TERRORISM AND ECONOMIC GROWTH IN SUB-SAHARAN AFRICAN COUNTRIES: A PANEL CAUSALITY ANALYSIS

Abstract

Terrorism and its economic costs have increased in recent years in the globalized world. Therefore, in the study, the mutual relationship between economic growth and terrorism in 18 Sub-Saharan African economies for the 2007-2019 period was investigated via causality analysis. The findings of panel level causality analysis pointed out a bilateral causality between economic growth and terrorism, but the findings of country level causality analysis between two variables changed depending on country specific economic and institutional characteristics.