Artikel
Geopolitical risks and financial stress in emerging economies
We investigate the impacts of geopolitical risks (GPRs) on financial stress (FS) in major emerging economies from 1985 to 2019. Applying a recently developed panel quantile estimation method, we show that GPRs pose serious risks to the stability of the financial condition in emerging economies. Namely, when FS is already equal to or above average, GPRs intensify this instability to a remarkable degree. Nevertheless, GPRs do not ignite the stress when the financial situation is benign. In emerging economies, foreign exchange markets and, to a lesser extent, the banking industry and the debt market suffer more severe consequences of geopolitical tensions than the stock market. In contrast, advanced economies, represented by the Group of Seven (G7), have witnessed detrimental consequences of GPRs on their stock markets, but negligible effects on other parts of their financial systems.
- Sprache
-
Englisch
- Erschienen in
-
Journal: The World Economy ; ISSN: 1467-9701 ; Volume: 47 ; Year: 2023 ; Issue: 1 ; Pages: 217-237 ; Hoboken, NJ: Wiley
- Klassifikation
-
Wirtschaft
- Thema
-
banking sector
debt market
emerging economies
financial stress
foreign exchange market
geopolitical risks
stock market
- Ereignis
-
Geistige Schöpfung
- (wer)
-
NguyenHuu, Tam
Örsal, Deniz Karaman
- Ereignis
-
Veröffentlichung
- (wer)
-
Wiley
- (wo)
-
Hoboken, NJ
- (wann)
-
2023
- DOI
-
doi:10.1111/twec.13529
- Letzte Aktualisierung
-
10.03.2025, 11:45 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Artikel
Beteiligte
- NguyenHuu, Tam
- Örsal, Deniz Karaman
- Wiley
Entstanden
- 2023
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