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Economic Costs and Benefits of Combating Terrorism in the Transport Sector
Author(s) -
PalacMcMiken Evanor
Publication year - 2005
Publication title -
asian‐pacific economic literature
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.232
H-Index - 21
eISSN - 1467-8411
pISSN - 0818-9935
DOI - 10.1111/j.1467-8411.2005.00158.x
Subject(s) - terrorism , productivity , certainty , business , offset (computer science) , international trade , economics , risk analysis (engineering) , political science , economic growth , law , computer science , philosophy , epistemology , programming language
Countering the risks of terrorism imposes enormous costs. While it is impossible to remove completely the risk of terrorist attacks in the transport sector, measures designed to counter terrorism can add certainty and stability to the global economy, raise investor confidence and facilitate trade. Modelling suggests productivity losses associated with the increasing threat of terrorism can be more than offset by the positive effects of enhanced security. Nations have much to gain from cooperating to reduce the risk of terrorism.