This paper analyzes the impact of 473 terror attacks on various economic sectors in Israel between 27 September 2000 and 31 December 2003. Shares traded in the Tel Aviv stocks exchange (TASE) are classified into ten industries: Banking, Chemicals, Commerce & Services, Electrical & Electronics, Insurance, Investments & Holding, Manufacturing, Mortgage Banks, Oil Exploration and Real-Estate & Construction. The impact is the strongest for the Banking, Commerce & Services, Insurance, Investment & Holdings, Manufacturing and Real-Estate & Construction sectors. The Electrical & Electronics and Mortgage Bank sectors exhibited lower sensitivity to terrorist events.
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