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Economics and Terrorism: What We Know, What We Should Know and the Data We Need

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  • Tavares, José
  • Llussá, Fernanda

Abstract

In this paper we organize the literature on the economics of terrorism around seven different topics, offering a comprehensive view of the literature with a view to identifying questions that remain unanswered. The chosen topic areas are: The Measurement of Terrorist Activity, The Nature of Terrorists, The Utility Cost of Terrorism, The Impact of Terrorism on Aggregate Output, Terrorism and Specific Sectors of Activity, Terrorism and Economic Policy, and Counter-Terrorism. In a sense, we proceed from measurement issues to studies of the characteristics of terrorists and terrorist organizations, the consequences of terrorism on individual utility and, aggregate output and on specific sectors of activity, as well as the impact of terrorism on fiscal and monetary policies. We conclude with an examination of the economics literature on counter-terrorism measures. For each of the topics above, we present what the literature has achieved, the important questions that remain open and the type of data that would help researchers make progress. In our discussion, we identify the main papers in the literature and the issue(s) where each made a contribution, presenting a brief individual summary for these papers, organized along the topic areas.

Suggested Citation

  • Tavares, José & Llussá, Fernanda, 2007. "Economics and Terrorism: What We Know, What We Should Know and the Data We Need," CEPR Discussion Papers 6509, C.E.P.R. Discussion Papers.
  • Handle: RePEc:cpr:ceprdp:6509
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    Citations

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    Cited by:

    1. 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.
    2. Schneider, Friedrich, 2010. "The (Hidden) Financial Flows of Terrorist and Organized Crime Organizations: A Literature Review and Some Preliminary Empirical Results," IZA Discussion Papers 4860, Institute of Labor Economics (IZA).
    3. Tilman Brück & Fernanda Llussá & José Tavares, 2010. "Perceptions, Expectations, and Entrepreneurship: The Role of Extreme Events," Discussion Papers of DIW Berlin 1093, DIW Berlin, German Institute for Economic Research.
    4. Srijit Mishra, 2011. "Conflict Resolution through Mutuality: Lessons from Bayesian Updating," Journal of Quantitative Economics, The Indian Econometric Society, vol. 9(1), pages 41-52.
    5. Shahbaz, Muhammad, 2013. "Linkages between inflation, economic growth and terrorism in Pakistan," Economic Modelling, Elsevier, vol. 32(C), pages 496-506.
    6. Friedrich Schneider, 2009. "Die Finanzströme von organisierter Kriminalität und Terrorismus: was wissen wir (nicht)?," Vierteljahrshefte zur Wirtschaftsforschung / Quarterly Journal of Economic Research, DIW Berlin, German Institute for Economic Research, vol. 78(4), pages 73-87.
    7. Campos, Nauro F. & Gassebner, Martin, 2009. "International Terrorism, Political Instability and the Escalation Effect," IZA Discussion Papers 4061, Institute of Labor Economics (IZA).
    8. 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.
    9. Shahbaz, Muhammad & Shabbir, Shahbaz Muhammad, 2011. "Is hike in inflation responsible for rise in terrorism in Pakistan?," MPRA Paper 31236, University Library of Munich, Germany, revised 29 May 2011.
    10. Bruno S Frey & Margit Osterloh, 2018. "Strategies to Deal with Terrorism," CESifo Economic Studies, CESifo, vol. 64(4), pages 698-711.
    11. Srijit Mishra, 2011. "Conflict Resolution through Mutuality: Lessons from Bayesian Updating," Journal of Quantitative Economics, The Indian Econometric Society, vol. 9(1), pages 41-52.
    12. Friedrich Schneider & Raul Caruso, 2011. "The (Hidden) Financial Flows of Terrorist and Transnational Crime Organizations: A Literature Review and Some Preliminary Empirical Results," Economics of Security Working Paper Series 52, DIW Berlin, German Institute for Economic Research.

    More about this item

    Keywords

    Counter-terrorism; Economics of terrorism; Nature of terrorists; Output costs; Utility costs;
    All these keywords.

    JEL classification:

    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
    • D10 - Microeconomics - - Household Behavior - - - General
    • E20 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - General (includes Measurement and Data)
    • H00 - Public Economics - - General - - - General
    • K00 - Law and Economics - - General - - - General (including Data Sources and Description)
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development

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