This chapter surveys the literature on the political-economy of oil and gas governance by focusing on the exploration, production and revenue sharing in the hydrocarbon sector. Emphasis is placed on the extent to which oil and gas governance is shaped by geopolitics and interpartyparty politics....

Although electricity grids shape and define both political and economic spaces, the geopolitical significance of electricity remains underestimated. In political communities and beyond, such grids establish new channels for projecting geopolitical influence and new spheres of influence. In the...

Geopolitical conflicts have increasingly been a driver of trade policy. We study the potential effects of global and persistent geopolitical conflicts on trade, technological innovation, and economic growth. In conventional trade models the welfare costs of such conflicts are modest. We build a...

Armenia has already signed some agreements with China to participate in the BRI project while no concrete measures are financed by the initiative. But what are the economic advantages and disadvantages of the BRI? While funding of some for Western financiers unattractive projects by China is a...

Armenia has already signed some agreements with China to participate in the BRI project while no concrete measures are financed by the initiative. But what are the economic advantages and disadvantages of the BRI? While funding of some for Western financiers unattractive projects by China is a...

We examine the hedging properties of different asset classes as impacted by the Russian invasion of Ukraine in 2022. We employ wavelet coherence analysis to study the impact of geopolitical risk on various types of securities. We found that different asset classes exhibited unequal risk...

The General Court judgment annotated here is the first decision to recognize that the principle of energy solidarity, established in Article 194(1) TFEU, is not simply a political notion but a legally enforceable principle that can be used as a ground for judicial review. The case contributes to...

The advancing speed, scale, and sophistication of new technologies and data capabilities that aid or disrupt our interconnected world are unprecedented. While generations have relied consistently on technologies and tools to improve societies, we now are in an era where new technologies and data...

Using daily data from 39 different economies, we provide evidence that Russian invasion of Ukraine negatively impacted the global financial markets. Our study has three major takeaways. First, the event increases overall market volatilities, and the escalated daily geopolitical risk (GPRD) helps...

The beginning of the 21st century was marked by the rapid development of transregionalization. China has also actively employed the tendency putting forward one of the largest projects in history – the Belt and Road Initiative. However, the sudden upsurge of the COVID-19 pandemic has had a...

Do national strategic interests influence how countries respond to a global health crisis? We answer this question in the context of China’s FDI flows into host countries under the Belt and Road Initiative (BRI) and China’s COVID-19 vaccine distribution. Employing a newly available dataset...

The purpose of this paper is to review recent research on China’s foreign policy under president Xi Jinping since the announcement of the Belt and Road Initiative, analyzing the links of military power, political and economic interests to identify overarching strategic links that account for a...

In the past decade, Korea and Japan have increasingly exhibited different strategic priorities in trade in face of China’s rising global economic prowess and worsening US-China trade conflict. Japan’s trade policy decisions have worked to reinforce its economic and security ties with the US...

This paper focuses on the sovereign crisis of the Euro debt crisis era, and we address the existence of the relationship of CDS and bond markets sovereign credit risk pricing for selected core and periphery EMU countries, during and after the 2009 EMU crisis. We study this relationship in...

This paper presents the hypothesis that there is a hierarchy between nations, and the class assigned to each nation is determined by the geopolitical nature. Hegemonic nations tend to want to give higher classes in order of geopolitical proximity in order to secure their national security, and...

The digital euro is not a monolithic project. On the contrary: The fields of application are broad, and possible solutions are diverse. This paper provides an overview of use cases, application domains, and infrastructures for the digital euro that differ significantly. A comparison with...

Host states in which Chinese energy companies make investments have increasingly opposed Chinese energy investments in their national security reviews based on concerns that these investments have ulterior strategic motives. The suspicion of rationales behind Chinese overseas energy investments...

The primary objective of this article is to critically examine the reconciliatory thought of Mahbubani on the geopolitical conflict between the USA and China from a humanistic perspective. The geopolitical conflicts and trade war between these two countries have recently intensified. This...

This paper investigates the nonlinear Granger causality and spillover effects among geopolitical risk, crude oil and Chinese disaggregated sectoral stock markets by using a multivariate nonlinear Granger causality test and connectedness network analysis. The nonlinear Granger causality and...

In this paper, we use the improved Diebold & Yilmaz method based on TVP-VAR-SV model to analyze dynamic connectedness between energy, precious metal, industrial metal, agriculture and livestock commodity markets. The results show that the energy, industrial metal, and precious metal commodity...

This study examines the impact of geopolitical risk on international trade of Korea. Given the economic and diplomatic environment surrounding the Korean Peninsula, it is highly likely that shocks from geopolitical events exert a significant impact on export and import of Korea. To this end, we...

This study examines the impact of geopolitical risk on international trade of Korea. Given the economic and diplomatic environment surrounding the Korean Peninsula, it is highly likely that shocks from geopolitical events exert a significant impact on export and import of Korea. To this end, we...

The present investigation aims to analyze the Russian influence on the ex-USSR countries. The historical events that occurred in Crimea and Transnistria, as well as the violations of international law that followed them, will be addressed in this work. We will see throughout the text that Russia...

In 2013 China launched the Belt and Road Initiative (BRI), including in Indonesia a “Twenty-first Century Maritime Silk Road (Road)” that crosses the Indian Ocean (IO) and continues up into the Mediterranean. For Africa this produced an early Eastern focus for which there has been no...

In this study, we investigate whether geopolitical risk is a pricing factor in cross-sectional commodity futures returns. By estimating the exposure of commodity futures returns on a geopolitical risk index, we find that commodities with high-risk beta generate 7.92% higher annual returns than...

This paper discusses possible technical, economical and geopolitical consequences of the new energy scenario. We analyze the net zero emissions global race with an emphasis on the role renewable energies will play in this phenomenon and COP26’s recent decisions on climate and energy...

We examine the relationship between currency and commodity returns around the invasion of Ukraine in February 2022. We find that the expected positive contemporaneous relationship between currency and commodity returns reverses and becomes negative during this period of extreme geopolitical...

Since the beginning of the invasion of Ukraine by Russia, we have noticed a number of attacks on critical infrastructure. The VigiTrust Global Advisory Board team organized a session on How to Protect Critical Infrastructures during a Geopolitical Crisis (March 30, 2022)Keynote: I outline a...

In recent years, geopolitical risk (GPR) has been a crucial factor in investment decisions and stock markets. Therefore, we explore the research on the GPR by employing bibliometric and scientometric analytical techniques. We find 366 scientific contributions in December 2021 from the Scopus...

Does China’s quest for oil raise tensions with the United States? This paper examines the effect of international relations on global oil trade patterns. Using voting records for the United Nations General Assembly to measure the state of international relations, we estimate a modified gravity...

The relevance of this topic is due to the fact that the relations between China and Russia at the present stage have a significant impact on the development of the entire system of international relations. Both China and Russia are permanent members of the UN Security Council and have great...

We investigate how corporate stock returns respond to geopolitical risk in the case of South Korea, which has experienced large and unpredictable geopolitical swings that originate from North Korea. To do so, a monthly index of geopolitical risk from North Korea (the GPRNK index) is constructed...

Tourism is a sector of the economy that is significantly affected by fluctuations in economic and political activity and the influence of external factors. Political tensions with Russia and the Crimean issue have affected tourism revenues as well as Ukraine's economic growth. Therefore, the...

We analyze the role of economic and security considerations in bilateral trade agreements. We use the pre-World War I period to test whether trade agreements are governed by pecuniary factors, such as distance and other frictions measured by gravity covariates, or by geopolitical factors. While...

Existing long-term energy and climate scenarios are typically a rather simple extrapolation of past trends. Both qualitative and quantitative outlooks co-exist, but they often focus narrowly on individual perspectives, which is opposed to the interlinked and complex nature of energy and climate....

In the international digital platform market, a handful of US companies enjoy immense cultural, economic and political power. The short form video platform TikTok provides significant competition to these US incumbents but so far policymakers have focused on the geopolitical implications of...

The IPCC report on climate change published in August 2021 has provided a stark reminder that human activity is unequivocally responsible for global warming and changing environmental conditions on Earth. At the same time, the growing commitment of governments and companies across the world to...

The internationalization of cities and the constitution of a new international space of power involves a much more expressive number of cities than the usual global cities. Nowadays, dozens of international organizations are composed of regional capitals, medium, and even small cities. With...

In this paper, we focus on determinants of judicial efficiency in China, with efficiency estimates of district courts obtained from data envelopment analysis (DEA). Our dataset comprises 1584 local courts pooled from the year 2014 - 2017. Controlling for local economic development level as well...

This article analyses the European Union’s ability to grow into a geopolitical power through the enlargement approach to its immediate neighbourhood, the western Balkans. The article explores how this approach – as deconstructed here in the pragmatic enlargement perceptions of EU member...

The Russian system is not yet capable of running on its own, without Putin amid internal and external challenges and threats.Russian youth sees him as a hero; photos, participating in skiing, fishing, hunting, judo, hockey, ice dip in sub zero freezing water to mark Epiphany, and horse riding...