Warfare, Civil Conflict and the Spatial Impacts on Domestic Investment: Evidence from South America, 1950-2000

Michael Hicks () and Jeffrey Smith ()
Additional contact information
Michael Hicks: Bureau of Business Research and Department of Economics, Ball State University
Jeffrey Smith: Graduate School of Engineering and Management, Air Force Institute of Technology

No 200801, Working Papers from Ball State University, Department of Economics

Abstract: This paper reports the effect of intra and international conflict on domestic investment in South America from 1950-2000. We combine data from the Penn World Table 6.1 and the Militarized Interstate Dispute Dataset from the Correlates of War project in a spatial investment accelerator model. We find that the magnitude of conflicts (total fatal casualties) is associated with diminished domestic investment, in magnitudes that range from 0.1 percent to one third of total investment across South America's experience in civil wars, conflicts and ethnic wars. We find no evidence of spatial spillovers in South America's civil wars. The paucity of international conflicts in the region leads us to conclude there is no more than suggestive evidence of large impacts and spatial spillovers of international conflicts.

Pages: 18 pages
Date: 2008-04, Revised 2008-04
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http://econfac.bsu.edu/research/workingpapers/bsuecwp200801hicks.pdf First version, 2008 (application/pdf)

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Journal Article: Warfare, Civil Conflict and the Spatial Impacts on Domestic Investment: Evidence from South America, 1950-2000 (2009)
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