The Effect of Terrorist Incidents on Capital Flows

被引：23

作者：

Filer, Randall K. ^{[1
,2
,3
,4
]}

Stanisic, Dragana ^{[5
,6
]}

机构：

[1] CUNY Hunter Coll, Dept Econ, 695 Pk Ave, New York, NY 10065 USA

[2] CUNY, Grad Ctr, 695 Pk Ave, New York, NY 10065 USA

[3] IZA, CERGE EI, Joint Workplace, Prague, Czech Republic

[4] CESifo, Prague, Czech Republic

[5] Charles Univ Prague, CERGE EI, Prague 11121, Czech Republic

[6] Czech Acad Sci, Politickych veznu 7, Prague 11121, Czech Republic

来源：

REVIEW OF DEVELOPMENT ECONOMICS | 2016年 / 20卷 / 02期

关键词：

MACROECONOMIC CONSEQUENCES; TRANSNATIONAL TERRORISM; IMPACT;

D O I：

10.1111/rode.12246

中图分类号：

F0 [经济学]; F1 [世界各国经济概况、经济史、经济地理]; C [社会科学总论];

学科分类号：

0201 ; 020105 ; 03 ; 0303 ;

摘要：

Previous work has shown that terrorism has significant negative impact on countries' economies. We explore this relationship in more detail. Using an unbalanced panel of more than 160 countries for up to 25 years and the Global Terrorism Database (GTD) we show a decrease in foreign direct investment (FDI) as a consequence of terrorism. We also find evidence that FDI flows are more sensitive to terrorism than either portfolio investments or external debt flows. Finally, we test the hypothesis that terrorism has negative spill-over effects on FDI flows into neighboring countries and find evidence that cultural, but not geographical, closeness matters.

引用

页码：502 / 513

页数：12

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