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Stock Market Synchronization: The Role of Geopolitical Risk
Journal of Risk and Financial Management. 2022. Vol. 15. No. 5. Article 204.
Given the importance of stock market synchronization for international portfolio diversification, we estimate the degrees of co-movements among US, Chinese and Russian markets. By applying the TVP-VAR approach, we measure total and bivariate synchronization indices utilizing daily data from 1998 to 2021. Our analysis demonstrates that the total connectedness index (TCI) is 26.15% among the three markets. We find that the US market is the highest volatility contributor, whereas the Russian market is the highest receiver. Since stock market synchronization is exposed to geopolitical risk, at the second stage, we apply the Quantile-on-Quantile framework to measure the response of total and bilateral connectedness indices to geopolitical risk (GPR). The findings affirm our proposition that GPR impedes TCI when it has a bullish state and a higher quantile of GPR. The response of bilateral connectedness is negative towards GPR concerning US–China and US–Russian pairs. However, the degree of connectedness between Russian and Chinese stock markets is less responsive to GPR.
Lukinskiy V., Lukinsky V., Sokolov B. et al., Annual Reviews in Control 2026 No. 62 P. 1–15
Enterprises planning material requirements must account for multiple sources of uncertainty. Considering the impact of yield uncertainty is of prime importance to decision-makers. To mitigate the effects of random yield on the continuity of manufacturing operations, we propose establishing a reserve stock to prevent shortages due to defective items within safety stock levels. If no ...
Added: October 14, 2026
Vukovic N., Krivokhizhin O., Антонова В. Д., АПК: Экономика, управление 2026 № 8 С. 89–95
One of the key roles is given to the agro-industrial complex in the global agenda of sustainable development. The leaders of the sustainable development of the agro-industrial complex identify the main trends and set standards for responsible business conduct in the industry. This article is devoted to the analysis of the leaders of responsible business ...
Added: October 14, 2026
Kim J., Lee K., Industrial and Corporate Change 2026 Vol. 35 No. 5 P. 1122–1152
This study represents one of the first attempts to develop a global typology of regional innovation systems (RIS) across both advanced and catching-up economies, identifying distinct pathways for regional technological catch-up. Utilizing United States Patent and Trademark Office (USPTO) patent citation data from 33 regions worldwide over the period 2000–2017, we construct several RIS indicators, ...
Added: October 13, 2026
Xu S., Yu H., Ren T. et al., Journal of Knowledge Management 2025 Vol. 29 No. 10 P. 3410–3436
Purpose
This study aims to investigate the role of knowledge management in enhancing urban innovation within the context of smart cities, with a particular emphasis on the function of future communities as foundational units of knowledge-driven development. It aims to distinguish the respective contributions of knowledge acquisition and knowledge sharing as input mechanisms, while examining the ...
Added: October 13, 2026
Veselova L. S., Азия и Африка сегодня 2026 № 9 С. 38–48
The article examines the consumer practices of China’s middle class in the context of the transformation of Confucian values under the influence of market reforms, urbanization, the expansion of the domestic market, and the state ideology of contemporary China. The focus is on how traditional norms of family responsibility retain their normative significance while being ...
Added: October 12, 2026
Nikulina Y., / Высшая школа экономики. Серия EC "Economics". 2026. № 1.
This paper estimates the impact of the international sanctions of 2014 and 2022, as well as the food embargo, on the technical efficiency of agricultural enterprises. The assessment was carried out using panel data from agricultural enterprises specializing in dairy production in the Leningrad Region for the period 2010–2023, employing stochastic frontier analysis. It is ...
Added: October 11, 2026
Fudan Journal of the Humanities and Social Sciences 2026
This study reassesses whether economic globalization is compatible with carbon mitigation across nine Shanghai Cooperation Organization economies over 1997 to 2024. A sequenced panel design is applied: pre-estimation diagnostics establish cross-sectional dependence, slope heterogeneity, and mixed integration orders; fixed effects with Driscoll and Kraay standard errors provides the preferred conditional mean estimate; Hansen threshold regression, ...
Added: October 11, 2026
Торговые ограничения как инструмент международного давления (на примере импортных поставок в Россию)
Biryukova O. V., США и Канада: экономика, политика, культура 2026 Т. 10 С. 37–50
The article examines the theoretical and practical aspects of the application of trade restrictions as a tool of international pressure using the case of import supplies to Russia. Special attention is paid to legal conflicts within the World Trade Organization (WTO) related to the application of national security exceptions (Article XXI of the GATT), and ...
Added: October 10, 2026
М.: НИЦ Инфра-М, 2026.
This textbook synthesizes modern concepts and approaches in the field of project management and is designed for use in project management courses. The material is based on the recommendations of the International Project Management Association (IPMA) and international standards ISO 21500 and ISO 21502.
It meets the requirements of the latest generation of federal state educational ...
Added: October 10, 2026
Aleskerov F. T., Вайншток А. П., Делахова А. М. et al., Информационные процессы 2026 Т. 26 № 3 С. 895–913
The development and effective management of territorial entities are priority issues for all states, particularly in the context of the digital transformation of public administration. Over the past decade, the integration of information technologies into municipal and regional planning has significantly altered approaches to strategic development, service delivery, and public engagement. This paper describes the ...
Added: October 9, 2026
Bessonova E., Popova S., Fedulova M., Emerging Markets Review 2026 Vol. 75 Article 101564
To mitigate the shocks caused by the pandemic-related restrictions, many governments implemented extensive support measures for companies facing sharp declines in revenues. In Russia, loan guarantee programmes allowed many firms to apply for loans during the pandemic. As a result, the number of small loans soared. Participation in the loan guarantee programmes helped firms in ...
Added: October 8, 2026
Kuzminov Y., Koshel A., Kruchinskaia E., Russian Journal of Economics 2026 No. 12(3) P. 311–334
The expansion of digital platforms and ecosystems is reshaping consumption and the structure of modern markets. In the Russian context, a representative survey conducted by the authors indicates frequent online purchasing driven primarily by time savings, broader assortment and price accessibility. Platforms thus generate consumer benefits, including non-monetary gains that are not fully captured by ...
Added: October 8, 2026
Aleskerov F. T., Chaika E., Дерендяев А. Б. et al., Procedia Computer Science 2026 No. 287 P. 590–595
Under conditions of dynamic socio-economic changes, effective planning and decision-making are key factors in ensuring a high quality of life for the population in territories. This paper presents a decision support system for territorial administrations for the development and implementation of sustainable development strategies, using one of the regions of the Russian Federation – the ...
Added: October 7, 2026
Kuzminov Y., Kruchinskaia E., Koshel A. et al., М.: Издательский дом НИУ ВШЭ, 2026.
В научном докладе цифровые платформы впервые рассмотрены не как частный сегмент цифрового рынка, а как новый институциональный механизм организации экономики. В одной исследовательской рамке соединены экономика, право, социология, компьютерные науки, информационная безопасность, данные бизнеса и регуляторная практика — все то, что позволяет взглянуть на платформы как на институт со своими правилами игры. Особую ценность работе ...
Added: October 6, 2026
Lola I. S., Ostapkovich G. V., Asoskov D., ИСИЭЗ НИУ ВШЭ, 2026.
Центр конъюнктурных исследований Института статистических исследований и экономики знаний НИУ ВШЭ представляет информационно-аналитический материал «Потребительские настроения населения в III квартале 2026 г.», подготовленный в рамках Программы фундаментальных исследований НИУ ВШЭ.
В основу обзора положены ежеквартальные опросы более 5 тыс. человек в возрасте от 16 лет и старше. Такие опросы Федеральная служба государственной статистики (Росстат) проводит во всех субъектах ...
Added: October 6, 2026
Rastvortseva S., Tyushkevich Y., Salushkina Z. S., Journal of regional and international competitiveness 2026 Vol. 7 No. 2 P. 38–49
This paper examines the contemporary models of international competitiveness adopted by Big Tech corporations between 2010 and 2025. The study aims to identify the internal drivers underpinning the resilience of technological giants and to assess their capacity to withstand external shocks, including sanctions, geo-economic fragmentation, and regulatory shifts. To achieve this objective, the authors employ ...
Added: October 5, 2026
De Gruyter, 2026.
Post-Soviet Eurasia is one of the world's most geopolitically consequential and rapidly transforming regions. Developments across it increasingly reshape political, economic and social relations far beyond its borders. Understanding these dynamics is therefore both intellectually urgent and analytically demanding, requiring an interdisciplinary approach capable of moving beyond established categories and fragmented national perspectives.
This handbook provides ...
Added: October 5, 2026
М.: Национальный исследовательский университет "Высшая школа экономики", 2026.
В шестнадцатом выпуске электронного издания «Вестник Российского мониторинга экономического положения и здоровья населения НИУ ВШЭ (RLMSHSE)» представлены работы, подготовленные на основании данных лонгитюдного обследования домохозяйств «Российский мониторинг экономического положения и здоровья населения НИУ ВШЭ» (РМЭЗ НИУ ВШЭ) за 1992–2024 гг. В выпуске рассматриваются динамика доходов и расходов российских домохозяйств, тенденции развития рынка труда, социальное самочувствие ...
Added: October 5, 2026
Милицына П. С., Rozhkova K., Roshchin S. et al., Высшее образование в России 2026 № 8-9 С. 94–115
Привлечение и удержание молодых педагогов в школах является одним из важнейших вопросов для преодоления проблемы кадрового дефицита в системе образования. В статье анализируются особенности трудоустройства выпускников российских вузов педагогических специальностей выпуска 2021–2022 гг. На основе тотальных административных данных выявлены факторы, влияющие на вероятность их первоначального трудоустройства в школу и последующего закрепления в профессии. Результаты показывают, ...
Added: October 5, 2026
Stolbov M., Shchepeleva M., Economic Systems 2026 Vol. 50 No. 2 Article 101359
We investigate the time-varying role of Russia in the international causal network of financial stress. The network is derived using the factor-adjusted network estimation for high-dimensional time series (FNETS), which is applied to text-based financial stress indices for 66 countries. We run this technique for sequentially expanding time windows (ranging from 2000Q1:2013Q4 to 2000Q1:2023Q4). Based ...
Added: February 12, 2026
Fayzulin M., Teplova T., Kurkin A., Прикладная эконометрика 2025 Т. 79 С. 99–121
The paper analyses the dynamic connectedness between trading volumes in the Russian stock market and the global cryptocurrency (Bitcoin) market during periods of external shocks (the COVID‑19 crisis and the Russia‑Ukraine conflict) from 2019. Using the TVP‑VAR model and estimates of system variable connectivity, liquidity spillovers (cash flows) are identified between the considered asset classes. For the first time, we analyse the network connectedness of investor sentiment for the most popular Russian stocks and Bitcoin and estimate the role of sentiment in liquidity spillovers. The results demonstrate that Bitcoin’s daily trading volume predominantly acts as a recipient of shocks from the Russian stock market. Meanwhile, the overall coherence in the system was higher during the COVID‑19 crisis period compared to the Special Military Operation (SMO). The study confirms the existence of a correlation between investor sentiment on the Russian stock and cryptocurrency markets. At the beginning of the analyzed period,in 2019, when interest in crypto assets investing began to grow rapidly, this correlation was strongly pronounced.
There is a connectedness between two sentiment indices: on the stock market and crypto‑assets. The intensity of the correlation prevails in the COVID‑19 inception period, significantly exceeding the level observed in the SMO period. This sentiment metrics behaviour may imply adaptation of the Russian stock market to external shocks, as well as retail investors’ expectations of short‑term SMO in early 2022. ...
Added: February 6, 2026
Esparcia C., Gubareva M., Sokolova T. et al., North American Journal of Economics and Finance 2025 Vol. 75 No. A Article 102282
This study uses a time-varying parameter vector autoregression (TVP-VAR) model to examine the dynamic relationship between rating changes and portfolio returns in the US and Canada across the environmental (E), social (S), governance (G) and total ESG assessment pillars. The analysis includes both return and volatility spillovers and covers the period from March 2009 to ...
Added: October 17, 2024
Cherkasova V. A., Ведута Р. А., Финансы и бизнес 2024 Т. 20 № 2 С. 53–70
In modern conditions, uncertainty, both economic and geopolitical, has a significant influence on the investment decisions made by companies. The geopolitical factor can either stimulate an increase in investments or impede the implementation of investment projects. The aim of the article is to analyze the impact of geopolitical risk on the efficiency of investment decisions ...
Added: September 10, 2024
Bossman A., Gubareva M., Teplova T., Energy Economics 2023 Vol. 127 Article 107080
The interplay between energy and agricultural commodities and the responses of agricultural commodities to global uncertainty factors have been receiving increasing attention due to the pivotal contributions of commodity markets to the world economy. This study investigates the asymmetric effects of oil, market volatility and sentiment, economic policy uncertainty, and geopolitical risk on agricultural commodities ...
Added: March 22, 2024