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Geopolitical Risk Index Study

The document outlines the process of developing a Geopolitical Risk Index, which assesses threats related to wars, terrorism, and international tensions. It describes a dictionary-based method for constructing the index, focusing on the joint occurrence of words related to geopolitical events rather than single-word searches to avoid misclassification. The coding workflow emphasizes the extraction of relevant articles from newspapers to gather data for the index.

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46 views3 pages

Geopolitical Risk Index Study

The document outlines the process of developing a Geopolitical Risk Index, which assesses threats related to wars, terrorism, and international tensions. It describes a dictionary-based method for constructing the index, focusing on the joint occurrence of words related to geopolitical events rather than single-word searches to avoid misclassification. The coding workflow emphasizes the extraction of relevant articles from newspapers to gather data for the index.

Uploaded by

ied10015.21
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Code Workflow - Geopolitical Risk Index

Nishant Sharma(IED/10015/21) Sarvagya Kulshreshtha(IED/10019/21)

What is Geopolitical risk?


Threat, realization and escalation of adverse events associated with
wars,terorism,any tensions amongst states and politicians that affects the
peaceful course of international relations.

Before getting into the process of how we will proceed with the coding, first it is
important to understand how to develop such an index.

Development of Index:
The authors in the paper have used a dictionary based method which means a
dictionary of words has been specified and its word’s occurrence in the newspaper
articles is associated with the coverage of geopolitical events and threats.

Construction of Dictionary:
Three aspects have been taken into consideration while developing this dictionary of
words:
(1)Definition of geopolitical risk adopted in the paper
(2)words that closely aligns with the definition
(3)themes/words that are more likely to be associated with geopolitical events or words
that appear more frequently in news articles during war/crisis times.

Authors are not considering single word searches as that can lead to misclassification
and measurement error so they are considering joint occurrence of two words which
likely indicates the adverse geopolitical events.

The search query has been divided into eight categories.


There are two sets (1)Threats-These are the topic words (2)Acts-These are the act
words for the threats.

Five Threats are mentioned in the Paper:


(1)War
(2)Peace
(3)Military
(4)Nuclear
(5)Terrorist
Three Acts mentioned in the Paper:
(1)Beginning of war
(2)Escalation of war
(3)Terrorist Attacks

Coding Workflow:

The most important step here is article extraction from the newspaper and the
workflow has been explained below.

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