The beginning of the 21st century was highlighted by the 9/11 incident and it marked the apogee of the era of international terrorism. Since 9/11, terrorism threats are more and more in the center of national and international political decisions. This strong interaction with domestic and foreign policies influences the global security policies. Many scholars relate terrorism with the principle of game theory and consequently they set terrorism within the perspective of neoclassical economics. As we often see terrorism attacks have an impact on the world market. Therefore, while debating on global security policies we cannot forget to discuss the likely impact on the macroeconomic level. How does the nature of international terrorism influence politics at home and abroad and how this in turn influences the economic sphere within nation? Terrorist attacks always inflict great suffering and sometimes important material damages. Behind the lost of human life and the destruction of infrastructures, terrorism attacks turn down foreign investments, create an incertitude climate, and establish distortion within the allocation of indirect costs coming from security policies which have to be taken. These important economic prejudices are only one consequence of terrorism. Human sufferings are worse.
The purpose of this paper is to examine the nature of international terrorism in the aftermath of 9/11 and its impact on the global economy and security. In the first part of the paper, I will analyze the economic impact of terrorism. I focus my research on some specific study case such as the Basque country, Israel, Greece, and Turkey which all suffer from terrorist activities since ca long time and in various sectors: tourism, commercial, investments. Naturally, I will also study the impact of 9/11 attacks on the US and the world economy. The second part of the research will concentrate on the consequences on the political scene. Since 9/11, transnational terrorism took an important place on the political agenda of major powers. International terrorist threats are present all the time and have an enormous impact on the economic and social life. Therefore, in this part of the research we will analyze the different views of global security policies. Finally, in the conclusion I will try to highlight the future of terrorism in relation with globalization.
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[...] The bomb that struck the World Trade Center has shed light on the urgency of implementing preventive measures against terrorism and to improve collaboration within the global security system involving all countries. However, we cannot hold the international coordination for granted because it is often ineffective and may fail for several reasons. The failure of coordination may be due to a greater extent by the fact that collective action against terrorism are likely to suffer from a well-known problem called “free riding problem”[12]. [...]
[...] For example, the effect on transport had direct repercussions on international business, and on contracts' negotiations. 9/11 also created damage on financial markets. The reinforcement of security policies especially in airports occasioned some losses in the alimentation sector and slowed down commercial activities with others countries. III. Global Security Structure The first part of this paper shows the huge impact that terrorism has on the economic and social life. Since 9/11, issues of national and global security seem to preoccupy everyone, especially leaders of western countries. [...]
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