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http://bura.brunel.ac.uk/handle/2438/14038
Title: | A Note on the Macroeconomic Consequences of Ethnic/Racial Tension |
Authors: | Spagnolo, N Arin, KP Koyuncu, M |
Keywords: | Ethnic Tension;Markov Switching;News;Racial Tension |
Issue Date: | 2017 |
Publisher: | Elsevier |
Citation: | Economics Letters,(2017) |
Abstract: | While many studies stressed the importance of ethnic fractionalization on long-term economic growth, neither ethnic fractionalization always leads to ethnic conflict nor the intensity of conflict is constant over time. To address this potential bias, we construct an ethnic/racial tension index by using the number of US news articles that contain certain keywords. Utilizing this index we test the predictions of a simple theoretical model in a Markov Switching framework which allows to identify the impact of ethnic/racial tension in different states of the economy. Consistent with our theoretical predictions, results show that the magnitude of the impact of ethnic/racial tension is larger during low-growth periods. |
URI: | http://bura.brunel.ac.uk/handle/2438/14038 |
ISSN: | 0165-1765 |
Appears in Collections: | Dept of Economics and Finance Research Papers |
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