Mind the Tides: A Systematic Review of the Geopolitical Risk Literature

ABSTRACT This essay systematically reviews articles on geopolitical risk (GPR), providing a detailed analysis of publication trends and research themes. The results revealed that the rise in the GPR has led to severe economic repercussions, including depressed economic activities, reduced investments, constrained domestic credit, and disrupted global supply chains. While there is broad consensus on the significant influence of GPR on oil prices and market volatility, the findings reveal the nuanced and sometimes conflicting impacts and predictive power of these risks. This underscores the importance of considering the context and timing of geopolitical events in market analysis and policy formulation. The study suggests that scholars should incorporate a variety of GPR indices, both country‐specific and global, to capture the multifaceted impacts of geopolitical events on markets. Context‐specific analyses are essential for understanding the differential impacts of GPR under various economic environments and market conditions. Related Articles Lemire, S., L. R. Peck, and A. Porowski. 2023. “The Evolution of Systematic Evidence Reviews: Past and Future Developments and Their Implications for Policy Analysis.” Politics & Policy 51, no. 3: 373–396. https://doi.org/10.1111/polp.12532 . Hernández‐Moreno, J., J.‐B. Harguindéguy, and B. Carrasco‐Ariza. 2025. “Review Essay—Territorial Politics and COVID: A Comprehensive Review.” Politics & Policy 53, no. 1: E70010. https://doi.org/10.1111/polp.70010 . Robles, P., and D. J. Mallinson. 2023. “Review Essay—Catching Up With AI: Pushing Toward a Cohesive Governance Framework.” Politics & Policy 51, no. 3: 355–372. https://doi.org/10.1111/polp.12529 .