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Terrorist incidents exert a negative, albeit usually short-lived, impact on markets and equity returns. Given the integration of global financial markets, mega-terrorist events also have a high contagion potential with their shock waves being transmitted across countries and markets. This paper...
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This contribution examines the role of capitalism in anti-American terrorism. Using data for 149 countries between 1970 …-American terrorism increases with external economic liberalization or decreases with higher levels of economic openness. However …, consistent with economic norms theory, higher levels of market-capitalism are associated with less anti-American terrorism …
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We examine the role of market-capitalism in anti-American terrorism, differentiating between level- and rate …-peace literature - coincide with less anti-American terrorism, while the marketization process has inflammatory effects on anti …-American terrorism. These findings are further corroborated by system-level time-series evidence. We argue that a higher level of market …
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