摘要：In this study, we analyze the relationship between geopolitical risks and growth using annual panel data from 18
emerging countries for the period from 1986 to 2016. For a robustness check, we use panel data with 5-year intervals.
The news-based indices of Caldara and Iacoviello (2018) were used as a proxy for geopolitical risks. Our results show
that the effect of geopolitical risks on growth rates is negative and significant. A 10 point increase in the geopolitical
risk index causes a 0.2–0.4% decline in the GDP growth rate.
