Article

The price of terror: The effects of terrorism on stock market returns and volatility

University of Rome, Tor Vergata, Italy
Economics Letters (Impact Factor: 0.45). 12/2008; 101(3):164-167. DOI: 10.1016/j.econlet.2008.07.007

ABSTRACT In this paper we investigate the effects of terrorism on the financial markets. Evidence from six different financial markets shows that terror has a significant impact on both stock markets and the stock market volatility, and the magnitude of these effects are larger in emerging markets.

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