The influence of political stability on financial crime remains a subject of ongoing debate. While stability is often associated with policy continuity, regulatory credibility, and more effective enforcement, an alternative view suggests that unstable democracies may outperform stable...

The weaponization of agricultural trade has once again emerged as critical in the study of modern geopolitics due to Russia's full-scale invasion of Ukraine. Although Russia has used its wheat exports as a means of enhancing its geopolitical influence over countries in the Global South, evidence...

This article takes as its starting point the warnings issued by the World Health Organization (WHO) on the perverse effects of a sedentary lifestyle on people's health, resulting in additional health expenditure that diverts significant resources away from other areas of public spending. The...

This paper analyses how fiscal consolidation shocks affect political instability in advanced economies. Using data on fiscal tightening in 17 OECD countries from 1980 to 2020, we estimate dynamic effects in a local projection framework employing a narrative-based instrumental variable approach...

The advent of Big Data and computational tools has transformed macroeconomic analysis, introducing real-time, high-frequency text-based indicators such as the economic policy uncertainty (EPU) index pioneered by Baker et al. (2016). However, constructing the EPU index for developing economies...

This study explores the relationship between geopolitical risk and fiscal-budgetary stability of countries, focusing on how external instability impacts the dynamics of the budget deficit. Using a dynamic System GMM (Arellano-Bover/Blundell-Bond) model on a panel dataset of 25 OECD member...

This study investigates the impact of economic policy uncertainty (EPU) on foreign direct investment (FDI) inflows and examines how this relationship is moderated by institutional quality. The analysis is based on data from 37 developing countries over the period of 2002-2021. The World...

This paper develops a novel measure of state fragility: the probability of state failure. We define state failure as the inability to perform core functions and operationalize it through observable breakdowns- conflict, territorial control, institutional deficiency, and public service...

Military spending by nations has the potential to either stabilize governments or destabilize them (via threats of coups, for instance). We study this relationship formally by using a rich dataset on more than 150 countries, spanning nearly two recent decades from 2006 to 2023. Among other...

Purpose - Political factors play a crucial role in China's initial public offering (IPO) market due to its distinctive institutional context (i.e. "economic decentralization" and "political centralization"). Given the significant level of IPO underpricing in China, we examine the impact of local...

Taxation is often described as the material expression of the social contract. However, this conceptualization largely reflects the Anglo-European experience and provides limited explanatory power for analysing taxation in African states, which did not experience the type of state-society...

With the Green Deal and the energy crisis caused by Russia's war in Ukraine, the EU has accelerated the transition towards importing renew able energy, including green hydrogen, from North Africa. EU decision-makers portray the energy transition as a win-win situation, while civil society actors...

Home to more than 1 billion people, the 39 emerging market and developing economies (EMDEs) classified as being in fragile and conflict-affected situations (FCS) are plagued by instability and weak institutions. This hinders their ability to attain the robust, sustained economic growth needed...

The most of Sub-Saharan African (SSA) countries have been affected by climate change and food insecurity problems due to the reduction of production and productivity of cereal crops in the continent. The purpose of this research was to examine the short-run and long-run effects of climate change...

This study explores how energy price inflation affects supply chain pressures under different levels of political uncertainty. Using local projection impulse-response functions, we examine the effects of oil price shocks under two regimes: one with above-average levels of political uncertainty...

This research examines impacts of austerity on the political instability in the European Union, defined as elevated levels of electoral volatility and ideological polarization. By analyzing macroeconomic theories that elucidate the effects of austerity on citizens' wealth and the national...

This paper empirically examines how foreign technologies impact firms' product innovation; specifically, we consider the moderating effects of perceived political instability and informal competition. This study uses the strategy tripod view theory to develop a novel theoretical model to explain...

This study investigates the impact of the 2024 U.S. presidential election on the relationship between cryptocurrency futures and spot markets. Using a range of financial econometric techniques, we analyze daily returns of Bitcoin futures and spot markets from December 2017, to January 2025. The...

Despite significant economic progress, the lack of regular access to adequate and nutritious food remains one of the most pressing challenges in today's world, particularly in developing countries. This study investigates the spatial effect of political stability and agricultural foreign direct...

We study the effect of democratization on stock market liquidity across Spanish political regimes between 1914 and 1936. We use press news related to mass mobilization in favor of political and redistributive reforms to build a monthly index of political uncertainty, and test its impact on...

This study introduces the World Index of Political Instability (WIPI), a novel high-frequency measure that covers four dimensions of political instability in 182 countries, available from 1960 until 2024. Our measure is extracted from the curated texts of the Economist Intelligence Unit’s...

This paper contributes to the relatively limited literature on the impact of political uncertainty on international capital flows to emerging market economies. We incorporate elections as a proxy for political uncertainty into a standard push-pull framework for analyzing capital flows. Using...

The impact of political stability and economic growth on foreign direct investment (FDI) is analysed using a quantitative regression approach in countries of the Gulf Cooperation Council (GCC).The study used panel data covering the period 1995-2020, involving six GCC countries, and applied...

The entire world has been trying to expedite the transition to digital governance since it escalates the efficiency of an economy. However, the impacts of digital governance on natural resources are not well-explored. Given this background, this study intends to probe the dynamic effect of...