Does geopolitical risk increase carbon emissions and public health risk?

In recent years, geopolitical risk has been on the rise and it has numerous economic consequences. Given that this paper aims to investigate the environmental and public health consequences of geopolitical risk. More specifically, we examine the effect of geopolitical risk on carbon emissions and their combined impact on public health risk. Using data from a sample of 17 countries spanning the period 1990–2018, and the generalized quantile regression and panel corrected standard errors methods, our study documents that geopolitical risk raises carbon emissions and these two together amplify public health risks in the selected sample countries. Our results are robust in alternative model specifications and hold after controlling for foreign direct investment inflows, financial development, internationalization of trade, per capita income, and total population. Given that, these findings offer important policy implications and add a new dimension to the empirical literature.