States of Fragility 2025 considers a world of shifting power dynamics, where the most severe impacts of crisis, conflict and instability converge in the 61 contexts identified with high and extreme fragility. Multidimensional fragility lies at the core of the geopolitical shifts that are...

State-sponsored cyber attacks are increasingly attracting attention in the literature, with many analysts interested in the firm-level economic implications of these attacks. Nevertheless, the bulk of these studies focus on firms directly targeted in the attacks. In this paper, I examine the...