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Drakos, Konstantinos
Konstantinou, Panagiotis Th.
Year of Publication: 
Series/Report no.: 
Economics of Security Working Paper 48
Based on a trivariate panel VAR and utilizing Generalized Impulse Responses, we explored the dynamic impacts of terrorism and crime risks on public order and safety spending across European countries during the period 1994-2006. Our findings suggest that both a shock in terrorism risk or in crime, significantly increase the subsequent trajectory of public order and safety spending. As a by-product we find that public spending is ineffective in reducing observed crime or terrorism risks.
Panel VAR
Public Order and Safety Spending
Terrorism Activity
Document Type: 
Working Paper

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