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The Open Society Assesses its Enemies: Shocks, Disasters and Terrorist Attacks

Growth

  • The Open Society Assesses its Enemies: Shocks, Disasters and Terrorist Attacks

    This paper conducts a systematic investigation of the incidence and economic costs of terrorist attacks at the country level. We use newly assembled data sets on terrorist attacks, natural disasters and currency crises to answer three different questions: what are the determinants of terrorism; is there an output cost following a terrorist attack; and is that cost larger or smaller in the case of democracies. (…)

  • How Democracy Affects Growth

    This paper introduces a new methodology to examine the empirical relationship between democracy and economic growth. Democratic institutions are assumed to a!ect growth through a series of channels. We specify and estimate a full system of equations determining growth and the channel variables. (…)