Insecurity and Firm Displacement: Evidence from Afghan Corporate Phone Records
利用阿富汗致命恐怖袭击数据与企业移动电话活动的地理位置数据，研究发现暴力冲击通过增加企业退出和减少进入来降低当地企业存在，且企业对其“总部”所在地区的暴力反应最强。
We provide empirical evidence on how insecurity affects firm behavior by linking data on deadly terrorist attacks in Afghanistan to geolocated data on corporate mobile phone activity. We first develop an approach to estimate the geographic footprint of firms based on employee locations. Using these measures, our main analysis shows that violent shocks reduce local firm presence by both increasing firm exit and decreasing entry. Firms respond most strongly to violence in their “headquarters” districts. We also find suggestive evidence of persistence; stronger impacts in more secure districts; and spillovers, whereby attacks in provincial capitals reduce firm presence in surrounding rural districts.