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This study aims to assess terrorism activities to identify measures required to mitigate the rise of terrorism activities and their metamorphosis into organised criminal activity through the prevention, disruption and dismantling of sources of financing terrorism.

A qualitative methodology was adopted for this study using descriptive synthesis from recent publications and reports of reputable organisations, i.e. relevant grey literature, key informant interview and a focus group discussion. This triangulation approach was used to cross-validate the findings.

The findings revealed that terrorism financing is most likely linked to organised crime for generating revenues and is further used to finance the activities of terrorists.

Terrorists operate from places with little or no presence of governance and, better still, ungovernable spaces for carrying out legitimate businesses, raising internally generated revenues from protection fees, ransoms and taxes. This space further allows domestic collaboration with local criminal gangs to exploit natural mineral resources. If the market for these resources is across borders, international or transnational criminal groups collaborate with terrorists to move the goods and assist with financial services for the generated proceeds.

This study assessed the emerging links between terrorism financing and organised crime in Nigeria.

The paper aims to understand how state and non-state domestic terrorism impacts MNEs in foreign markets. Despite the burgeoning literature on terrorism within international business (IB), most research has focused on international terrorism, or terrorism generally. Consequently, there has been limited research examining how domestic or local based terrorism impacts foreign firms.

This is a conceptual paper.

Domestic terrorism is the most common form of terrorism in the world today and involves the state and non-state actors. Non-state domestic terrorism can be low intensity or high intensity. High intensity non-state-domestic terrorism typically involves regular and protracted political violence, along with inter-communal violence. This can expose MNEs to considerable operational, governance and legitimacy pressures.

The paper contributes to the gap in IB terrorism research with regards domestic or local based terrorism. Drawing on IB theory and critical terrorism research, the paper addresses the nature and impact of domestic terrorism within IB. The authors’ paper shows the operational, governance and legitimacy pressures of both state and non-state domestic terrorism for MNEs in host markets. While most IB scholars consider the threat of non-state terrorism for international firms, this study shows how domestic state terrorism benefits and constrains foreign firms.

The purpose of this study is to investigate the impact of terrorist attacks on the volatility and returns of the stock market in Tunisia.

The employed sample comprises 1250 trading day from the Tunisian stock index (Tunindex) and stock closing prices of 64 firms listed on the Tunisian stock market (TSM) from January 2011 to October 2015. The research opts for the general autoregressive conditional heteroscedasticity (GARCH) and exponential generalized conditional heteroscedasticity (EGARCH) models framework in addition to the event study method to further assess the effect of terrorism on the Tunisian equity market.

The baseline results document a substantive impact of terrorism on the returns and volatility of the TSM index. In more details, the findings of the event study method show negative significant effects on mean abnormal returns with different magnitudes over the events dates. The outcomes propose that terrorism profoundly altered the behavior of the stock market and must receive sufficient attention in order to protect the financial market in Tunisia.

Very few evidence is found on the financial effects of terrorism over transition to democracy cases. This paper determines the salient reaction of the stock market to terrorism during democratic transition. The findings of this study shall have relevant implications for stock market participants and policymakers.

The MENA region is very rich in terms of natural resources. At the same time, the MENA region has also been a victim of terrorism during the last few years. This study is an attempt to investigate whether there is any relationship between natural resources and terrorism in the MENA region.

We have focused on 15 resource-rich countries located in the MENA region for the period 2002–2019. We have applied appropriate econometric techniques and have also controlled for other dominant determinants of terrorism while studying the relationship between these two variables.

The results provide solid evidence in favor of the hypothesis that natural resources encourage terrorism. We find that natural resources have positively impacted terrorism. Besides, the natural resources, other factors such as per capita GDP, trade openness, political stability, domestic investment and government expenditures have negatively impacted terrorism. Moreover, the findings suggest that FDI and corruption are irrelevant in explaining terrorism while the findings regarding employment level and terrorism are unexpected. The obtained results are robust to alternative estimating methodologies.

The results have serious policy implications for the MENA region. The MENA region in general is suggested to devise appropriate policies regarding their huge natural resources so as to tackle the terrorism problem effectively. Similarly, paying favorable attention to trade liberalization, political stability, government expenditures, investment, rising income of the population in the presence of macroeconomic stability in the form of lower inflation would also help the MENA region to eradicate the problem of terrorism.

The available literature has largely ignored the role of natural resources in explaining the problem of terrorism. Therefore, this study has provided relatively new evidence regarding the determinants of terrorism.

Factors that may influence risk and/or vulnerability to young people’s involvement in terrorism are currently unclear. Understanding the factors that contribute to a young person’s risk profile is a high priority for Youth Justice Services to enable the development of targeted interventions and subsequent risk reduction. The purpose of this study is to systematically identify and critically review studies relating to young peoples’ involvement in terrorism to understand potential risk and/or vulnerability factors and the implications for intervention.

Literature was evaluated using the systematic review method. Twelve papers were selected for the systematic review according to the inclusion criteria.

Twelve factors emerged that indicated relevance to terrorism by young people and were combined into five overarching themes: contextual, social, psychological factors, trauma and use of time.

This systematic review is one of the first of its kind relating to terrorism by young people. The reported findings will be valuable to practitioners seeking to understand the risk and vulnerability factors related to terrorism by young people and the implications for intervention. Directions for future research are explored.

This study aims to investigate the impact of terrorism on financial inclusion that is achieved through automated teller machine penetration and bank branch expansion.

Eight countries that are the most terrorized countries in the world were analysed using the panel fixed effect regression model and the generalized linear model.

The results provide evidence that terrorism reduces the level of financial inclusion in countries experiencing terrorism, but the presence of strong legal institutions, accountability governance institutions and political stability governance institutions mitigate the adverse effect of terrorism on financial inclusion.

A growing literature has shown that terrorism affects the economy, yet little is known about its impact on financial inclusion.

This paper empirically examines the impact of terrorism on the insurance–growth relationship in the context of Middle East and North Africa (MENA) region, thereby attempting to address the unexplored area in the relevant literature.

The study considered MENA as it has been one of the terribly affected zones in the world during the study period. Panel data for the period (2002–2017) are sourced from reliable sources for 14 member economies of the MENA region.

After employing the suitable econometric procedures on the panel data, the results indicate that terrorism appears to have detrimental impact on the observed positive relationship between insurance and economic growth. In addition, trade openness seems to be the main driving force behind economic growth of the selected MENA countries. Surprisingly, the study suggests a negative association between the growth of physical capital and economic growth. Human capital has played a positive but insignificant role in improving economic growth as it is insignificant in majority of the specifications. The growth of labor force has although positively but insignificantly influenced economic growth. Finally, the results demonstrate that government expenditures and high inflation are harmful for growth.

The study investigated the impact of terrorism on the insurance–growth relationship for the first time, and hence policymakers of the MENA region are expected to be benefited enormously from the findings of the study.

The main objective of this research is to investigate if there is a long-term relationship between “terrorism” and sustainable “economic growth” in Big Ten Countries.

The data was tested via Panel ARDL Analysis. The growth rate (GR) is the dependent variable, and the “Global Terror Index (GTI)” is the independent variable as the terror indicator. The ratio of Foreign Direct Investment (FDI) to the Gross Domestic Product (GDP), and the ratio of External Balance (EB) to Gross Domestic Product (GDP) are included in the model as the control variables due to their effect on the growth rate. A Panel ARDL analysis is conducted to examine the existence of long-term co-integration between terror and the economy. The planning of the study, the formation of its theoretical and conceptual framework, and the literature research were carried out in 2 months, and the collection of data, the creation of the methodology and the analysis of the analyzes were carried out in 2 months, the interpretation of the findings and the development of policy recommendations were carried out within a period of 1 month. The entire study was completed in a total of 5 months.

Results showed that “Terror” has a negative impact on “Growth Rate” in the long term while “External Balance” and “Foreign Direct Investment” positively affect the Growth Rate. The coefficients for the short term are not statistically significant.

The sample is only limited to Big Ten including China, India, Indonesia, South Korea, Argentina, Brazil, Mexico, Turkey, Poland and South Africa. The period for annual data collection covers the years between 2002 and 2019 and due to the unavailability of data.

Considering the risks and the mutual negative effect that turns into a vicious circle between terrorism and the economy, it is necessary to eliminate the problems that cause terrorism in the mentioned countries, on the one hand, and to develop policies that will improve economic performance on the other.

Trustful law enforcement bodies have to be established and supported by all technological means to prevent terror. The conditions causing terror have to be investigated carefully and the problems causing terror or internal conflict have to be solved. International cooperation against terrorism has to be strengthened and partnerships, information, experience sharing have to be supported at the maximum levels.

It is certain that terror might have a negative influence on the performance of economies. But the limited number of studies within this vein and the small size of their sample groups mostly including single-country case studies require conducting a study by using a larger sample group of countries. Big Ten here represents at least half of the population of the world and different regions of the Globe.

This paper aims to examine the association between money laundering (ML)/terrorist financing (TF) risks (hereafter, money laundering risks) and democratic governance across 117 countries.

A cross-sectional design was used to examine the association between ML risks and democratic governance by a quantitative approach. The findings are based on annual ratings of 117 countries on ML/TF risks and democracy while controlling for criminality and peace. The data was compiled from the Basel Anti-Money Laundering/Countering Financing Terrorism Risks Index, the Economic Intelligence Unit (Democracy Index), the Global Initiative against Transnational Organized Crimes (Criminality Index) and the Institute for Economics and Peace Index for 2020.

A multiple linear regression model found a statistically significant negative association between democratic governance and ML risks (B = −0.354, t = −7.454, p = <0.001) and a significant positive association between criminality and ML risks (B = 0.242, t = 2.692, p = 0.008).

A cross-sectional design cannot determine causal inferences and generalization (Levin, 2006). The study only used a year to examine the hypothesis of a negative correlation between ML risks and democratic governance, thus making generalization difficult.

Extant literature examined ML, terrorism and AML diversely. There was a need to estimate the association between ML risks and democratic governance, especially globally, during a global crisis like COVID-19, when democratic principles, such as the rule of law, transparency and accountability, are challenged. Many personnel were laid off, thus limiting supervision for ML and TF. This study presents evidence of this association.

The Sustainable Development Goal (SDG) 16 outlines sustainability as associated with peace, good governance and justice. The perception of international tourists about security measures and risks is a key factor affecting destination choices, tourist flow and overall satisfaction. Thus, we investigate the impact of armed forces personnel, prices, economic stability, financial development and infrastructure on tourism.

This research used data from 130 countries from 1995 to 2019, which were divided into four income groups. This study employs a two-step generalized method of moments (GMM) technique and a novel tourism index comprising five relevant indicators of tourism.

A 1% increase in armed forces personnel expands tourism in all income groups – 0.369% High Income Countries (HICs), 0.348% Upper Middle Income Countries (UMICs), 0.247% Lower Middle Income Countries (LMICs) and 0.139% Low Income Countries (LICs). The size of the tourism-safety coefficient decreases from high to low-income groups. The impact of inflation is significantly negative in all panels, excluding LICs. The reduction in tourism was 0.033% in HICs, 0.049% in UMICs and 0.029% in LMICs for a 1% increase in prices. The increase in the global tourism index is more in LICs (0.055%), followed by LMICs (0.024%), UMICs (0.009%) and HICs (0.004%) for a 1% expansion in the gross domestic product (GDP)/capita growth. However, the magnitude of the growth-led tourism impact is greater in developing countries. A positive impact of foreign direct investment (FDI) inflow was found in all panels like 0.016% in HICs, 0.050% in UMICs and 0.119% in LMICs for a 1% increase in FDI inflow. The rise in the global tourism index is 0.097% (HICs), 0.124% (UMICs) and 0.310% (LMICs) for a 1% rise in the financial development index. The increase in the global tourism index is 0.487% (HICs), 0.420% (UMICs) and 0.136% (LICs) for a 1% rise in the infrastructure index.

Empirical analysis infers important policy implications such as (a) establishment of a peaceful environment via recruitment of security personnel, use of safe city cameras, modern technology and law enforcement; (b) provision of basic facilities to tourists like sanitation, drinking water, electricity, accommodation, quality food, fuel and communication network and (c) price stability through different tools of monetary and fiscal policy.

First, it explains the effect of security personnel on a comprehensive index of tourism instead of a single variable of tourism. Second, it captures the importance of economic stability (i.e., economic growth, financial development and FDI inflow) in the tourism–peace nexus.