The economic aftermath of the 1960s riots: evidence from property values - a review.

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dc.contributor.authorAbeng, M.O.
dc.date.accessioned2018-11-06T12:17:54Z
dc.date.available2018-11-06T12:17:54Z
dc.date.issued2008-09
dc.description.abstractIn examining the causes of riots in the United States, the authors identified discriminatory norms and public policies, large capital gaps in income and wealth, relatively low demand for unskilled labour due largely to macroeconomic and technological developments, rural–urban migration, rising rates of crimes and unemployment as some of the predominant causative factors. Using city-level and household-level data, the paper found persistent negative and economically significant correlations between riots severity and black-owned property values. The paper attempted to capture the omitted variables that could misstate riots’ true impact on property values by controlling series of city characteristics such as pre-existing trend in housing values, pre-riot city size, black population size, manufacturing, employment, residential segregation, crime and region. The authors adopted the instrumental variable approach to estimating the riot effect and observed that riots have strong negative impact on property values. The paper further took a cursory look at the historical chronology of violent race-related civil disturbances in the US from the early 18th century eliciting the causes, character, magnitude, geographical spread, duration, location, targets, associated number of arrests, injuries, occurrence of arson, and deaths recorded. The severity of the riots were measured in absolute terms using five characteristics (deaths, injuries, arrests, arson and number of days of rioting) on a cumulative basis to form an index.en_US
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dc.description.provenanceMade available in DSpace on 2018-11-06T12:17:54Z (GMT). No. of bitstreams: 1 The economic aftermath of the 1960s riots.pdf: 37579 bytes, checksum: 579372ff71eb3535f73deb0b1bcd0c1a (MD5) Previous issue date: 2008-09en
dc.description.sponsorshipCentral Bank of Nigeriaen_US
dc.identifier.citationAbeng, M. O. (2008). The economic aftermath of the 1960s riots: evidence from property values- a review. Economic and Financial Review, 46(3), 91-96.en_US
dc.identifier.issn1957-2968
dc.identifier.urihttp://repo.cbn.gov.ng/jspui/handle/123456789/562
dc.language.isoenen_US
dc.publisherCentral Bank of Nigeria, Research Department.en_US
dc.relation.ispartofseriesVol. 46;No. 3
dc.subjectProperty value,en_US
dc.subjectUnited States of America (USA),en_US
dc.subjectRiots,en_US
dc.subjectUnemployment.en_US
dc.titleThe economic aftermath of the 1960s riots: evidence from property values - a review.en_US
dc.typeArticleen_US

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