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Who Has Terror Angst?
Report

Who Has Terror Angst?

Perceptions of the Effects of Terror on the World Economy

Dorine Boumans, Johanna Garnitz and Günther Schulze
CESifo Group Munich, 2016
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Editorial Rating

8

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  • Innovative

Recommendation

Countries around the world have felt the impacts of terrorism, and its effects reverberate throughout both national and global economies. Investment, consumption and tourism fall off in the affected areas, according to several studies. Pessimistic expectations also play a large part in all these negative economic outcomes: When investments appear risky and travel seems unsafe, these perceptions eventually become a self-fulfilling prophecy. Researchers Dorine Boumans and Johanna Garnitz and Professor Günther Schulze conducted a survey that explores the question of how such perceptions evolve and that provides noteworthy insights into the economic implications of terrorism. getAbstract recommends their report to economists and government officials.

Summary

Terrorists spread fear and uncertainty, thereby creating the conditions that can undermine financial, commercial and social constructs. To assess how perceptions regarding terrorist activities influence economies, a survey asked 968 experts from 119 countries about the economic effects of terrorism, both in their own countries and around the world. The survey found that women were inclined to be more negative than men about the overall economic impacts of terrorism. Individuals with advanced academic degrees, specifically PhDs, tended to be more sanguine about...

About the Authors

Dorine Boumans and Johanna Garnitz are researchers at the Ifo Institute. Gūnther Schulze is an economics professor at the University of Freiburg.

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