The welfare cost of terrorism

Margarita Vorsina; Matthew Manning; Christopher M. Fleming; Christopher L. Ambrey; Christine Smith

The welfare cost of terrorism

Margarita Vorsina, Matthew Manning, Christopher M. Fleming^*, Christopher L. Ambrey, Christine Smith

^*Corresponding author for this work

Research output: Conference Papers › RGC 32 - Refereed conference paper (without host publication) › peer-review

Abstract

Data from 117 countries over the period 2006 to 2011 are used to estimate a macroeconomic cross-country system of equations that examines the association between terrorism, self-reported life satisfaction and national income. Results indicate that terrorism is negatively associated with life satisfaction, whereas no such association is found between terrorism and real GDP per worker. Stark contrasts are found, however, between OECD and non-OECD members. In all, our results suggest that the social costs of terrorism are potentially much higher than the economic costs, and measuring only the conventional economic costs of terrorism significantly underestimates the true costs.

Original language	English
Number of pages	41
Publication status	Published - Jul 2015
Externally published	Yes
Event	2015 Australian Conference of Economists (ACE 2015) - Queensland University of Technology, Brisbane, Australia Duration: 7 Jul 2015 → 10 Jul 2015 https://editorialexpress.com/conference/ACE2015/program/ACE2015.html

Conference

Conference	2015 Australian Conference of Economists (ACE 2015)
Abbreviated title	ACE2015
Place	Australia
City	Brisbane
Period	7/07/15 → 10/07/15
Internet address	https://editorialexpress.com/conference/ACE2015/program/ACE2015.html

Research Keywords

Subjective wellbeing
Life satisfaction
Terrorism

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title = "The welfare cost of terrorism",

abstract = "Data from 117 countries over the period 2006 to 2011 are used to estimate a macroeconomic cross-country system of equations that examines the association between terrorism, self-reported life satisfaction and national income. Results indicate that terrorism is negatively associated with life satisfaction, whereas no such association is found between terrorism and real GDP per worker. Stark contrasts are found, however, between OECD and non-OECD members. In all, our results suggest that the social costs of terrorism are potentially much higher than the economic costs, and measuring only the conventional economic costs of terrorism significantly underestimates the true costs.",

keywords = "Subjective wellbeing, Life satisfaction, Terrorism",

author = "Margarita Vorsina and Matthew Manning and Fleming, {Christopher M.} and Ambrey, {Christopher L.} and Christine Smith",

year = "2015",

month = jul,

language = "English",

note = "2015 Australian Conference of Economists (ACE 2015), ACE2015 ; Conference date: 07-07-2015 Through 10-07-2015",

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TY - CONF

T1 - The welfare cost of terrorism

AU - Vorsina, Margarita

AU - Manning, Matthew

AU - Fleming, Christopher M.

AU - Ambrey, Christopher L.

AU - Smith, Christine

PY - 2015/7

Y1 - 2015/7

N2 - Data from 117 countries over the period 2006 to 2011 are used to estimate a macroeconomic cross-country system of equations that examines the association between terrorism, self-reported life satisfaction and national income. Results indicate that terrorism is negatively associated with life satisfaction, whereas no such association is found between terrorism and real GDP per worker. Stark contrasts are found, however, between OECD and non-OECD members. In all, our results suggest that the social costs of terrorism are potentially much higher than the economic costs, and measuring only the conventional economic costs of terrorism significantly underestimates the true costs.

AB - Data from 117 countries over the period 2006 to 2011 are used to estimate a macroeconomic cross-country system of equations that examines the association between terrorism, self-reported life satisfaction and national income. Results indicate that terrorism is negatively associated with life satisfaction, whereas no such association is found between terrorism and real GDP per worker. Stark contrasts are found, however, between OECD and non-OECD members. In all, our results suggest that the social costs of terrorism are potentially much higher than the economic costs, and measuring only the conventional economic costs of terrorism significantly underestimates the true costs.

KW - Subjective wellbeing

KW - Life satisfaction

KW - Terrorism

M3 - RGC 32 - Refereed conference paper (without host publication)

T2 - 2015 Australian Conference of Economists (ACE 2015)

Y2 - 7 July 2015 through 10 July 2015

ER -

The welfare cost of terrorism

Abstract

Conference

Research Keywords

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