Terror and its fiscal consequences

Detalhes bibliográficos
Autor(a) principal: Clements, Benedict
Data de Publicação: 2020
Outros Autores: Gupta, Sanjeev, Jalles, João Tovar, Khamidova, Saida
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10400.5/20249
Resumo: We explore the impact of major terrorism shocks on macroeconomic and fiscal variables´ dynamics using an unbalanced panel of 191 heterogeneous countries from 1970 to 2018. By means of the local projection method, we find that a terrorist shock lowers a country’s real GDP as well as government tax revenues and raises debt-to-GDP ratio. The composition of government spending shifts in favor of military spending. Low-income countries are affected more than both emerging market and advanced economies. Our results are robust to a battery of sensitivity and robustness tests.
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spelling Terror and its fiscal consequencesfiscal policygrowtharmed conflictterrorismpanel datalocal projection methodseemingly unrelated regressionsWe explore the impact of major terrorism shocks on macroeconomic and fiscal variables´ dynamics using an unbalanced panel of 191 heterogeneous countries from 1970 to 2018. By means of the local projection method, we find that a terrorist shock lowers a country’s real GDP as well as government tax revenues and raises debt-to-GDP ratio. The composition of government spending shifts in favor of military spending. Low-income countries are affected more than both emerging market and advanced economies. Our results are robust to a battery of sensitivity and robustness tests.ISEG - REM - Research in Economics and MathematicsRepositório da Universidade de LisboaClements, BenedictGupta, SanjeevJalles, João TovarKhamidova, Saida2020-09-04T15:07:21Z2020-082020-08-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.5/20249engClements, Benedict ... [et al.] (2020). "Terror and its fiscal consequences". Instituto Superior de Economia e Gestão – REM Working paper nº 0140 – 20202184-108Xinfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-03-06T14:49:42Zoai:www.repository.utl.pt:10400.5/20249Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T17:05:02.085263Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Terror and its fiscal consequences
title Terror and its fiscal consequences
spellingShingle Terror and its fiscal consequences
Clements, Benedict
fiscal policy
growth
armed conflict
terrorism
panel data
local projection method
seemingly unrelated regressions
title_short Terror and its fiscal consequences
title_full Terror and its fiscal consequences
title_fullStr Terror and its fiscal consequences
title_full_unstemmed Terror and its fiscal consequences
title_sort Terror and its fiscal consequences
author Clements, Benedict
author_facet Clements, Benedict
Gupta, Sanjeev
Jalles, João Tovar
Khamidova, Saida
author_role author
author2 Gupta, Sanjeev
Jalles, João Tovar
Khamidova, Saida
author2_role author
author
author
dc.contributor.none.fl_str_mv Repositório da Universidade de Lisboa
dc.contributor.author.fl_str_mv Clements, Benedict
Gupta, Sanjeev
Jalles, João Tovar
Khamidova, Saida
dc.subject.por.fl_str_mv fiscal policy
growth
armed conflict
terrorism
panel data
local projection method
seemingly unrelated regressions
topic fiscal policy
growth
armed conflict
terrorism
panel data
local projection method
seemingly unrelated regressions
description We explore the impact of major terrorism shocks on macroeconomic and fiscal variables´ dynamics using an unbalanced panel of 191 heterogeneous countries from 1970 to 2018. By means of the local projection method, we find that a terrorist shock lowers a country’s real GDP as well as government tax revenues and raises debt-to-GDP ratio. The composition of government spending shifts in favor of military spending. Low-income countries are affected more than both emerging market and advanced economies. Our results are robust to a battery of sensitivity and robustness tests.
publishDate 2020
dc.date.none.fl_str_mv 2020-09-04T15:07:21Z
2020-08
2020-08-01T00:00:00Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10400.5/20249
url http://hdl.handle.net/10400.5/20249
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv Clements, Benedict ... [et al.] (2020). "Terror and its fiscal consequences". Instituto Superior de Economia e Gestão – REM Working paper nº 0140 – 2020
2184-108X
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv ISEG - REM - Research in Economics and Mathematics
publisher.none.fl_str_mv ISEG - REM - Research in Economics and Mathematics
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron:RCAAP
instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron_str RCAAP
institution RCAAP
reponame_str Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
collection Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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