Northern insights: Geopolitical risk from Finnish news media

Gene Ambrocio, Zuzana Fungáčová, Joni Heikkinen, Eeva Kerola, Iikka Korhonen and Anni Norring

No 13/2025, Bank of Finland Research Discussion Papers from Bank of Finland

Abstract: We construct a geopolitical risk indicator for Finland using local, Finnish language news media - FinnGPR. We compare FinnGPR to global and country-specific measures of geopolitical risk derived from Anglo-Saxon media. We show that in the case of Finland, local geopolitical risk perceptions based on local news media differ from global attention on geopolitical risk in Finland as reflected in the global media. We study the effects of FinnGPR on the Finnish economy and find that the Finnish economy tends to be resilient to geopolitical risk shocks. Nevertheless, we find that geopolitical risks can represent a threat to Finnish financial market stability.

Keywords: geopolitical risk; local perceptions; geopolitical attention; news-based index; macroeconomic stability; financial stability (search for similar items in EconPapers)
JEL-codes: D80 E44 F50 G0 (search for similar items in EconPapers)
Date: 2025
New Economics Papers: this item is included in nep-eec and nep-ifn
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:bofrdp:334518

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