ABADIE, Alberto y GARDEAZÁBAL, Javier (2003): «The Economic Costs of Conflict: A Case Study of the Basque Country», The American Economic Review, vol. 93, nº 1, pp. 113-132.
This article investigates the economic effects of conflict, using the terrorist conflict in the Basque Country as a case study. We find that, after the outbreak of terrorism in the late 1960’s, per capita GDP in the Basque Country declined about 10 percentage points relative to a synthetic control region without terrorism. In addition, we use the 1998-1999 truce as a natural experiment. We find that stocks of firms with a significant part of their business in the Basque Country showed a positive relative performance when truce became credible, and a negative relative performance at the end of the cease-fire.
Alberto Abadie. Página del autor en Dialnet.
Javier Gardeazabal. Página del autor en Dialnet.
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