823, Iowa State University, Department of Economics.
  4. Eckstein, Zvi & Tsiddon, Daniel, 2004. "Macroeconomic Consequences of Terror: Theory and the Case of Israel," CEPR Discussion Papers 4427, C.E.P.R. Discussion Papers.
  5. Hall, Robert E & Jones, Charles I, 1997. "Levels of Economic Activity across Countries," American Economic Review, American Economic Association, vol. 87(2), pages 173-77, May.
  6. Sandler, Todd & Enders, Walter, 2004. "An economic perspective on transnational terrorism," European Journal of Political Economy, Elsevier, vol. 20(2), pages 301-316, June.
  7. Drakos, Konstantinos & Kutan, Ali M., 2001. "Regional effects of terrorism on tourism: Evidence from three Mediterranean countries," ZEI Working Papers B 26-2001, ZEI - Center for European Integration Studies, University of Bonn.
  8. David Fielding, 2003. "Modelling Political Instability and Economic Performance: Israeli Investment during the "Intifada"," Economica, London School of Economics and Political Science, vol. 70(277), pages 159-186, February.
  9. Rossi-Hansberg, Esteban, 2004. "Cities under stress," Journal of Monetary Economics, Elsevier, vol. 51(5), pages 903-927, July.
  10. Fielding, David, 2003. " Counting the Cost of the Intifada: Consumption, Saving and Political Instability in Israel," Public Choice, Springer, vol. 116(3-4), pages 297-312, September.
  11. Brown, Jeffrey R. & Cummins, J. David & Lewis, Christopher M. & Wei, Ran, 2004. "An empirical analysis of the economic impact of federal terrorism reinsurance," Journal of Monetary Economics, Elsevier, vol. 51(5), pages 861-898, July.
  12. Alberto Abadie & Javier Gardeazabal, 2003. "The Economic Costs of Conflict: A Case Study of the Basque Country," American Economic Review, American Economic Association, vol. 93(1), pages 113-132, March.
  13. Bruno S. Frey & Simon Luechinger, . "How to Fight Terrorism: Alternatives to Deterrence," IEW - Working Papers 137, Institute for Empirical Research in Economics - University of Zurich.
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Citations

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Cited by:
  1. repec:pdn:wpaper:12 is not listed on IDEAS
  2. Thomas Gries & Tim Krieger & Daniel Meierrieks, 2009. "Causal Linkages Between Domestic Terrorism and Economic Growth," Working Papers CIE 20, University of Paderborn, CIE Center for International Economics.
  3. Kollias, Christos & Kyrtsou, Catherine & Papadamou, Stephanos, 2013. "The effects of terrorism and war on the oil price–stock index relationship," Energy Economics, Elsevier, vol. 40(C), pages 743-752.
  4. Friedrich Schneider & Tilman Brück & Daniel Meierrieks, 2010. "The Economics of Terrorism and Counter-Terrorism: A Survey (Part I)," Discussion Papers of DIW Berlin 1049, DIW Berlin, German Institute for Economic Research.
  5. Krisztina Kis-Katos & Helge Liebert & Guenther G. Schulze, 2012. "On the Heterogeneity of Terror," Discussion Paper Series 19, Department of International Economic Policy, University of Freiburg, revised May 2012.
  6. Sarah Brockhoff & Tim Krieger & Daniel Meierrieks, 2010. "Ties That Do Not Bind (Directly): The Education-Terrorism Nexus Revisited," Working Papers CIE 26, University of Paderborn, CIE Center for International Economics.
  7. Dorsett, Richard, 2013. "The effect of the Troubles on GDP in Northern Ireland," European Journal of Political Economy, Elsevier, vol. 29(C), pages 119-133.
  8. Peter Kurrild-Klitgaard & Mogens Justesen & Robert Klemmensen, 2006. "The political economy of freedom, democracy and transnational terrorism," Public Choice, Springer, vol. 128(1), pages 289-315, July.
  9. repec:pdn:wpaper:40 is not listed on IDEAS

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