Publication
Terror and its fiscal consequences
| dc.contributor.author | Clements, Benedict | |
| dc.contributor.author | Gupta, Sanjeev | |
| dc.contributor.author | Jalles, João Tovar | |
| dc.contributor.author | Khamidova, Saida | |
| dc.date.accessioned | 2020-09-04T15:07:21Z | |
| dc.date.available | 2020-09-04T15:07:21Z | |
| dc.date.issued | 2020-08 | |
| dc.description.abstract | 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. | pt_PT |
| dc.description.version | info:eu-repo/semantics/publishedVersion | pt_PT |
| dc.identifier.citation | Clements, Benedict ... [et al.] (2020). "Terror and its fiscal consequences". Instituto Superior de Economia e Gestão – REM Working paper nº 0140 – 2020 | pt_PT |
| dc.identifier.issn | 2184-108X | |
| dc.identifier.uri | http://hdl.handle.net/10400.5/20249 | |
| dc.language.iso | eng | pt_PT |
| dc.peerreviewed | yes | pt_PT |
| dc.publisher | ISEG - REM - Research in Economics and Mathematics | pt_PT |
| dc.relation.ispartofseries | REM Working paper;nº 0140 – 2020 | |
| dc.subject | fiscal policy | pt_PT |
| dc.subject | growth | pt_PT |
| dc.subject | armed conflict | pt_PT |
| dc.subject | terrorism | pt_PT |
| dc.subject | panel data | pt_PT |
| dc.subject | local projection method | pt_PT |
| dc.subject | seemingly unrelated regressions | pt_PT |
| dc.title | Terror and its fiscal consequences | pt_PT |
| dc.type | working paper | |
| dspace.entity.type | Publication | |
| rcaap.rights | openAccess | pt_PT |
| rcaap.type | workingPaper | pt_PT |