The Economic Impact of Terrorism from 2000 to 2018

Bardwell, Harrison; Iqbal, Mohib

doi:10.1515/peps-2020-0031

Cited by 38 publications

(32 citation statements)

References 39 publications

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“…In totality, the IOA heuristic extracted 14.69% more HIAs using nkill than GTI-IS. We attribute this to the averaging effect of GTI-IS value along with the choice of the coefficients in the GTI-IS calculation in eqn (1). The exclusive nkill HIAs and the common HIAs maintained the same fertility patterns whereas, exclusive GTI-IS HIAs displayed somewhat deviant patterns.…”

Section: Discussionmentioning

confidence: 99%

“…It should be noted that the nkill attribute has the highest weight in the composite index GTI-IS as per eqn (1), which inspires an efficacy analysis of both nkill and GTI-IS in extracting HIAs. Thus, the proposed IOA heuristic is implemented separately using Python ecosystem, as shown in Fig.…”

Section: Methodsmentioning

confidence: 97%

“…Terrorism is a global threat that jeopardizes the peace, development, and economic progress of a nation. From 2000 to 2018, terrorism cost the world economy an estimated $US 855 billion [1]. In these 18 years, countries in the Middle East and North Africa (MENA) region have witnessed the highest level of terrorism due to various armed conflicts.…”

Section: Introductionmentioning

confidence: 99%

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Iterative Outlier Analysis Heuristic to Study High Impact Terror Attacks of the Mena Region and Europe

Singh

Philip

2021

WIT Transactions on the Built Environment

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Terrorism perpetrated by both internal and external actors destabilizes the economy, hampers social harmony, and jeopardizes any nation's internal security. While various forms of terror attacks occur globally, most terrorist organizations focus on high impact attacks (HIA) that maximize human fatalities and associated damages to precipitate fear within the community. Realistic modeling of terrorism is essential to identify critical trends and patterns to devise appropriate countermeasures. global terrorism database (GTD) is the most comprehensive terrorism-related database available for research purposes. Comparing terrorist attacks require specific benchmarks. A specific attribute from the GTD (nkill) and a derived composite parameter from GTD (global terrorism index (GTI)) are compared to establish their efficacy in successfully segregating HIAs from other terrorist attacks. This research focuses on the Middle East and North Africa (MENA) region and Europe. A sequential filtering heuristic based on local point outlier analysis utilizes both measures to extract HIAs of the MENA region. The proposed heuristic using nkill reports 1,055 unique HIAs in comparison with GTI and 522 vice versa. A simple geospatial analysis of these HIAs indicates the most fertile regions for terror organizations. Terrorism proliferation plots are developed to visually identify the migration timelines of major terrorist organizations that are capable of HIAs from the MENA region to Europe. The study concludes that virulent terrorist groups of the MENA region like Al-Qaida in the Arabian Peninsula (AQAP), Islamic State of Iraq and the Levant (ISIL), Muslim Extremists (ME), etc. migrated to Europe successfully.

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Section: Discussionmentioning

confidence: 99%

Section: Methodsmentioning

confidence: 97%

Section: Introductionmentioning

confidence: 99%

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Iterative Outlier Analysis Heuristic to Study High Impact Terror Attacks of the Mena Region and Europe

Singh

Philip

2021

WIT Transactions on the Built Environment

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“…Previous studies have largely focused on economic stability and drivers of terrorism. Some have generally documented the presence of an association between terrorism and economic activities (De Mesquita 2005 ; Bardwell and Iqbal 2021 ), whilst others indicate that economic downturns are associated with high numbers of terrorist attacks (Blomberg et al 2004 ; Drakos and Gofas 2004 ; Efobi et al 2015 ). On the other hand, bank financial stability literature has commonly investigated issues related to corporate governance, risk monitoring and financial performance and, recently, emerging questions related to the COVID-19 pandemic (e.g., Chan and Milne 2014 ; Rumler and Waschiczek 2016 ; Elnahass et al 2020a , b , 2021 ; Trinh et al 2020a ).…”

Section: Introductionmentioning

confidence: 99%

Terrorist attacks and bank financial stability: evidence from MENA economies

Elnahass

Marie

Elgammal

2022

Rev Quant Finan Acc

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This study examines the impact of terrorism on bank stability, represented by bank risk and financial performance. We consider banks from 14 countries located in the Middle East and North Africa region for the period 2010–2018 using both the three-stage least-square and the generalised method of moments. The results provide strong evidence that banks located in countries with high exposure to terrorist attack exhibit low financial stability, due to high bank risk (i.e., high credit and insolvency risk). However, these banks show high financial performance (i.e., high profitability and cost efficiency), on average. Our results also show differential impacts on bank stability for countries marked as more (less) exposed to risk of attacks. For banks located in high-income-generating countries, we find that exposure to terrorism is associated with low financial performance and high credit risk, which is the opposite case for low-income-generating countries. Our results also indicate high systemic risk for listed banks operating under high terrorism risk exposure.

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“…Terrorism has become an increasing concern for countries as a result of a surge in terror incidents. Global terrorism peaked in 2014 with 33,555 deaths globally and an economic impact of US$111bn (Bardwell and Iqbal, 2020), making this the highest yearly record for financial and life losses globally. More than 19,100 terror events have been recorded since 1970 Global Terrorism Database [GTD], 2020; Isola et al, 2019).…”

Section: Introductionmentioning

confidence: 99%

Mapping terrorism in the academic landscape of business field of study: a bibliometric study of the past 30 years

Klona

Menzies

Zutshi

2021

IJCMA

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Purpose Terrorism is as old as humanity itself, but its new form in the twenty-first century is adversely affecting the performance of businesses in both developing and developed countries. The purpose of this study is to identify and analyse the evolution and diffusion of academic knowledge on the topic of terrorism in business-related literature. Design/methodology/approach Data was gathered from two databases, namely, the Scopus and Web of Science over 30 years (1990–2019). The search terms related to terrorism in titles, abstracts and authors’ keywords, which resulted in a total of 1,097 articles. Bibliometric methods, including a thematic and content analysis identifying main themes and using Gephi and VOSviewer software, were used to analyse the data. Findings The results reveal the productivity of the main actors, current thematic choices and future research opportunities. The main thematic areas of the research arising from the bibliometric analysis included the impact of terrorism on economic growth, Foreign Direct Investment, tourism, stock market reforms, security of multinational corporations as a result of terrorism and finally, the impact of political instability and terrorism on business. This study’s findings may guide the research of future academics and assist policy stakeholders in their strategic choices related to future business development. Research limitations/implications The study has certain limitations that are inherent to the bibliometric methods or to the choices related to data collection and processing. Practical implications This study recognised evolution and trends regarding the influence of terrorism on businesses, which is crucial information for the development of business and policy strategies in the future. These strategies should enhance the ability of businesses to cope with the negative effects of terrorism and make these effects less devastating. For academics, this study provides relevant insights on recent research trends in the field of terrorism in business and emerging future academic thematic opportunities. Social implications The findings of the study indicate that issues of terrorism in business have broader social implications, which both academia and policy stakeholders can attend with their work. Originality/value This bibliometric review offers new insights into terrorism from the business lens by identifying the common streams of research in the field, along with the key journals, articles, countries, institutions, authors, data sources and networks in this field. The future research directions in this field of knowledge are also articulated in the study.

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The Economic Impact of Terrorism from 2000 to 2018

Cited by 38 publications

References 39 publications

Iterative Outlier Analysis Heuristic to Study High Impact Terror Attacks of the Mena Region and Europe

Iterative Outlier Analysis Heuristic to Study High Impact Terror Attacks of the Mena Region and Europe

Terrorist attacks and bank financial stability: evidence from MENA economies

Mapping terrorism in the academic landscape of business field of study: a bibliometric study of the past 30 years

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