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Economics of Security Working Paper Series 32 / 2010
The paper explores the dimensions of public opinion relevant for supporting terrorism and their relationship with terrorist attacks. We link the 2007 PEW survey data on justification of suicide terrorism and opinions in 16 countries of the Middle East, Africa and Asia on nine regional powers to the NCTC data on international terrorist incidents between 2004 and 2008. We find that justification of suicide ...
2010| Jitka Maleckova, Dragana Stanisic
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Economics of Security Working Paper Series 31 / 2010
Beyond the loss of life and personal injuries that the victims of terrorist actions suffer and the atmosphere of fear terrorists seek to create with their premeditated use of brutal violence, terror also has real economic and political costs that go beyond the immediate costs and damages of a terrorist attack. Terrorist actions can have a multitude of economic consequences that may adversely affect ...
2010| Nikos Christofis, Christos Kollias, Stephanos Papadamou, Apostolos Stagiannis
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Economics of Security Working Paper Series 30 / 2010
To comprehend why a group would intentionally target civilians, we need to understand why other groups do not. In this chapter, we argue that disgruntled groups face three main choices when addressing their dissatisfaction: suffering a disadvantageous peace, engaging in unconventional warfare, or engaging in conventional warfare. We further disaggregate the choice of unconventional warfare into terrorism ...
2010| Christopher K. Butler, Scott Gates
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Economics of Security Working Paper Series 29 / 2010
The security industry can be defined, in the first instance, as the industry that produces the goods and services required to protect citizens from insecurity. Yet, this industry, as opposed to defence, has not been an area of intense research. Their boundaries are unclear and the industry is not well characterised. This paper analyses this knowledge gap and presents some ideas for a research agenda ...
2010| Carlos Martí Sempere
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Economics of Security Working Paper Series 26 / 2010
After giving a short literature review, the paper tries a quantification of the volume of money laundering activities, with the help of a MIMIC estimation procedure for the years 1995 to 2006 for 20 highly developed OECD countries. The volume of laundered money was 273 billions USD in the year 1995 for these 20 OECD countries and increased to 603 billions USD in 2006. The overall turnover in organized ...
2010| Friedrich Schneider
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Economics of Security Working Paper Series 25 / 2010
The term "Money Laundering" originates from the US describing the Mafia's attempt to "launder" illegal money via cash-intensive washing salons, which where controlled by company acquisitions or business formations. Estimated two to five per cent of the global gross domestic product stems from illicit sources. A great deal of the money derives from drug-dealing, with a total revenue of 810 Billion USD ...
2010| Friedrich Schneider, Ursula Windischbauer
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Economics of Security Working Paper Series 22 / 2009
Scholars of terrorism studies have long struggled to agree on a common understanding of what terrorism is. To date, they have agreed on little more than the fact that terrorism is difficult to define. As a consequence, more than 100, if not more than 200 modern definitions of terrorism have been formulated. Within those definitions, different aspects of terrorism are stressed including the underlying ...
2009| Eric van Um
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Economics of Security Working Paper Series 17 / 2009
The determinants of the cross-market transmission mechanism for terrorist shocks are explored, focusing on two major terrorist events and 68 national stock markets. We generate daily abnormal returns from a three-factor world asset pricing model. Abnormal returns are then regressed on proxies of three transmission mechanisms; a world integration channel,a bilateral integration channel, and a liquidity ...
2009| Konstantinos Drakos
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Economics of Security Working Paper Series 16 / 2009
The extant literature has established that the occurrence of major terrorist events leads to negative abnormal returns not only to the location of the event, but also to third countries. However, the literature has neither investigated which are the diffusion mechanisms of terrorist shocks, nor whether the diffusion pattern is uniform. Given terrorism's idiosyncrasies and motivated by memory-based ...
2009| Konstantinos Drakos
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Economics of Security Working Paper Series 14 / 2009
This paper argues that both socio-economic disadvantage and political factors, such as the West's foreign policy with regard to the Muslim world, along with historical grievances, play a part in the development of Islamic radicalized collective action in Western Europe. We emphasise the role of group identity based individual behaviour in organising collective action within radicalized Muslim groups. ...
2009| Syed Mansoob Murshed, Sara Pavan