Guidolin, Massimo; Ferrara, Eliana La - In: American Economic Review 97 (2007) 5, pp. 1978-1993
This paper studies the relationship between civil war and the value of firms in a poor, resource-abundant country using … microeconomic data for Angola. We focus on diamond mining firms and conduct an event study on the sudden end of the conflict, marked … by the death of the rebel movement leader in 2002. We find that the stock market perceived this event as "bad news …