Abstract
This paper investigates the environmental consequences of political uncertainty due to terrorism using a panel dataset of 158 economies from 1995 to 2020. The empirical findings show that terrorist activities lead to lower levels of carbon dioxide emissions, with severe terrorist activities having quantitatively larger impacts. This paper further analyzes the heterogeneity of impact across economies from two distinct perspectives, involving disaggregation by the level of democracy and by the political stability of economies. Results suggest that economies with a low democracy level and fragile situation are characterized by a significant impact of terrorism on carbon emissions. However, the impact on democratic and politically stable economies is insignificant.
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