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Firm Exit and Armed Conflict in Colombia

  • Camacho, Andriana
  • Rodriguez, Catherine

This paper uses two unique panel data sets to study the causal effect that armed conflict has over entrepreneurial activity in Colombia. Using a fixed effect estimation methodology at the plant level and controlling for the possible endogeneity of armed conflict through the use of instrumental variables, we find that a one standard deviation in the number of guerrilla and paramilitary attacks in a municipality increases the probability of firm exit in 8.1 percentage points. This effect is stronger for smaller plants and has a differential impact with respect to firms’ age.

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File URL: http://www.wider.unu.edu/stc/repec/pdfs/wp2010/wp2010-94.pdf
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Paper provided by World Institute for Development Economic Research (UNU-WIDER) in its series Working Paper Series with number wp2010-94.

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Length: 30 pages
Date of creation: 2010
Date of revision:
Handle: RePEc:unu:wpaper:wp2010-94
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  1. Marcela Eslava & John Haltiwanger & Adriana Kugler & Maurice Kugler, 2004. "The Effect of Structural Reforms on Productivity and Profitability Enhancing Reallocation: Evidence from Colombia," NBER Working Papers 10367, National Bureau of Economic Research, Inc.
  2. Gaviria, Alejandro, 2002. "Assessing the effects of corruption and crime on firm performance: evidence from Latin America," Emerging Markets Review, Elsevier, vol. 3(3), pages 245-268, September.
  3. Iyigun, Murat & Rodrik, Dani, 2004. "On the Efficacy of Reforms: Policy Tinkering, Institutional Change and Entrepreneurship," CEPR Discussion Papers 4399, C.E.P.R. Discussion Papers.
  4. Philip Verwimp & Tom Bundervoet, 2008. "Consumption Growth, Household Splits and Civil War," HiCN Working Papers 48, Households in Conflict Network.
  5. Edward Miguel & Shanker Satyanath & Ernest Sergenti, 2004. "Economic Shocks and Civil Conflict: An Instrumental Variables Approach," Journal of Political Economy, University of Chicago Press, vol. 112(4), pages 725-753, August.
  6. 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.
  7. Rony Pshisva & Gustavo A. Suarez, 2006. "'Captive markets': the impact of kidnappings on corporate investment in Colombia," Finance and Economics Discussion Series 2006-18, Board of Governors of the Federal Reserve System (U.S.).
  8. Daniel Mejía & Carlos Posada, . "Capital Destruction, Optimal Defense and Economic Growth," Borradores de Economia 257, Banco de la Republica de Colombia.
  9. Adriana Camacho, 2008. "Stress and Birth Weight: Evidence from Terrorist Attacks," American Economic Review, American Economic Association, vol. 98(2), pages 511-15, May.
  10. Alvarez, Roberto & Görg, Holger, 2005. "Multinationals and Plant Exit: Evidence from Chile," IZA Discussion Papers 1611, Institute for the Study of Labor (IZA).
  11. Shemyakina, Olga, 2011. "The effect of armed conflict on accumulation of schooling: Results from Tajikistan," Journal of Development Economics, Elsevier, vol. 95(2), pages 186-200, July.
  12. Joshua D. Angrist & Adriana D. Kugler, 2008. "Rural Windfall or a New Resource Curse? Coca, Income, and Civil Conflict in Colombia," The Review of Economics and Statistics, MIT Press, vol. 90(2), pages 191-215, May.
  13. Catherine Rodríguez & Fabio Sánchez T., 2009. "Armed Conflict Exposure, Human Capital Investments and Child Labor: Evidence from Colombia," DOCUMENTOS CEDE 005400, UNIVERSIDAD DE LOS ANDES-CEDE.
  14. Alvaro J. Riascos & Juan F. Vargas, 2011. "Violence and growth in Colombia: A review of the quantitative literature," Economics of Peace and Security Journal, Economists for Peace and Security, vol. 6(2), pages 15-20, July.
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