The price of terror: The effects of terrorism on stock market returns and volatility
In this paper we investigate the effects of terrorism on the financial markets. Evidence from six different financial markets shows that terror has a significant impact on both stock markets and the stock market volatility, and the magnitude of these effects are larger in emerging markets.
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- Eckstein, Zvi & Tsiddon, Daniel, 2004.
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- Oana M. Nedelescu & R. B. Johnston, 2005. "The Impact of Terrorismon Financial Markets," IMF Working Papers 05/60, International Monetary Fund.
- Nitsch, Volker & Schumacher, Dieter, 2004. "Terrorism and international trade: an empirical investigation," European Journal of Political Economy, Elsevier, vol. 20(2), pages 423-433, June.
- Eldor, Rafi & Melnick, Rafi, 2004. "Financial markets and terrorism," European Journal of Political Economy, Elsevier, vol. 20(2), pages 367-386, June.
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