Prelims

The Impact of Global Terrorism on Economic and Political Development

ISBN: 978-1-78769-920-5, eISBN: 978-1-78769-919-9

Publication date: 13 May 2019

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(2019), "Prelims", Das, R.C. (Ed.) The Impact of Global Terrorism on Economic and Political Development, Emerald Publishing Limited, Leeds, pp. i-xxviii. https://doi.org/10.1108/978-1-78769-919-920191032

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THE IMPACT OF GLOBAL TERRORISM ON ECONOMIC AND POLITICAL DEVELOPMENT

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THE IMPACT OF GLOBAL TERRORISM ON ECONOMIC AND POLITICAL DEVELOPMENT: AFRO-ASIAN PERSPECTIVES

EDITED BY

RAMESH CHANDRA DAS

Katwa College, India

United Kingdom – North America – Japan – India – Malaysia – China

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First edition 2019

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ISBN: 978-1-78769-920-5 (Print)

ISBN: 978-1-78769-919-9 (Online)

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Dedication

The book is dedicated to my Parents, Uncles, and Aunts.

List of Contributors

Asaleye Abiola Department of Economics, Landmark University, Nigeria
Henry Thomas Asogwa Department of Economics, University of Nigeria, Nigeria
Sema Ay Associate Professor, Department of International Trade and Logistics, Bursa Uludag University, Turkey
Babajide Abiola Ayopo Department of Banking and Finance, Covenant University, Nigeria
Dibyendu Banerjee Assistant Professor in Economics, Serampore College, India
Priyanka Bhaduri Department of Political Science, Vidyasagar University, India
Mainak Bhattacharjee Assistant Professor in Economics, Loreto College, India
Rajib Bhattacharyya Assistant Professor in Economics, Hooghly Mohsin College, India
Santanu Bisai Assistant Professor of Economics, Shyamaprasad College, India
Bappaditya Biswas Assistant Professor in Commerce, University of Calcutta, India
Işın Çetin Asistant Professor, Department of Econometrics, Giresun University, Turkey
Saptarshi Chakraborty Principal, Panchakot Mahavidyalaya, India
Tonmoy Chatterjee Assistant Professor in Economics, Ananda Chandra College, India
Felix Chidozie Department of Political Science, Covenant University, Nigeria
Nidhi Chowdhary Assistant Professor, Political Science, Lalbaba College, India
Koushik Das Assistant Professor in Economics, Shyampur Siddheswari Mahavidyalaya, India
Sourav Kumar Das Department of Economics, Vidyasagar University, India
Hasan Dinçer Associate Professor, The School of Business, İstanbul Medipol University, Turkey
Moses Metumara Duruji Department of Political Science, Covenant University, Nigeria
Favour Urenma Duruji-Moses Department of Political Science, Covenant University, Nigeria
Richardson Kojo Edeme Department of Economics, University of Nigeria, Nigeria
Chisom Emecheta Department of Economics, University of Nigeria, Nigeria
Mousumi Ghatak Assistant Professor in Political Science, Pingla Thana Mahavidyalaya, India
Somdatta Goswami Assistant Professor in Economics, Loreto College, India
Lawal Adedoyin Isola Department of Accounting and Finance, Landmark University, Nigeria
Enrico Ivaldi University of Genoa, Genoa, Italy
Sebak Kumar Jana Professor of Economics, Vidyasagar University, India
IseOlorunkanmi O. Joseph Department of Political Science, University of Kwazulu-Natal, South Africa
Asim Kumar Karmakar Assistant Professor of Economics, Jadavpur University, India
Hilal Yildirir Keser Associate Professor, Department of International Trade and Logistics, Bursa Technical University, Turkey
Raj Kumar Kothari Department of Political Science, Vidyasagar University, India
Nanna Charlotte Lord-Mallam Department of Political Science and Defence Studies, Nigerian Defence Academy, Nigeria
Amit Majumder Assistant Professor in Commerce, Bijoy Krishna Girls’ College, India
Debashis Mazumdar Professor of Economics, The Heritage College, India
Arundhati Mukherjee Assistant Professor in Economics, Berhampore Girls’ College, India
Sovik Mukherjee Department of Economics, Faculty of Commerce and Management Studies, St. Xavier’s University, India
Debasish Nandy Associate Professor, Department of Political Science, Kazi Nazrul University, India
Chigozie Nelson Nkalu Department of Economics, University of Nigeria, Nigeria
Ozoemena Stanley Nwodo Department of Economics, University of Nigeria, Nigeria
Oliver Ejike Ogbonna Department of Economics, University of Nigeria, Nigeria
Faith Osasumwen Olanrewaju Department of Political Science, Covenant University, Nigeria
Sudhakar Patra Professor of Economics, Berhampur University, India
Anjan Ray Chaudhury Department of Economics, Durgapur Government College, India
Megnath Routh Contractual Lecturer, Sonarpur Mahavidyalaya, India
Ashish Kumar Sana Professor of Commerce, University of Calcutta, India
Partha Pratim Sengupta Department of Humanities and Social Sciences, National Institute of Technology Durgapur, India
Dipayan Singha Contractual Whole time Lecturer, Lalbaba College, India
Madhabendra Sinha Department of Humanities and Social Sciences, National Institute of Technology Durgapur, India
Rajamanickam Srinivasan UMISARC, Pondicherry University, India
Ezebuilo Romanus Ukwueze Department of Economics, University of Nigeria, Nigeria
Serhat Yüksel Associated Professor, İstanbul Medipol University, The School of Business, Turkey

About the Authors

Asaleye Abiola, PhD, is a Faculty Member in the Department of Economics, Landmark University, Nigeria, with a number of publications in reputable journals.

Henry Thomas Asogwa has a MSc in Economics from the University of Nigeria and is currently a PhD Student at Nnamdi Azikiwe University, Awka, Anambra State, Nigeria.

Sema Ay, PhD, is Associate Professor, Department of International Trade and Logistics, Bursa Uludag University, Turkey. She has several papers on Quantitative Economics published in internationally reputed journals.

Babajide Abiola Ayopo, PhD, is Associate Professor (Development Finance) in the Department of Banking & Finance, College of Business and Social Sciences, Covenant University, Ota, Nigeria. She is Associate Member of the Institute of Chartered Accountant of Nigeria (ICAN), and a Member of American Finance Association.

Dibyendu Banerjee, PhD, is Assistant Professor of Economics at Serampore College, Hooghly, West Bengal, India. With his specialization in trade development and labor economics, he has published a number of research articles in many renowned international journals.

Priyanka Bhaduri is currently a PhD Research Scholar in the Department of Political Science, Vidyasagar University, West Bengal, India. Her area of PhD research is International Relations.

Mainak Bhattacharjee has completed his master’s degree in Economics from Jadavpur University Kolkata, West Bengal, India. He is currently teaching at Loreto House, Kolkata as Assistant Professor in Economics. His areas of interest in regard to research are Macroeconomics, International Economics, and Game Theory.

Rajib Bhattacharyya, Ph.D (Economics), is at present an Associate Professor in Economics, in the P.G. Dept. of Commerce, Hooghly Mohsin College (W.B.E.S.). He has 18 years of teaching experience at UG and 9 years at P.G. level. His fields of interests are International Trade and Finance, Development Economics, Women and Development. He has contributed a good number of articles in national and international journals/ books.

Santanu Bisai, PhD, is working as an Assistant Professor in Economics at Syamaprasad College, Kolkata, West Bengal, India. His fields of interests are Agricultural and Rural Economics, and Microfinance. He has contributed a good number of articles in national and international journals.

Bappaditya Biswas, PhD, is Assistant Professor in Commerce, The University of Calcutta. He has about 12 years of teaching and research experience in the related fields of the subject.

Işin Çetin, PhD, is Asistant Professor, Department of Econometrics, Giresun University, Turkey. Her fields of interests are Qualitative Econometrics, Quantitative Econometrics, and Spatial Econometrics.

Saptarshi Chakraborty works as Associate Professor of Economics and Principal in the Panchakot Mahavidyalaya, Purulia, West Bengal, India. He is also a Guest Faculty teaching MCom at Kazi Nazrul University, Asansol, West Bengal, India. He is the Coeditor of an international, refereed, multidisciplinary journal, PANCHAKOTesSAYS.

Tonmoy Chatterjee, PhD, is presently Assistant Professor in Economics at Ananda Chandra College, Jalpaiguri, West Bengal, India. His area of research is Theoretical Economics. Dr Chatterjee has number of publications in reputable journals and books.

Felix Chidozie, PhD, is a Lecturer in the Department of Political Science and International Relations, Covenant University, Ota, Nigeria. As a well-published academic, his current area of research is in Comparative Development Models of Emerging Market Economies, Regional Governance Issues, Conflict Issues in Africa, and Foreign Policy.

Nidhi Chowdhary works as Assistant Professor in the Department of Political Science at Lalbaba College, Howrah, India. Currently, she is pursuing her PhD from Presidency University, Kolkata. Her research interests lies in the fields of global concern which includes Human Rights, Peace Studies, Tribal Studies, Migration, and Terrorism.

Koushik Das, PhD, is presently Assistant Professor in Economics in Shyampur Siddheswari Mahavidyalaya, affiliated to University of Calcutta, and Guest Lecturer in the Department of Commerce, University of Calcutta. His research interests include International Economics, Econometric Methods, and Financial Development.

Sourav Kumar Das teaches Economics at the Lalbaba College, Howrah, India. Currently, he is working on Rural Development, Tribal Livelihood, Consumption Pattern, and Terrorism. He also edited books on Tribal Development and Issues on Globalization.

Hasan Dinçer, PhD, is an Associate Professor of Finance at Istanbul Medipol University, Istanbul, Turkey. He has more than 100 scientific articles and some of them are indexed in SSCI. He is also editor of many different books published by Springer and IGI Global.

Moses Metumara Duruji, PhD, is Senior Lecturer and former Head of Department, Political Science and International Relations, Covenant University, Ota, Nigeria. He is a grant holder of the Harry Frank Guggenheim Foundation program for young African scholars.

Favour Urenma Duruji-Moses holds a bachelor’s and master’s degree in International Relations obtained from Covenant University, Ota, Nigeria. She is a Researcher and also an Entrepreneur. She is the Managing Director of Destewards Enterprises, Ota, Nigeria.

Richardson Kojo Edeme, PhD, is a Lecturer in the Department of Economics, University of Nigeria, Nsukka. His areas of research interest include Public Finance, Applied Microeconomics, and Health Economics.

Chisom Emecheta is presently Lecturer in the Department of Economics, University of Nigeria. Her area of specialization is Development Economics.

Mousumi Ghatak is Assistant Professor in Political Science at Pingla Thana Mahavidyalaya, Paschim Medinipur, West Bengal, India. Her area of interest includes Public Administration, International Relations, Trade Union Politics, and Women Empowerment.

Somdatta Goswami is currently serving as Assistant Professor in Economics at Loreto College, Kolkata, India. She has research interests in empirical economics and development economics.

Lawal Adedoyin Isola, PhD, is Lecturer at the Department of Accounting and Finance, Landmark University, Omu, Aran, Nigeria. He has published extensively in reputable journals and reviews for a number of journals such as African Development Review (Wiley); The Quarterly Review of Economics and Finance (Elsevier).

Enrico Ivaldi, PhD, is currently aggregate professor of Statistics at the Department of Political Science of the University of Genoa. He completed his PhD in Applied Economics and Quantitative Methods (XVII cycle) at the University of Genoa and is the author of over 80 scientific publications. His research interests lie in Social Statistics.

Sebak Kumar Jana, PhD, is currently Professor in Economics and Head of the Department of Economics with Rural Development, Vidyasagar University, West Bengal, India. His areas of research includes Environmental and Resource Economics and Economics of Education.

IseOlorunkanmi O. Joseph, PhD, is presently a Faculty Member in the Department of Political Science, University of Kwazulu-Natal, South Africa, with experience of publishing articles in reputed journals.

Asim Kumar Karmakar, PhD, is Assistant Professor in Economics, School of Professional Studies, Netaji Subhas Open University, Kolkata, India. He is presently the Executive Member of the Indian Economic Association (IEA) and The Indian Econometric Society (TIES).

Hilal Yıldırır Keser, PhD, is Associate Professor, Department of International Trade and Logistics, Bursa Technical University, Turkey. Her particular interests are in the areas of Economic Development, Regional Development, National Competitiveness, Economic Geography, Transport Economics, International Trade and Trade Logistics.

Raj Kumar Kothari, PhD, is currently the Professor of Political Science at Vidyasagar University, West Bengal, India. He has published a number of books and research articles in the field of International Relations, his specialised discipline. Prof Kothari has also taken part in more than 50 international, national and state level seminars and conference across the globe.

Nanna Charlotte Lord-Mallam holds a PhD in Defence and Strategic Studies. As an academic, she has many publications to her credit. Her areas of research interest are conflict management, gender, and Security issues. She is currently Head, Department of Political Science and Defence Studies, Nigerian Defence Academy, Kaduna.

Amit Majumder, MCom, MPhil, MBA (Finance), PhD (Com), PhD (Commerce, CU), is presently working as Assistant Professor of Commerce (St III) and Head of the Department (UG & PG), Bijoy Krishna Girls’ College, Howrah, since last 15 years. He is also a visiting Faculty, Department of Commerce, University of Calcutta, India.

Debashis Mazumdar, PhD, is presently Professor of Economics at The Heritage College, Kolkata, West Bengal (India). His fields of interests are Microeconomics, Development Economics, International Trade and Finance. He has contributed a good number of articles in national and international journals.

Arundhati Mukherjee is currently serving as Assistant Professor in Economics at Berhampur Girls’ College, West Bengal, India. She is pursuing her PhD level works under Kalyani University. She has research interests in macroeconomics, information economics and development economics.

Sovik Mukherjee is at present Assistant Professor in Economics, Department of Economics, Faculty of Commerce and Management Studies, St Xavier’s University, Kolkata, India. His current research interests lie in the areas of applied game theory in Industrial Organization, Economics of Criminology and Social Sustainability and Applied Growth Econometrics.

Debasish Nandy, PhD, is an Associate Professor and Head, Department of Political Science, Kazi Nazrul University, West Bengal, India. His research interests include Indian Foreign Policy, South Asian politics and International Relations.

Chigozie Nelson Nkalu is a Lecturer in the Department of Economics, University of Nigeria, Nsukka-Nigeria. He obtained an MSc in Economics from University of Nigeria, specializing in Development Economics. His research interest is in the area of Development and Monetary Economics.

Ozoemena Stanley Nwodo teaches undergraduate level Public Sector Economics and Macroeconomics at Coal City University, Enugu, Nigeria. A PhD Economics student of the University of Nigeria, Nsukka with research interests in Public Sector Economics, Development Economics, Monetary Economics and International Economics. He is an associate member of UNCTAD virtual institute with several publications to his credit. He is eager to combine his academic background, research skills and community service experience in the planning and implementation of projects in promotion of economic, political and environmental values in Africa.

Oliver Ejike Ogbonna has his MSc in Economics and is a young Lecturer in the Department of Economics, University of Nigeria, Nsukka. His research interests include Development Economics, Trade and Investment, Monetary Economics, and Financial Economics.

Faith Osasumwen Olanrewaju, PhD, is a Lecturer in the Department of Political Science and International Relations Covenant University, Ota, Ogun State, Nigeria. Her research focuses on Displacement, Human rights, Conflict, Gender Issues, and Security.

Sudhakar Patra, PhD, is presently working as Professor and Head, Postgraduate Department of Economics, Berhampur University, Berhampur, Odisha. He has 28 years of teaching and research experience in different Government Colleges, Fakir Mohan University, Balasore, Ravenshaw University, Cuttack and Berhampur University, Odisha.

Anjan Ray Chaudhury, PhD, is Assistant Professor in Economics at Durgapur Government College, West Bengal, India. He obtained his master’s degree in Economics from the University of Calcutta. He got the research fellowship offered by University Grants Commission and worked as a full-time research fellow at the Institute of Development Studies, Kolkata.

Megnath Routh, MCom, is presently working as a College Contractual Whole Time Lecturer at Sonarpur Mahavidyalaya since 2017. Mr Routh had contributed in two edited volumes, three nationally and internationally acclaimed peer-reviewed and referred journals.

Ashish Kumar Sana, PhD, is Professor of Commerce, The University of Calcutta. He has about 20 years of teaching and research experience and has a list of publications in reputed journals.

Partha Pratim Sengupta, PhD, is Professor of Economics, Department of Humanities and Social Sciences, National Institute of Technology Durgapur, India. He has teaching experience of 34 years, out of which 20 years of teaching at PG level and research.

Dipayan Singha, MCom, is presently working as College Contractual Full-time Lecturer at Lalbaba College since 2017. He is also serving as a Visiting Faculty, Department of Commerce, Ramsaday College, AMTA, since 2016.

Madhabendra Sinha, MSc and MPhil, is currently a Senior Research Fellow in Economics at Department of Humanities and Social Sciences, National Institute of Technology Durgapur, India. His research interests include International Economics, Time Series Econometrics, Open Economy Macroeconomics, Development Economics and Applied Econometrics, etc.

Rajamanickam Srinivasan is a PhD scholar with UMISARC, Pondicherry University, India. He has authored book chapters on “Environment and Sustainable Development in South Asia”; “Local Government in India” and “Women, Armed Conflicts and Violence: An IHL and Indian Legal Perspective”.

Ezebuilo Romanus Ukwueze, PhD, is Senior Lecturer at the Department of Economics, University of Nigeria, Nsukka in Enugu State, Nigeria. He has a number of publications in international journals and edited books.

Serhat Yüksel, PhD, is Associated Professor, İstanbul Medipol University, The School of Business, Turkey. He has published more than 80 scientific articles, some of which are indexed in SSCI. He is also editor of many different books published by Springer and IGI Global.

Acknowledgments

After devoting a long time on the stages from planning to execution of the proposed book titled, The Impact of Global Terrorism on Economic and Political Development: Afro-Asian Perspectives, it is now an unbelievable pleasure to proclaim from my part as an editor that the proposed book has been unveiled. The ultimate achievement in creating such a huge volume could not have been accomplished if the contributions of an overabundance of academicians all around the world were not coupled. Hence, it would be remiss of me not to recognize the contributions of the involved academicians and other members of the society directly or indirectly associated with the project.

First, I must acknowledge the Emerald Publishing team for approving the proposal and continuously guiding me at all stages of development of the book. Second, I am grateful to my research guides Professor Soumyen Sikdar of the Indian Institute of Management, Calcutta, India, and formerly Professor Sarmila Banerjee of Calcutta University, India, for persistently encouraging me to undertake such a project. Third, I must express my gratitude to Dr Amaresh Das and Dr Frank Martin of the College of Business, Southern University at New Orleans, USA; Dr Enrico Ivaldi of the University of Genoa, Italy; and Professor and former Vice Chancellor Asis Kumar Banerjee, Calcutta University, for their seamless efforts in guiding me throughout the entire project. Fourth, I should honor all the contributing authors for their valuable chapter contributions and for their patience during such a long-lasting project. I must acknowledge the value they have added to the existing literature through this volume.

Last but not least, I must be grateful to my parents, wife, and daughter, and other members of the family for their continuous influence, support, and sacrifice in carrying out the lengthy project. Of course, no one other than me, as the editor, takes responsibility for any errors that appear in the book.

Ramesh Chandra Das

Editor

Introduction

The Global Terrorism Index, 2017, reports that the deadliest terrorist group in the world is Boko Haram, not the Islamic State in Iraq and Syria (ISIS). The reason behind such argument is that the growth of the former in terms of killing records is far away from that of the latter. But, if we look at the pervasiveness of the two groups, the second one stands first and scores much higher points compared with the first one as the first is now controlling a major part of the Middle East countries. However, the first one is still within the territory of Nigeria.

Starting from the Iraq crisis and now in Syria, the ISIS has broadened its networks and accelerated its wealth position today and threatened the nearest countries like Turkey, Iraq, Jordon, Lebanon, and Syria itself and also the world economy as a whole. The terrorist activities in the post-World War II phase have changed the dimensions of international as well as of internal conflicts from country to country and to groups depending on the religious sentiments, local political demands, ethnic groups, etc. The countries of Middle East and South Asian regions were pronounced to be the most affected due to terrorists’ activities, and the so-called developed countries of the West were among the least affected by these types of anti-national activities. But the Western countries’ dreams of keeping their citizens under safety and peace broke when the al-Qaeda-led terrorist attack demolished the pride of the USA, The World Trade Centre, and reduced it to Ground Zero. It is as famous as 9/11 attack in the year 2001. The September 11 attacks were a series of four coordinated terrorist attacks by the Islamic terrorist group al-Qaeda on the USA on the morning of Tuesday, September 11, 2001. The attacks killed 2,996 people, injured over 6,000 others, and caused at least US$10 billion in infrastructure and property damage. The initial response to these terrorist acts was a knee-jerk military attack led by the USA on the bases of al-Qaeda and its host Taliban in Afghanistan. As the dust settled in the mountains of “Tora Bora,” the international society shifted its attention to a much more serious business of understanding the composition of terrorism and various other issues related to it. Influenced by these developments, South Asia also witnessed renewed interest in terrorism, which even before September 11 has been a substantial security threat for the countries in the region. USA, backed by most of the countries in the West and some from the third-world belt, showed its vengeance by attacking the residence of the al-Qaeda leader, Osama bin Laden, in Abbottabad of Pakistan, on May 2, 2011. The palace of al-Qaeda leader was demolished, and he was dead on the spot. In the aftermath, the strength of the al-Qaeda group militants became dampened. But, the internal war furious in Syria in 2011 and the unstable government in Iraq together provided a perfect opportunity for the al-Qaeda militants to revive. Syria was in chaos, and the Iraqi jihadists established secure bases of operations there, raising money and winning new recruits to their cause by capsizing the oil wells in the country. Their ambitions grew along with their organization, expanding to include Syria as well as Iraq. Iraqi jihadists, by 2013 calling themselves the Islamic State of Iraq and Syria (ISIS) to reflect their new, broader orientation, also faced less pressure in Iraq with the departure of US forces at the end of 2011. The world then faced challenges from a conglomerated form of militancy under the common umbrella of ISIS.

Terrorist activities put a burden on the economy and society in terms of loss of GDP levels, increase in unnecessary military expenditure at the cost of social and economic developments, disincentives to the foreign investors, loss of diplomatic powers at the global levels, social unrest, and increase in youth unemployment, poverty and destitutions, political violence, among others. According to Global Terrorism Database (GTD), the ten countries suffering from the biggest economic impacts of terrorism in the year 2015 are all conflict-affected states in the Middle East and North African, sub-Saharan African, and South Asian regions. Iraq is the country most affected by the economic impact of terrorism, amounting to 17 percent of its national GDP. Afghanistan from South Asian region stays in the second position in the top list of ten with a loss of GDP amounting to 16.8 percent. Another country in the region is Pakistan which stays in the 18th position with the loss of 2.8 percent. The rank of Afghanistan in the global terrorism index for the year is second, carrying the value of 9.44 just after Iraq and Pakistan at fourth position with the value of 8.63. Although India stays at the seventh position in terms of the index value (7.48), its economic cost is well below 2 percent of GDP. The total economic impact of violence at the global level reached US$13.6 trillion in 2015, which is 13.3 percent of global GDP.

Under the backdrop, this book seeks to reopen the analytical aspects of the effect of global terrorisms on economic and political outputs at the world level with a special emphasis upon the economies in the Afro-Asian regions. After a series of scrutiny and suggestions by the review teams of the stakeholder publisher, Emerald Publishing Limited, the title is shortlisted to The Impact of Global Terrorism on Economic and Political Development: Afro-Asian Perspectives.

Keeping in mind the coverage as stated in the objectives, the book has been structured into two sections presenting 28 finalized chapters. Section I covers the discussions on general issues of impacts of terrorist activities upon different economies and groups in theoretical and empirical aspects. Section II wraps up the economic and political aspects of terrorism specifically on the economies of Afro-Asian regions. There are 11 chapters in Section I and 17 chapters in Section II. The brief outlines of all the chapters are presented below.

Section I

Chapter 1 structured a general equilibrium trade model with a special emphasis on terrorist activities to capture the impact of international trade on the production system of our stylized developing economy and has shown that the gains from trade in the presence of terrorism-augmented externality totally depend on the pattern of trade or, in short, on the form of capital inflow.

Chapter 2 investigates the association of terrorist activities with the levels of developments, military expenditure, and poverty and unemployment levels of the countries, and arrives at the conclusion that the terrorism of high intensity is more pronounced in the countries with the low and medium levels of economic development than in those with high level of economic development.

Chapter 3 analyses the issue of anti-national activities using a static general equilibrium framework and the study reveals that, contrary to the common wisdom, stringent governmental regulatory policies expand the anti-national activities and may produce a negative impact on national income.

Chapter 4 assesses the influences of conflicts and terrorist activities on the growth of per-capita GDP in 44 countries from developed and developing regions for 1970–2015 and reveals that terrorist activities have a significant growth-limiting effect and the extent and significance of impacts are higher in the case of developing economies.

Chapter 5 makes critical reviews of existing literature on the economic impacts of terrorism in all groups of economies and measures the impact of terrorism on the economic growth by considering the connection between intensity of military expenditure made by a country and the security threat fit faces as impinged by terrorist activities. It evinces significant influence of terrorism on the distribution of military expenditure and hints at the intensity of military spending being considerably triggered by the extent of exposure to terrorism.

Chapter 6 attempts to test from theoretical and historical backgrounds on whether liberal states are more vulnerable to terrorism than any other political systems by making a comparative study between democratic and non-democratic regimes to locate the recent trends of terrorism. It concludes that terrorist activities are not only confined within the territory of liberal societies alone, rather engulfed many parts of the globe including different non-liberal societies as well.

Chapter 7 tries to show qualitatively to what extent the method adopted by the US after 9/11 attacks, popularly called the global war on terror (GWOT), has been successful in eliminating terrorism from the world. It concludes that the steps taken in GWOT are not the proper way in combating terrorism and recommends that these kinds of punishment may lead the countries to conclude that no matter how much the support for terrorism is reduced, the relationship with Washington will remain poisoned. An active public diplomacy program is, thus, needed.

Chapter 8 examines whether economic effect of terrorism is more in developing countries and Middle East than in other developed countries. The study arrives at the conclusion that terror effect is a common problem around the world, especially in the Middle East. But if the existence of international and intercontinental interaction is considered, terror is a serious problem not only for Middle East countries but also for the others.

Chapters 9 and 10 discuss the issues of terrorists’ financing from different angles. While the former highlights different sources of financing, the latter concentrates on the use of cryptocurrencies as one of the prime sources of terrorism financing; it attempts to see whether cryptocurrency trading and magnitudes of terrorists’ incidences are associated in the long-run framework in a panel of countries.

Chapter 11 intends to explore the effects of joint governmental policies of India and the USA in combating international terrorism and theoretically establishes that both the countries treat themselves as complements to each other.

Section II

Chapter 12 analyzes the risk of violent conflict with the global conflict risk factors in the Middle East economies by using an integrated fuzzy decision approach. It concludes that social dimension has the highest importance of global conflict risk index and that Syria, Libya, and Saudi Arabia are the countries that have high conflict risk.

Chapter 13 investigates the co-movements of the terrorists’ activities and MNCs’ decision on FDI in the panel of selected developing countries of Asia and Pacific regions over the period of 1990–2016 and shows that FDI inflows are negatively influenced by terrorists’ activities in the developing economies in those regions.

Chapter 14 analyses the impact of terrorism in South Asian countries, and the results show that terrorist activities have adversely affected the human development in the South Asian region. Besides, the human developments of the security forces have been highly hampered by the fatalities in security forces and that of terrorists is relatively low. The civilians are relatively less affected by the fatalities as the correlation results show a moderate value. Pakistan is the worst-hit country in this respect.

Chapter 15 focuses on the determinants of terrorism in Nigeria using VAR model. The results show that ethnic violence, absence of good governance, presence of corruption, and military expenditure rise are part of the causes of terrorism in the country.

Chapter 16 examines both the short- and the long-run association between terrorism, defense expenditure, and its impact on GDP taking time series evidences from some selected countries of Asia–India, China, Bangladesh, and Pakistan during the period 1990–2014. The results show that there are long-run associations among the three variables for Pakistan only.

Chapter 17 concentrates on the impact of economic variables on terrorism in India and proves that the level of development certainly reduces the terrorist activities of a country. Social and economic inequality also has a positive significant effect on terrorist activities in India.

Chapter 18 examines the impact of terrorism on FDI in Nigeria and obtains that military expenditure, episode(s) of ethnic violence, and terrorists’ attacks have all negative and significant impacts on foreign direct investment in Nigeria. The implication is that the reduction in FDI observed in data is attributed to terrorism.

Chapter 19 analyzes the role of economic deprivation in the determination of social crimes in the presence of infrastructural and socioeconomic developmental factors in the context of India. The discussions of results stress on the importance of job creating growth playing the role of generating income and employment simultaneously with required redistributive effects and those of poverty alleviation that will be conducive for reducing the magnitudes of social crimes in the country.

Chapter 20 inspects Nigeria’s relationship with the immediate neighboring countries in the fight against terrorism. Specifically, it probed the challenges of national security following the internationalization of Boko Haram terrorist threat particularly around the Lake Chad basin and the responses of countries like Cameroon, Chad, and the Niger.

Chapter 21 examines relationship between terrorism and military expenditure and that of terrorism with foreign capital inflow empirically with Indian data. Results show that anti-terrorism policy in the form of greater military expenditure actually increases terrorism in India; however, cointegration test does not find the presence of any co-integrating relationship between foreign investment and terrorism.

Chapter 22 devotes its efforts to discuss the interaction between terrorism, growth, and fiscal variables in Nigeria using real per-capita income, government revenue, government expenditure, and defense expenditure. The findings show that terrorism is associated with low economic growth which has the potency to reduce government expenditure.

Chapter 23 sheds lights upon finding out the extent of damage in economic activities as well as in the process of implementation of regional development programmes caused particularly by the “Maoist Movements” in the “Red Corridors” in India. Results show that the growth of self-help groups (SHGs) formed particularly by the poor women of these areas under the rural development and self-employment program of the government was severely affected by the terrorist activities; there is a positive correlation between the incidences of defunct SHGs and the left-wing extremism in Maoist-prone regions of West Bengal during that period.

Chapter 24 highlights the recent trends in feminization in terrorist activities in different groups of terrorists, particularly in the Boko Haram Group in Nigeria. Using the survey method of data gathering which conforms more to qualitative research design, the study exposed the evidence of a shift by Boko Haram to include women in its operations in response to increased pressure on male operatives.

Chapter 25 investigates whether loss of economic and political confidence is accepted as a factor affecting economic wellbeing of the societies from the northeast region of India that has witnessed insurgency for six decades. It observes that the proliferation of armed groups and the government response to control insurgency have not produced an environment which invites investor confidence in terms of FDI.

Chapter 26 investigates the linkages between economic growth proxy by gross domestic product per capita and other fundamental variables such as inflation, unemployment, inequality gaps among others, and terrorism in Nigeria. Results reveal that a compelling co-integrating relationship exists among the variables. It further reveals that unemployment, inequality, poverty, inflation among others Granger causes terrorism. It stresses that the have-not hypothesis explained the causes of terrorism in Nigeria.

Chapter 27 tries to examine the nature of terrorism at the global level with a special reference to India and proposes for formation of international laws and co-ordinations to combat it. It recommends formation of strong laws at the international level and joint movements of all the international community to fight against terrorism.

Finally, Chapter 28 makes an effort to identify terrorism as a challenge to democracy as well as to good governance in India. It reveals that transparency in administration, strengthening the internal and external security system, development of consciousness, etc., can help a country immensely to eradicate the problem of terrorism.

The summary of the chapters included in the book depicts the severity of terrorist activities at the global level in general, and the Africa and Asia regions, in particular. Not only the economic consequences, but also the political and demographic implications are serious enough to demand active intervention, dialogues, law formation, etc., to mitigate the issues. This book has tried hard to accommodate all the issues and provided some feasible solutions to combat terrorism. I, as an editor, honestly recommend that the title will be helpful to the readers, researchers of the disciplines, and the policymakers of different countries and regions.

Ramesh Chandra Das

Editor

Prelims
Foreword
Section I Global Terrorism and Economic and Political Systems: An Overall Assessment
Chapter 1 Terrorism, Public Expenditure, and Trade Policy: A Theoretical Inquiry
Chapter 2 Terrorism: Its Economic Perspective
Chapter 3 A Theoretical Examination of the Effect of Anti-national Activities on National Income
Chapter 4 Macroeconomic Impacts of Terrorist Activities in Developed and Developing Countries
Chapter 5 Terrorism: Its Persistence and Economic Cost
Chapter 6 Terrorism and the Liberal Order: A Conceptual Framework
Chapter 7 Global War on Terror: Policies, Propaganda, and Perspectives
Chapter 8 Intercontinental and Regional Evaluation of Terrorism and Its Economic Effects
Chapter 9 Issues in Terrorism Financing: An Analysis
Chapter 10 A Conceptual Study on the Emergence of Cryptocurrency Economy and Its Nexus with Terrorism Financing
Chapter 11 In Search of Joint Governmental Policy against International Terrorism: India and the United States of America
Section II Impact of Terrorism on the Economic and Political Systems of the Afro-Asian Countries
Chapter 12 Analyzing the Possibility of Violent Conflict in the Middle East Economies Using Determinants of Global Conflict Risk Index with an Integrated Fuzzy Multicriteria Decision Making Model
Chapter 13 Terrorist Activities and Decisions of MNCs on Foreign Direct Investment in Developing Economies in Asia and the Pacific Region
Chapter 14 Economic Consequences of Terrorism in South Asia
Chapter 15 The Determinants of Terrorism in Nigeria
Chapter 16 Terrorism, Defense Expenditure, and their Impact: Evidence from Selected Countries of Asia
Chapter 17 An Inquiry into the Causes and Effects of Contemporary Terrorism in India
Chapter 18 Impact of Terrorism on Foreign Direct Investment in Nigeria
Chapter 19 Crime and Social Deprivation across States in India – Insights from a Panel Data Discourse on Social Sustainability
Chapter 20 Nigeria’s Relations with Her Neighbors and the Fight against Terrorism: An Analysis of the Multinational Joint Task Force
Chapter 21 Terrorism, Military Expenditure, and Foreign Capital Inflow: An Empirical Study for India
Chapter 22 Growth and Fiscal Effects of Terrorism in Nigeria
Chapter 23 Terrorist Movements and Regional Development in West Bengal (India)
Chapter 24 Women and Terrorism in Nigeria
Chapter 25 Survey on Political Confidence as a Factor in Economic Growth: Northeast India
Chapter 26 Examining the Linkages between Economic Growth and Terrorism: Evidence from Nigeria
Chapter 27 The Rise of Devil’s Whirlpool Called Terrorism and India’s Standpoint to Combat It
Chapter 28 Terrorism: A Challenge to Good Governance in India
Index