Aysan, Ahmet Faruk and Polat, Ali Yavuz and Tekin, Hasan and Tunalı, Ahmet Semih (2022): The Ascent of Geopolitics: Scientometric Analysis and Ramifications of Geopolitical Risk.
Preview |
PDF
GDPE_2021_0138_R1_11042022.pdf Download (1MB) | Preview |
Abstract
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 database by searching “Geopolitical risk” in abstracts, keywords, and titles. Our findings show that GPR research has gained momentum in the last three years. Specifically, the journal Defence and Peace Economics has one of the highest numbers of research and citation on GPR. Authors in Asia also dominate the GPR literature. Overall, this study contributes to the literature by presenting the existing research that may give new insights for prospective studies in GPR.
Item Type: | MPRA Paper |
---|---|
Original Title: | The Ascent of Geopolitics: Scientometric Analysis and Ramifications of Geopolitical Risk |
Language: | English |
Keywords: | Bibliometric analysis; Defence and peace economics; Geopolitical risk; Scopus |
Subjects: | C - Mathematical and Quantitative Methods > C2 - Single Equation Models ; Single Variables > C22 - Time-Series Models ; Dynamic Quantile Regressions ; Dynamic Treatment Effect Models ; Diffusion Processes G - Financial Economics > G1 - General Financial Markets > G12 - Asset Pricing ; Trading Volume ; Bond Interest Rates G - Financial Economics > G1 - General Financial Markets > G18 - Government Policy and Regulation |
Item ID: | 112741 |
Depositing User: | Ahmet Aysan |
Date Deposited: | 20 Apr 2022 07:04 |
Last Modified: | 20 Apr 2022 07:04 |
References: | Abakah, E. J. A., Tiwari, A. K., Alagidede, I. P., and Gil-Alana, L. A. 2021. “Re-examination of risk-return dynamics in international equity markets and the role of policy uncertainty, geopolitical risk and VIX: Evidence using Markov-switching copulas.” Finance Research Letters, 102535. Abdel-Latif, H., and El-Gamal, M. 2020. “Financial liquidity, geopolitics, and oil prices.” Energy Economics, 87, 104482. Aloui, C., and H. B. Hamida. 2019. “Oil-stock Nexus in an Oil-rich Country: Does Geopolitical Risk Matter in Terms of Investment Horizons?” Defence and Peace Economics 1-21. Aloui, C., ben Hamida, H., and Yarovaya, L. 2021. “Are Islamic gold-backed cryptocurrencies different?” Finance Research Letters, 39, 101615. Alqahtani, A., and Klein, T. 2021. “Oil price changes, uncertainty, and geopolitical risks: On the resilience of GCC countries to global tensions.” Energy, 236, 121541. Al-Yahyaee, K. H., Rehman, M. U., Mensi, W., and Al-Jarrah, I. M. W. 2019. “Can Uncertainty Indices Predict Bitcoin Prices? A Revisited Analysis Using Partial and Multivariate Wavelet Approaches.” The North American Journal of Economics and Finance 49: 47-56. Antonakakis, N., Gupta, R., Kollias, C., and Papadamou, S. 2017. “Geopolitical risks and the oil-stock nexus over 1899–2016.” Finance Research Letters, 23, 165-173. Apergis, N., M. Bonato, R. Gupta, and C. Kyei. 2018. “Does Geopolitical Risks Predict Stock Returns and Volatility of Leading Defense Companies? Evidence from A Nonparametric Approach.” Defence and Peace Economics 29(6): 684-696. Aslam, F., and H. G. Kang. 2015. “How Different Terrorist Attacks Affect Stock Markets.” Defence and Peace Economics 26(6): 634-648. Aysan, A.F., Demirtaş, H.B. and Saraç, M., 2021. The Ascent of Bitcoin: Bibliometric Analysis of Bitcoin Research. Journal of Risk and Financial Management, 14(9), p.427. Aysan, A. F., Demir, E., Gozgor, G., and Lau, C. K. M. 2019. “Effects of the Geopolitical Risks on Bitcoin Returns and Volatility.” Research in International Business and Finance 47: 511-518. Baas, J., Schotten, M., Plume, A., Côté, G., and Karimi, R. 2020. “Scopus as a Curated, High-Quality Bibliometric Data Source for Academic Research in Quantitative Science Studies.” Quantitative Science Studies 1(1): 377-386. Balcilar, M., Bonato, M., Demirer, R., and Gupta, R. 2018. “Geopolitical Risks and Stock Market Dynamics of the BRICS.” Economic Systems 42(2): 295-306. Bi, D., Guo, J. E., Wang, S., and Sun, S. 2020. “New research trends in unconventional oil and gas environmental issue: A bibliometric analysis.” arXiv preprint arXiv:2003.06126. Bilgin, M. H., G. Gozgor, and G. Karabulut. 2020. “How Do Geopolitical Risks Affect Government Investment? An Empirical Investigation.” Defence and Peace Economics 31(5): 550-564. Bouoiyour, J., Selmi, R., Hammoudeh, S., and Wohar, M. E. 2019. “What are the categories of geopolitical risks that could drive oil prices higher? Acts or threats?” Energy Economics, 84, 104523. Bouri, E., R. Demirer, R. Gupta, and H. A. Marfatia. 2019. “Geopolitical Risks and Movements in Islamic bond and Equity Markets: A Note.” Defence and Peace Economics 30(3): 367-379. Bouri, E., R. Gupta, and X. V. Vo. 2020. “Jumps in Geopolitical Risk and the Cryptocurrency Market: The Singularity of Bitcoin.” Defence and Peace Economics 1-12. Caldara, D., and M. Iacoviello. 2018. “Measuring Geopolitical Risk.” FRB International Finance Discussion Paper 1222. Choi, S. Y. 2021. “Evidence from a multiple and partial wavelet analysis on the impact of geopolitical concerns on stock markets in North-East Asian countries.” Finance Research Letters, 102465. Cobo, Manolo J., A. G. López-Herrera, E. Herrera-Viedma, and F. Herrera. 2011. “An Approach for Detecting, Quantifying, and Visualizing the Evolution of a Research Field: A Practical Application to the Fuzzy Sets Theory Field.” Journal of Informetrics 5 (1):146–166 Colon, F., Kim, C., Kim, H., and Kim, W. 2020. “The Effect of Political and Economic Uncertainty on the Cryptocurrency Market.” Finance Research Letters, 101621. Colon, F., Kim, C., Kim, H., and Kim, W. 2021. “The effect of political and economic uncertainty on the cryptocurrency market.” Finance Research Letters, 39, 101621. Cunado, J., R. Gupta, C. K. M. Lau, and X. Sheng. 2020. “Time-varying Impact of Geopolitical Risks on Oil Prices.” Defence and Peace Economics 31(6): 692-706. Drachal, K. 2021. “Forecasting crude oil real prices with averaging time-varying VAR models.” Resources Policy, 74, 102244. Dutta, A., Bouri, E., and Saeed, T. 2021. “News-based equity market uncertainty and crude oil volatility.” Energy, 222, 119930. Gkillas, K., Gupta, R., and Pierdzioch, C. 2020. “Forecasting realized gold volatility: Is there a role of geopolitical risks?” Finance Research Letters, 35, 101280. Gkillas, K., Gupta, R., and Wohar, M. E. 2018. “Volatility jumps: The role of geopolitical risks.” Finance Research Letters, 27, 247-258. Godil, D. I., Sarwat, S., Sharif, A., and Jermsittiparsert, K. 2020. “How oil prices, gold prices, uncertainty and risk impact Islamic and conventional stocks? Empirical evidence from QARDL technique.” Resources Policy, 66, 101638. Gu, X., Zhu, Z., and Yu, M. 2021. “The macro effects of GPR and EPU indexes over the global oil market—Are the two types of uncertainty shock alike?” Energy Economics, 105394. Hamidah, I., Sriyono, S., and Hudha, M. N. 2020. “A Bibliometric Analysis of Covid-19 Research Using VOSviewer .” Indonesian Journal of Science and Technology 5(2): 209-216. Hu, M., Zhang, D., Ji, Q., and Wei, L. 2020. “Macro factors and the realized volatility of commodities: a dynamic network analysis.” Resources Policy, 68, 101813. Huang, J., Li, Y., Suleman, M. T., and Zhang, H. 2021. “Effects of Geopolitical Risks on Gold Market Return Dynamics: Evidence from a Nonparametric Causality-in-quantiles Approach.” Defence and Peace Economics, 1-15. Hui, H. C. 2021. “The long-run effects of geopolitical risk on foreign exchange markets: evidence from some ASEAN countries.” International Journal of Emerging Markets. Kamenopoulos, S. N., and Agioutantis, Z. 2020. “Geopolitical Risk Assessment of Countries with Rare Earth Element Deposits.” Mining, Metallurgy and Exploration, 37(1), 51-63. Kannadhasan, M., and Das, D. 2020. “Do Asian emerging stock markets react to international economic policy uncertainty and geopolitical risk alike? A quantile regression approach.” Finance Research Letters, 34, 101276. Karasalihovic, D. 2006. “Strategy Guidelines for the Croatian Petroleum.” Management of Natural Resources, Sustainable Development and Ecological Hazards 99: 229-237. Khan, K., C. W. Su, and R. Tao. 2020. “Does Oil Prices Cause Financial Liquidity Crunch? Perspective from Geopolitical Risk.” Defence and Peace Economics 1-13. Khan, K., C. W. Su, and S. K. A. Rizvi. 2020. “Guns and Blood: A Review of Geopolitical Risk and Defence Expenditures.” Defence and Peace Economics 1-17. Kim, Y. H., H. G. Kang, and J. K. Lee. 2018. “Can Big Data Forecast North Korean Military Aggression?” Defence and Peace Economics 29(6): 666-683. Kim, Y. S., Park, K. J., and Kwon, O. B. 2019. “Geopolitical risk and trading patterns of foreign and domestic investors: Evidence from Korea.” Asia‐Pacific Journal of Financial Studies 48(2), 269-298. Kisswani, K. M. 2021. “A symmetric time-varying effects of uncertainty fluctuations on oil price volatility: A nonlinear ARDL investigation. ” Resources Policy, 73, 102210. Kumar, S., Khalfaoui, R., and Tiwari, A. K. 2021. “Does geopolitical risk improve the directional predictability from oil to stock returns? Evidence from oil-exporting and oil-importing countries.” Resources Policy, 74, 102253. Kyriazis, Ν. A., and Economou, E. M. 2021. “The Impacts of Geopolitical Uncertainty on Turkish Lira during the Erdoğan Administration.” Defence and Peace Economics, 1-20. Lee, J. E. 2020. “Geopolitical Risks in the Post-Cold War Era: Make America Great Again Can Be Make the World Great Again.” Defence and Peace Economics 31(6): 707-720. Li, Y., Huang, J., and Chen, J. 2021. “Dynamic spillovers of geopolitical risks and gold prices: New evidence from 18 emerging economies.” Resources Policy, 70, 101938. Li, Y., Huang, J., Gao, W., and Zhang, H. 2021. “Analyzing the time-frequency connectedness among oil, gold prices and BRICS geopolitical risks.” Resources Policy, 73, 102134. Liao, H., Tang, M., Luo, L., Li, C., Chiclana, F., and Zeng, X. J. 2018. “A Bibliometric Analysis and Visualization of Medical Big Data Research.” Sustainability 10(1): 166. Liu, J., Ma, F., Tang, Y., and Zhang, Y. 2019. “Geopolitical risk and oil volatility: A new insight.” Energy Economics, 84, 104548. Mansour-Ichrakieh, L., and Zeaiter, H. 2019. “The role of geopolitical risks on the Turkish economy opportunity or threat.” The North American Journal of Economics and Finance, 50, 101000. Mei, D., Ma, F., Liao, Y., and Wang, L. 2020. “Geopolitical risk uncertainty and oil future volatility: Evidence from MIDAS models.” Energy Economics, 86, 104624. Mohsin, M., Zhou, P., Iqbal, N., and Shah, S. A. A. 2018. “Assessing oil supply security of South Asia.” Energy, 155, 438-447. Mourao, P. R., and Martinho, V. D. 2020. “Forest Entrepreneurship: A Bibliometric Analysis and A Discussion about the Co-Authorship Networks of An Emerging Scientific Field.” Journal of Cleaner Production 256: 120413. Muñoz, B., García-Verdugo, J., and San-Martín, E. 2015. “Quantifying the geopolitical dimension of energy risks: A tool for energy modelling and planning.” Energy, 82, 479-500. NguyenHuu, T. 2021. “The impacts of rare disasters on asset returns and risk premiums in advanced economies 1870–2015.” Finance Research Letters, 102118. Nonejad, N. 2021. “Forecasting crude oil price volatility out-of-sample using news-based geopolitical risk index: What forms of nonlinearity help improve forecast accuracy the most?” Finance Research Letters, 102310. Olanipekun, I. O., and Alola, A. A. 2020. “Crude oil production in the Persian Gulf amidst geopolitical risk, cost of damage and resources rents: Is there asymmetric inference?” Resources Policy, 69, 101873. Phan, D. H. B., Tran, V. T., and Iyke, B. N. 2021. “Geopolitical risk and bank stability.” Finance Research Letters, 102453. Plakandaras, V., Gupta, R., and Wong, W. K. 2019. “Point and density forecasts of oil returns: The role of geopolitical risks.” Resources Policy, 62, 580-587. Powell, T.H.; Kouropalatis, Y.; Morgan, R.E.; Karhu, P. 2016 “Mapping knowledge and innovation research themes: Using bibliometrics for classification, evolution, proliferation and determinism.” International Journal of Entrepreneurship and Innovation Management 20: 174–199 Pyo, D. J. 2021. “Does Geopolitical Risk Matter? Evidence from South Korea.” Defence and Peace Economics 32(1): 87-106. Qin, Y., Hong, K., Chen, J., and Zhang, Z. 2020. “Asymmetric effects of geopolitical risks on energy returns and volatility under different market conditions.” Energy Economics, 90, 104851. Razek, N. H., and McQuinn, B. 2021. “Saudi Arabia's currency misalignment and international competitiveness, accounting for geopolitical risks and the super-contango oil market.” Resources Policy, 72, 102057. Salisu, A. A., Pierdzioch, C., and Gupta, R. 2021. “Geopolitical risk and forecastability of tail risk in the oil market: Evidence from over a century of monthly data.” Energy, 235, 121333. Shah, S. H. H., Lei, S., Ali, M., Doronin, D., and Hussain, S. T. 2019. “Prosumption: bibliometric analysis using HistCite and VOSviewer .” Kybernetes. Sharif, A., Aloui, C., and Yarovaya, L. 2020. “COVID-19 pandemic, oil prices, stock market, geopolitical risk and policy uncertainty nexus in the US economy: Fresh evidence from the wavelet-based approach.” International Review of Financial Analysis, 70, 101496. Shen, H., Liang, Y., Li, H., Liu, J., and Lu, G. 2021. “Does geopolitical risk promote mergers and acquisitions of listed companies in energy and electric power industries.” Energy Economics, 95, 105115. Storhas, D. P., De Mello, L., and Singh, A. K. 2020. “Multiscale lead-lag relationships in oil and refined product return dynamics: A symbolic wavelet transfer entropy approach.” Energy Economics, 92, 104927. Su, C. W., Khan, K., Tao, R., and Nicoleta-Claudia, M. 2019a. “Does geopolitical risk strengthen or depress oil prices and financial liquidity? Evidence from Saudi Arabia.” Energy, 187, 116003. Su, C. W., M. Qin, R. Tao, and N. C. Moldovan. 2019b. “Is Oil Political? From the Perspective of Geopolitical Risk.” Defence and Peace Economics 1-17. Suder, G. G. (Ed.). 2004. “Terrorism and the International Business Environment: The Security-Business Nexus.” Edward Elgar Publishing. Tiwari, A. K., Aye, G. C., Gupta, R., and Gkillas, K. 2020. “Gold-oil dependence dynamics and the role of geopolitical risks: Evidence from a Markov-switching time-varying copula model. Energy Economics, 88, 104748. Tiwari, A. K., Boachie, M. K., Suleman, M. T., and Gupta, R. 2021. “Structure dependence between oil and agricultural commodities returns: The role of geopolitical risks.” Energy, 219, 119584. Triki, M. B., and Maatoug, A. B. 2021. “The GOLD market as a safe haven against the stock market uncertainty: Evidence from geopolitical risk.” Resources Policy, 70, 101872. Vakulchuk, R., Overland, I., and Scholten, D. 2020. “Renewable Energy and Geopolitics: A Review.” Renewable and Sustainable Energy Reviews 122: 109547. Van Eck, N. J., and Waltman, L. 2013. “VOSviewer manual.” Leiden: Univeristeit Leiden 1(1), 1-53. Van Eck, N.J.; Waltman, L. 2010 “Software survey: VOSviewer , a computer program for bibliometric mapping.” Scientometrics 84, 523–538. Wang, K. H., Su, C. W., and Umar, M. 2021. “Geopolitical risk and crude oil security: A Chinese perspective.” Energy, 219, 119555. Wei, L. T. 2008. “Political-Economic Relations with China: Comparative Survey of Japan and Western Europe's Economic Relations with China (1949-2002).” Tamkang Journal of International Affairs 12(2): 1-49. Yilanci, V., and Kilci, E. N. 2021. “The role of economic policy uncertainty and geopolitical risk in predicting prices of precious metals: Evidence from a time-varying bootstrap causality test.” Resources Policy, 72, 102039. Zhou, M. J., Huang, J. B., and Chen, J. Y. 2020. “The effects of geopolitical risks on the stock dynamics of China's rare metals: A TVP-VAR analysis.” Resources Policy, 68, 101784. |
URI: | https://mpra.ub.uni-muenchen.de/id/eprint/112741 |