NguyenHuu, Tam; Örsal, Deniz Karaman - In: The World Economy 47 (2023) 1, pp. 217-237
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....