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During 2002–2018, the Middle East and North Africa (MENA) accounted globally for 36.1 per cent of terrorist incidents, 49.3 per cent of terrorist‐induced casualties, and 21.4 per cent of conflict deaths. One focus here is to investigate how MENA's terrorist attacks and conflicts compare with those in the world's other six regions during selected pe...

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Abstract Despite the ample inroads that have been made in the understanding of the relationship between human rights and economic development. Relatively, little of research involves countries in the in the Middle East and North Africa region. There is a deficiency in scholarship focusing on the MENA region. Therefore, this dissertation examines t...

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... The causal signals that we find tend to cluster in geographic regions including the Sahel from multiple ongoing conflicts (28,29), northeastern Nigeria from Boko Haram (30), Nigeria and Cameroon from Ambazonian Separatist (31), Northern Africa from civil war (32), the Horn of Africa from state failure and insecurity (33), the Darfur region from genocide and ethnic hostilities (34), Angola and Congo from civil war (35), and Madagascar from the Dahalo Militia (36) as we show in Figure 4a. In contrast, a null model where we have time shuffled all the events in each Voronoi cell leads to a dispersed and fragmented causal network as we show in Figure 4b. ...
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Conflicts, like many social processes, are related events that span multiple scales in time, from the instantaneous to multi-year developments, and in space, from one neighborhood to continents. Yet, there is little systematic work on connecting the multiple scales, formal treatment of causality between events, and measures of uncertainty for how events are related to one another. We develop a method for extracting related chains of events that addresses these limitations with armed conflict. Our method explicitly accounts for an adjustable spatial and temporal scale of interaction for clustering individual events from a detailed data set, the Armed Conflict Event & Location Data Project. With it, we discover a mesoscale ranging from a week to a few months and from tens to a few hundred kilometers, where long-range correlations and nontrivial dynamics relating conflict events emerge. Importantly, clusters in the mesoscale, while extracted only from conflict statistics, are identifiable with causal mechanism cited in field studies. We leverage our technique to identify zones of causal interaction around conflict hotspots that naturally incorporate uncertainties. Thus, we show how a systematic, data-driven procedure extracts social objects for study, providing a scope for scrutinizing and predicting conflict amongst other processes.
... We utilise unique data for banks located within the Middle East and North Africa (MENA) region. Because of excessive and congested regional conflicts, political violence and vast oil wealth, MENA plays a key role in the prospects for global terrorism, world tranquillity and economic prosperity (Kim and Sandler 2020). Therefore, the choice of MENA countries in our study is justified by the large number of terrorist attacks over the last two decades (Bardwell and Iqbal 2021). ...
... According to the Global Terrorism Index (2019), between 2002 and 2018, the MENA region recorded the highest number of fatalities due to terrorism (93,700, representing 42% of the global total). In fact, the MENA region is constantly suffering from recurring terrorist attacks in addition to political unrest, which reflects the importance of understanding the impact of terrorism on bank stability in this region (Kim and Sandler 2020). 2 We employ different risk indicators (i.e., insolvency, credit, liquidity, asset and operational risks) and performance measures (i.e., profitability ratio and cost to income ratio). ...
... Hence, our work contributes to the growing banking studies which concentrate on measuring economic stability and risk mitigation, but which have not captured the individual and joint effects of terrorist attacks on financial performance and bank risk (e.g., Gasbarro et al. 2002;Imerman 2020;Trinh et al. 2020b;Elnahass et al. 2021). In fact, our results (e.g., highlighting the damaging effect of terrorism on bank risk) extend earlier work on the economic impacts of terrorism (Estrada et al. 2015;Asongu and Nwachukwu 2017a, b;Kim and Sandler 2020). This study is also of relevance to investment choices in the emerging banking industry in general (e.g., Rahman and Hassan 2013;Fosu et al. 2020), and studies examining financial determinants of bank stability and corporate policies in monarchies in particular (Choi 2010). ...
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This study examines the impact of terrorism on bank stability, represented by bank risk and financial performance. We consider banks from 14 countries located in the Middle East and North Africa region for the period 2010–2018 using both the three-stage least-square and the generalised method of moments. The results provide strong evidence that banks located in countries with high exposure to terrorist attack exhibit low financial stability, due to high bank risk (i.e., high credit and insolvency risk). However, these banks show high financial performance (i.e., high profitability and cost efficiency), on average. Our results also show differential impacts on bank stability for countries marked as more (less) exposed to risk of attacks. For banks located in high-income-generating countries, we find that exposure to terrorism is associated with low financial performance and high credit risk, which is the opposite case for low-income-generating countries. Our results also indicate high systemic risk for listed banks operating under high terrorism risk exposure.
... In these 18 years, countries in the Middle East and North Africa (MENA) region have witnessed the highest level of terrorism due to various armed conflicts. MENA region is the cradle of many notorious terrorist groups like Islamic State (IS), Al-Qaida in the Arabian Peninsula (AQAP), etc., which are responsible for many devastating domestic and transnational terror attacks [2]. For example, ISIS (Islamic State of Iraq and Syria), also known as ISIL (Islamic State of Iraq and the Levant), is a Sunni jihadist group with extreme violent ideology. ...
... Therefore, the focus was on terrorism as an immanent political practice, the purpose of which is to achieve certain goals. Consequently, supporting terrorism required resources for reproduction (for example , Levitt 2002;Bjørgo 2005;Kim & Sandler 2020), and had consequences in the form of a geopolitical reaction (sanctions, military intervention, exclusion from the international system). Terrorism is an example of a choice between the internal political balance and the geopolitical ambitions of a particular political regime. ...
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The article is devoted to the analysis of geohistorical transformations in the MENA region, which became the prerequisites for the Arab Spring. Author proposes to analyze the world-systemic retrospective of the Middle East, which is characterized by the clash of empires, the confrontation of religions and the geopolitical ambitions of many actors. Author defines three directions in the analysis of the prerequisites for the Arab Spring: (1) the region's imperial past and post-imperial transformations, (2) successful and unsuccessful modernization of political systems, (3) configurations of sources of social power. I assume that after the collapse of an empire, there always appears a political vacuum. In such vacuum, the political system either remains unchanged or completely changes its institutional design. In the case of the MENA region, many states that gained independence in the 20 th century reproduced the imperial logic of government, which consisted in extrapolating the center-peripheral model of political power to their own political systems. In addition, the dominance of the military type of power, as a continuation of the imperial logic of administering the periphery, together with nationalism, secularism, and geopolitical ambitions, played a key role in the emergence of bifurcation processes. Moreover, the unsuccessful unilateral modernization of independent states has weakened the institutional capacity for the stability of political systems. On the other hand, there is the example of Turkey, Iran, and the Gulf countries, which demonstrates successful modernization, the creation of a strong ideological power (with an emphasis on either nationalism or Islamism), the imperial past as centers of imperial worlds, the consolidation of various types of power. These processes led to the creation of not just modern states, but autonomous political systems capable of adapting to geopolitical configurations, leveling bifurcation processes, skillfully managing the mechanisms of control over the territory, population and security of the political system.
... Large-scale shocks and uncertainty can also come about due to socio-political events. Terrorism incidents in the Middle East (Kim and Sandler, 2020) and political unrests in South America (Sofia Ortega, 2017) caused the tourism industry and hospitality workers in those regions to experience difficult times. Another source of large-scale shock to the tourism industry is infectious diseases. ...
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The hospitality industry worldwide is suffering under the COVID-19 pandemic. Drawing on the transactional theory of stress and coping, this study aims to investigate when hospitality workers’ COVID-19 risk perception affects their likelihood of having depressive symptoms. Using data from 211 hospitality workers in 76 hotels in Peru, we examined the effects of perceived COVID-19 risk on the likelihood of experiencing depressive symptoms. We posited that this relationship is moderated by the workers’ environment at work (job satisfaction) and at home (the number of children). The results indicate that job satisfaction weakens the link between hospitality workers’ COVID-19 risk perception and their likelihood of depressive symptoms while the number of children exacerbates this link. We discuss the implications of our findings for research on COVID-19 risk perception and offer practical implications for hospitality workers under COVID-19 crisis.
This study investigates whether women directors’ attributes affect market valuation for banks. Functional attributes such as independence and leadership are considered together with professional attributes such as financial expertise, education and nationality. We have constructed a unique sample of 1,019 bank-year observations for the period 2007-2017 for 12 developing countries that are characterized by low women’s empowerment/quotas and a dual banking system. Alternative measures for women on the board have been used (i.e. the percentage of women and a dummy indicator). Our findings suggest strong evidence that the presence of women directors on the board is positively associated with bank value. Women as independent board members are also positively associated with market value, whereas women being in a chairperson leadership role has no significant association. Accounting and finance qualifications are positively associated with bank market value, whilst conversely, women directors with a high level of education and those holding international qualifications or whom are foreign, are negatively associated with bank market value. As a mediating effect, we examine the cultural value orientations (i.e. cultural openness to diversity) for our sample countries. Our results demonstrate that women directors have a positive association with bank value in countries which are more open to diversity. The findings regarding women directors’ attributes tend to vary depending on the level of culture openness. We additionally examine the impact of different bank types (i.e. Islamic versus conventional banks) and the financial crisis of 2007.
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While a considerable number of studies examine the nexus between terrorism and economic growth, there appears to be a dearth of research on the relationship between terrorism and public debt. The main objective of this chapter is to study the impact of terrorist attacks on the debt-to-GDP and sovereign credit rating for a panel of 11 MENA countries over the period 2002–2018. Given the presence of cross-sectional dependence and the heterogeneity of the panel, we apply the second-generation econometrics tests to investigate the long-run relationship between the variables. Regression techniques were based on the fully modified ordinary least-squares (FMOLS) estimation and Dumitrescu and Hurlin (Econ Model, 29(4):1450–1460, 2012) panel Granger causality test. Our findings highlight the presence of significant long-term relationship between the terrorism index and the debt ratio on the one hand and terrorism index and sovereign credit rating on the other hand. We notice that the violent attacks affect the credit rating more than the debt ratio. On average, one-point increase in terrorism index generates approximately four-notch downgrading for target country. Based on these results, several policy recommendations for the MENA countries are proposed.
Article
This paper quantifies how past transnational terrorist attacks against a potential donor's assets result in enhanced foreign aid flows to a country hosting the responsible terrorist group. Given the reversed causality between foreign aid and terrorism, our empirical analysis puts forward an instrumental variable. Both conflict and governance assistance are shown to stem from transnational terrorist incidents involving recipient–donor dyads during 1974–2013 for a global sample. For recipient-related terrorism, lagged transnational terrorist events against a donor's assets display a robust positive impact on conflict and governance aid. Placebo or falsification tests support the exogeneity of the instrument.
Article
This study investigates the effects of terrorist attacks on foreign investment by stressing the importance of both business- and non-business-targeting terrorism in the host country. Building on North’s strand of institutional theory, we argue that both forms of terrorism represent exogenous risks likely to generate high levels of non-ergodic uncertainty for MNEs and subsequently deter foreign investors. Further, we hypothesize that these effects may be moderated by host-country political regime type, which serves as a gauge for a favorable investment environment for MNEs operating in institutionally fragile markets. Using panel data on fifteen MENA countries over the period 2001–2018, we find empirical support for our hypotheses whereby hybrid political regimes, namely anocracies, strengthen the negative effects of both business- and non-business-targeting terrorism on FDI. Our work contributes to the research on FDI and exogenous risks by offering a more fine-grained conceptualization of terrorism, as well as by highlighting the moderating role of host-country hybrid regimes.
Article
Drawing from statements by politicians, the media, policy analysts, and researchers, the current study identifies nine myths associated with terrorism and the practice of counterterrorism. We focus on those myths that have special policy relevance since the four al‐Qaida hijackings on September 11, 2001, and the ensuing heightened security concern. Many of those myths generated research articles that, at times, come to contradictory conclusions. Our goal is to provide recent statistics and a literature evaluation to sort out such contradictory results. In the case of the alleged macroeconomic consequences of terrorism to a typical country, we supply updated estimations. Throughout our presentation, we draw from the post‐2001 literature or statistical evidence. Often, empirical methods and procedures have evolved to a point where more clear‐cut and robust findings are now available through better identification and advanced estimation procedures.