Guidolin, Massimo; La Ferrara, Eliana - C.E.P.R. Discussion Papers - 2004
This Paper studies the relationship between civil war and private investment 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 …