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Northern insights: Geopolitical risk from Finnish news media

Author

Listed:
  • Ambrocio, Gene
  • Fungáčová, Zuzana
  • Heikkinen, Joni
  • Kerola, Eeva
  • Korhonen, Iikka
  • Norring, Anni

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.

Suggested Citation

  • Ambrocio, Gene & Fungáčová, Zuzana & Heikkinen, Joni & Kerola, Eeva & Korhonen, Iikka & Norring, Anni, 2025. "Northern insights: Geopolitical risk from Finnish news media," Bank of Finland Research Discussion Papers 13/2025, Bank of Finland.
    • Handle: RePEc:zbw:bofrdp:334518
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    References listed on IDEAS

    as
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    7. Caldara, Dario & Conlisk, Sarah & Iacoviello, Matteo & Penn, Maddie, 2026. "Do geopolitical risks raise or lower inflation?," Journal of International Economics, Elsevier, vol. 159(C).
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    Cited by:

    1. Ioannou, Demosthenes & Prioriello, Raffaele & Durrani, Agha, 2026. "Measuring geoeconomic tension: a large-language-model approach for the euro area," Working Paper Series 3250, European Central Bank.

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    JEL classification:

    • D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • F50 - International Economics - - International Relations, National Security, and International Political Economy - - - General
    • G0 - Financial Economics - - General

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