Date of Award
8-1-2024
Degree Name
Master of Science
Department
Economics
First Advisor
Becsi, Zsolt
Abstract
Throughout human history, conflicts have profoundly impacted economic development, causing severe damage to infrastructure, disrupting economic activities, deterring investment, and straining government finances. However, most studies on this topic focus on either individual countries or specific conflict events, despite the availability of rich panel data. This study aims to explore the impact of conflicts on a country’s income, specifically GDP per capita, in a panel setting. It employs a two-way fixed effect (TWFE) counterfactual estimation method instead of a simple TWFE estimation to assess the causal effects of conflict. Our findings suggest that conflicts significantly reduce GDP per capita on average compared to countries without any conflict. This comprehensive analysis underscores the critical need for effective conflict resolution strategies to mitigate these economic impacts.
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