Over the last three decades, a considerable amount of work has been conducted in the field of peace studies, conflict …

military spending on growth conditional upon conflict exposure is positive and significant across all specifications, albeit … the result is specific to internal instead of external conflict. …

Macroeconomic costs of conflict are generally very large, with GDP per capita about 28 percent lower ten years after … conflict onset. This is overwhelmingly driven by private consumption, which falls by 25 percent ten years after conflict onset …. Conflict is also associated with dramatic declines in official trade, with exports (imports) estimated to be 58 (34) percent …