Article

Measuring the Economic Costs of Terrorism

Walter Enders and Eric Olson

in The Oxford Handbook of the Economics of Peace and Conflict

Published in print April 2012 | ISBN: 9780195392777
Published online November 2012 | | DOI: http://dx.doi.org/10.1093/oxfordhb/9780195392777.013.0016

Series: Oxford Handbooks

 Measuring the Economic Costs of Terrorism

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Analyses of the costs and consequences of conflict usually focus on either civil wars or interstate conflict. The 9/11 attacks, however, have heightened interest regarding the costs of terrorism, a specific form of conflict in which violence is directed toward noncombatants or civilians who generally are not related to the political target of the perpetrating group. While terrorism can be seen as a specific tactic employed in internal and external conflicts, the effects of such violence have been studied separately. This article surveys the existing evidence of the costs of those terrorist acts that are perpetrated by nonstate parties or subnational groups, and discusses the various methodological issues involved. It differentiates between macroeconomic and microeconomic consequences of terrorism, and examines their consequences across different economies.

Keywords: 9/11 attacks; terrorist acts; economic costs

Article.  11235 words. 

Subjects: Economics ; Microeconomics ; Econometric and Statistical Methods and Methodology: General

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