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Terror Externalities and Trade: An Empirical Analysis

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Abstract

We report robust evidence of adverse cross-border externalities from terrorism on trade for over 160 countries from 1976 to 2014. Terrorism in one country spills over to reduce trade in neighboring nations. These externalities arise from higher trade costs due to trade delays and macroeconomic uncertainty.

Suggested Citation

  • Bandyopadhyay, Subhayu & Doucouliagos, Hristos & Pham, Cong S., 2019. "Terror Externalities and Trade: An Empirical Analysis," Working Papers 2019-17, Federal Reserve Bank of St. Louis, revised 30 May 2019.
  • Handle: RePEc:fip:fedlwp:2019-017
    DOI: 10.20955/wp.2019.017
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    References listed on IDEAS

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    1. José de Sousa & Daniel Mirza & Thierry Verdier, 2009. "Trade and the Spillovers of Transnational Terrorism," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 145(IV), pages 453-461, December.
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    Keywords

    Terrorism; Spillovers; Bilateral imports;

    JEL classification:

    • D74 - Microeconomics - - Analysis of Collective Decision-Making - - - Conflict; Conflict Resolution; Alliances; Revolutions
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • H56 - Public Economics - - National Government Expenditures and Related Policies - - - National Security and War

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