Global Risk Research Articles

Projects and Realities of Forming a Great Eurasian Space

Aim. Analyze three options for the development and construction of the Eurasian space (Russian, Chinese and Turkic) and identify the advantages and risks associated with both the expansion of integration processes and external influence on states that are members of coalitions of the nonWestern world.Tasks. To trace the evolution of supranational structural formations in the Eurasian space after the collapse of the Soviet Union and their appearance in declarations, agreements and other legal documents, starting with statements about “the formation and development of a common economic space, pan-European and Eurasian markets”.To identify the characteristic features of globalization of all spheres of human existence, which has given rise to the need to understand the “landscape of global risks”, “global existential catastrophe” as an event leading “to the end of the existence of our descendants”, which together determined the transition to the formation of nation states, geopolitical and geo-economic coalitions in the Greater Eurasia space (“Central Asian Five”, EEAS, SCO, CSTO, UTC).Results. The concept of three main projects for the construction of Greater Eurasia is substantiated: Russian, based on the revival of the Eurasian ideology of N. S. Trubetskoy, P. N. Savitsky and G. V. Vernadsky; the Chinese “Belt and Road”, aimed at transforming the idea of the Great Silk Road into a Community of a Common Destiny for Humanity; Turkic, claiming to recreate the Turkic civilization with the goal of “bringing world civilizations closer together” on the Eurasian continent.The author’s position is argued regarding the need to ensure coplanarity and unidirectionality of the three vectors of implementation of Eurasian projects with the consistency of political decisions and actions of the three poles of power in the Greater Eurasian space — Russia, China and Turkey.Conclusions. Currently, the coordination of political decisions and actions of the three poles of power in the Greater Eurasian space, taking into account the principles of convergence of national interests in interstate unions, global geopolitical processes of multi-agent interaction and global security strategy in a polycentric world, is becoming relevant.

Does a country’s sovereign credit rating drive capital inflows into emerging European markets? Evidence from Balkan region

This study investigates the impact of sovereign credit ratings on capital inflows and their composition for emerging European economies in the Balkan region. This study sheds light on this nexus by selecting Bulgaria, Croatia, Greece, Romania, and Slovenia between 2006-2018 using panel data analysis. The estimation results underscore that a sovereign credit rating is a significant driver of capital inflows, and a decline in sovereign credit risk leads to increased foreign direct investment and portfolio inflows. Furthermore, the estimation results demonstrate the importance of the country’s specific pull factors and reveal that a country characterized by a larger market size, better institutional quality, a stable macroeconomic environment, and a more developed financial market could attract more capital inflows. Moreover, the results highlight that global risk and liquidity push factors have a significant effect on driving cross-border capital inflows into the Balkan economies. The findings suggest that policymakers should reduce sovereign credit risks and increase the country’s absorptive capacity and competitiveness in order to attract more capital inflows to the investigated Balkan countries.

Topical dynamics of terrorism from a global perspective and a call for action on global risk

Research on terrorism is a sensitive and critical aspect globally from a security perspective that calls for an action policy. Since 9/11, terrorism has been considered a high risk or a disaster for global governance without geographical exceptions. Its association with political and economic and the severity of causalities it causes leaves a worrisome and long-lasting impact on global cohesion and peacefulness, just like a natural disaster would. This study unveils the political and policy measures, public expenditures, and likely external intervention determinants and their association with terrorism in the panel data of 151 countries from 2012 to 2022. The statistics of SGMM say that political stability is the most impactful and significant factor in reducing terrorism globally. External intervention from political agencies and economic forces is the second-most influential factor in mitigating terrorism incidents. The study further observes that the effectiveness of counter-terrorism measures and policy implementation has proven less impactful in mitigating terrorism. The innovative findings of this study state that government expenditures toward basic facilities are impactful in deterring terrorism but do not have a significant role in global analysis. The study recommends that the EU and America should collaborate and work on Asian and African regional security, rather than invade state security and sovereignty as part of their collective measures of counter-terrorism. A collaborative effort helps eradicate external evil forces or groups and sustain the state and global peace.

The Effects of Monetary Policy on Capital Flows: An Emerging Market Survey

We investigate whether central banks from emerging markets can attract or redirect capital flows, by bringing together the entire empirical literature into the first quan- titative meta-analysis. We dissect policy effects based on the origin of the monetary shock and type of flow. Further, we assess whether policy effects depend on factors that drive investors to either search for yields or fly to safety. Our findings indicate a mean effect size of inflows in the amount of 0.09% of quarterly GDP in response to either a 100-basis point (bp) increase in the domestic policy rate or a 100 bp reduction in the external rate. However, the effect size under a fixed effect specification is much higher (0.2%). Factors that attract inflows include output growth, foreign exchange reserves, and a more flexible exchange rate regime, while factors that deter flows include local and global risks. Finally, we find that banking flows are the most responsive to monetary policy, while foreign direct investments are the least responsive.

COVID-19 Lessons for the Tourism Sector: Role of Top Management Support, Communication, and Organisational Culture in Supply Chain Resilience

Tourism is a worldwide industry that is associated with global risks. Tourists from various countries are susceptible to diseases that are transmitted as a result of ecological, genetic, and human-related causes. Presently, the escalating spread of viruses, epidemics, and pandemics exemplify the adverse repercussions of globalisation, resulting in fatalities and substantial economic downturns due to their detrimental effects on the tourism sector. During the COVID-19 pandemic, unique and long-lasting risks made many tourism-related companies very difficult to run; they even risked survival. Because of this, we need a better understanding of the factors that affect or improve supply chain resilience. Addressing the public health sector of tourists is a pressing concern in such a scenario. This study seeks to examine the management of tourism, specifically focusing on the role of top management support, communication, and organisational culture in supply chain resilience. A particular focus is made on the impact of top management support, communication, and organisational culture on supply chain resilience, as well as the impact of supply chain resilience on supply chain performance. A total of 128 pieces of information were collected from various tourism sector organisations to analyse the potential relationship between the variables. Among respondents, there were 35 females and 93 males. SPSS 23 and SmartPLS, both based on structural equation modelling, are used to perform tests on the obtained data. The investigation findings indicate that the support of top management, communication, and organisational culture substantially improves supply chain resilience in the tourism sector. Furthermore, research has demonstrated that a higher level of supply chain resilience positively impacts the overall performance of firms engaged in providing tourism services. Enhancing the efficiency of the supply chain can decrease the health hazards faced by tourists, leading to an overall improvement in public health within the tourism and leisure business.

Prevalence of carbapenem-resistant Enterobacterales with bla IMP-6 predominance in hospitals from 2018 to 2021 in Nara, Japan.

Despite the global health risk of carbapenem-resistant Enterobacterales (CRE), especially carbapenemase-producing Enterobacterales (CPE), Japan reports a significantly low frequency of CRE with a predominance of IMP-type carbapenemases. This study aimed to investigate the prevalence and characteristics of CRE isolated from hospitals in the city of Nara, Japan. We obtained 171 CRE isolates from 16 791 Enterobacterales isolated at 23 hospitals in Nara between January 2018 and December 2021. Isolates of CPE were characterized through antimicrobial susceptibility testing, the carbapenem inactivation method, PCR and DNA sequencing. Genotypic diversity of carbapenemase-producing Escherichia coli and Klebsiella pneumoniae was determined via MLST and PFGE. The prevalence of CRE between 2018 and 2021 was 1.02%, gradually decreasing from 1.13% to 0.74%. Ninety-nine isolates were identified as CPE, representing six species. Ninety-seven CPE isolates harboured bla IMP-6, while the remaining two carried either bla IMP-1 or bla IMP-19. Genotype analysis identified ST131 as the dominant genotype for E. coli, but none for K. pneumoniae. PFGE results suggested clonal spread of CPE in Hospital A, where CRE was isolated in high numbers (n = 44). In this study, CRE prevalence was marginally higher than previously reported in Japan, but still low in frequency. A predominance of Enterobacterales harbouring bla IMP-6 was confirmed in Nara. The spread of CPE at Hospital A suggested the possibility of a nosocomial outbreak due to bla IMP-6 transmission via plasmids or clonal spread. Continued monitoring is crucial for effective management of CRE prevalence in the region.

An R Studio Bibliometrix Analysis of Global Research Trends of Educational Crises in 2020s

The article uses R Studio Bibliometrix, VOSviewer, and Connected Papers to structure the scientific work of scientists on the development of educational systems during socio-economic, political, migration, pandemic, and climate crises in the 2020s. The research is based on more than 970 publications (articles, conference abstracts, monographs, and their sections) indexed by Scopus in 2020–2024, selected by keywords: “educational crisis,” “education policy response,” “education disruption,” and “learning loss.” The publication activity grew at an annual rate of 16.45%, peaking in 2023, while the peak of public interest (determined by Google Trends) was in 2022. The study consists of seven parts: the first examines shifts and patterns in the fields of educational crisis; the second analyzes influential publications; the third identifies key research institutions; the fourth explores various counties; the fifth highlights prominent researchers in these fields; the sixth delves into key areas of study; and the seventh uncovers core themes and insights in the research. The study identifies a number of important areas of concentration for the study of educational crises from a thematic perspective. These include education disruption and learning loss, and the broader impact of these issues on inclusive growth and sustainable development. Among all the crises that took place in the world in 2020–2024, COVID-19 and the full-scale war in Ukraine had the greatest impact on the transformation of education systems. China and the United States dominate the world in terms of publication activity and citation of articles by scientists from these countries (their point of view actually determines the emphasis with which the scientific world speaks about challenges in education), while scientists from Australia, India, and the United Kingdom have significantly increased their research activity in this area over the study period. The findings of this study are aimed at understanding the causes and consequences of educational crises and formulating recovery plans to mitigate global risks.

Female ophthalmologists’ perception of occupational hazards during pregnancy

ObjectiveWoman ophthalmologists of childbearing age are exposed to different types of occupational risks which can be harmful to pregnancy and to the development of the fetus. The objective of this paper is to analyze the perception of these risks during pregnancy. MethodsWe designed a survey which was answered by 42 ophthalmologists who had been working during pregnancy. We report the perception of global and specific risk according to the type of agent. Results38.1% of the ophthalmologists perceive that the overall risk of working during pregnancy is high, and 35.7% consider it moderate. Regarding specific risk, the most relevant agents are the ergonomic and psychosocial ones. Physical agents are considered the least important. ConclusionsAlthough most of the surveyed ophthalmologists perceived the occupational risk as high or moderate, only 19% of them took time off work due to this reason. The most important agents were ergonomic and psychosocial.

The Asymptomatic Proportion of SARS-CoV-2 Omicron Variant Infections in Households: A Systematic Review.

Understanding the clinical spectrum of SARS-CoV-2 infection, including the asymptomatic fraction, is important as asymptomatic individuals are still able to infect other individuals and contribute to ongoing transmission. The WHO Unity Household transmission investigation (HHTI) protocol provides a platform for the prospective and systematic collection of high-quality clinical, epidemiological, serological and virological data from SARS-CoV-2 confirmed cases and their household contacts. These data can be used to understand key severity and transmissibility parameters-including the asymptomatic proportion-in relation to local epidemic context and help inform public health response. We aimed to estimate the asymptomatic proportion of SARS-CoV-2 Omicron variant infections in Unity-aligned HHTIs. We conducted a systematic review and meta-analysis in alignment with the PRISMA 2020 guidelines and registered our systematic review on PROSPERO (CRD42022378648). We searched EMBASE, Web of Science, MEDLINE and bioRxiv and medRxiv from 1 November 2021 to 22 August 2023. We identified 8368 records, of which 98 underwent full text review. We identified only three studies for data extraction, with substantial variation in study design and corresponding estimates of the asymptomatic proportion. As a result, we did not generate a pooled estimate or I2 metric. The limited number of quality studies that we identified highlights the need for improved preparedness and response capabilities to facilitate robust HHTI implementation, analysis and reporting, to better inform national, regional and global risk assessments and policymaking.

Parental history of cardiovascular risk factors and childhood cardiometabolic risk: The preventive effects of cardiorespiratory fitness and waist circumference within offspring

Introduction: In addition to childhood obesity status, the family history of cardiovascular disorders might be used as a tool for screening youth to identify those at the highest risk of developing metabolic impairments later in life. Thus, the aim of the present study was to examine associations between parental history of cardiovascular disease risk factors and childhood cardiometabolic risk, and to examine the role of cardiorespiratory fitness (CRF) and obesity in mediating the relationship between parental history and global cardiometabolic risk. Methods: A cross-sectional study was developed with 2,213 Brazilian youth. The cardiometabolic risk factor (CMRF) score, CRF, and waist circumference (WC) were evaluated. Parental family history of cardiovascular risk factors was obtained through a self-reported questionnaire. Results: Family history of hypertension, high cholesterol, diabetes, and obesity were associated with a higher CMRF score. Also, hypertensive father and high maternal cholesterol, and obesity in both parents increased the prevalence rates of these conditions in the offspring. WC was a mediator in some of these associations, while CRF was a protector for a lower metabolic risk. Conclusion: Evaluating family history, along with WC and CRF is essential for determining pediatric cardiometabolic risk.

Cardiovascular Risk, Statin Use and Electrocardiogram in HIV Patients

Introduction: Non-infectious complications became more frequent in patients living with the Human Immunodeficiency Virus (HIV). Dyslipidemia is common and represents an important cardiovascular risk factor in this population. Therefore, cardiovascular diseases represent one of the main causes of HIV morbidity and mortality. Objective: This study aimed to assess cardiovascular risk and electrocardiographic changes in outpatients living with HIV. Methods: We performed a single-center cross-sectional study that included HIV patients who were at least 30 years old and had HIV diagnosis for more than one year. Patients were on regular follow-up in a tertiary center in Brazil. Cardiovascular risk was assessed using the Global Risk Score (GRS), as recommended by Brazilian guidelines. Cardiovascular risk factors, lipid profile, statin use and resting electrocardiogram were also analyzed. Results: 92 patients were included, with an average age of 48.9 years. 54 (58.7%) were male, 28 (30.4%) had hypertension, 10 (10.9%) had type 2 diabetes mellitus, 9 (9.8%) were current smokers, and 25 (27.2%) had a previous diagnosis of dyslipidemia. Average LDL-cholesterol level was 120.2 ± 40.6 mg/dl. Eleven patients (11.9%) were on statin therapy. High cardiovascular risk was identified in 28 patients (30.4%) and only seven of those (25.0%) were on statin therapy. Serum LDL-cholesterol higher than or equal to 130 mg/dl was found in 31 patients (33.7%), and only seven of those (22.6%) were on statin therapy. ECG changes were found in 21.7%, mostly due to conduction disturbances (17.4%). Conclusion: We found a high prevalence of HIV outpatients with high cardiovascular risk. Only one in every four patients with this characteristic was on statin therapy. Cardiovascular risk is one of the main concerns in the HIV population, once antiretroviral therapy succeeds to reduce mortality attributed to opportunistic infections.

Predicting the Global Extinction Risk for 6569 Species by Applying the Life Cycle Impact Assessment Method to the Impact of Future Land Use Changes

Land use change is considered to be one of the key direct drivers of ecosystem erosion and biodiversity loss. The Life Cycle Impact Assessment (LCIA) serves as a robust tool for environmental impact assessment, featuring an advanced framework and indicators for assessing global biodiversity loss. In this research, we utilized the Species Distribution Model (SDM) to evaluate 6569 species across five taxonomic groups. We simulated habitat change and losses induced by land use changes under sustainable future scenarios from the present to 2100. This enables us to assess spatial extinction risks based on shifts in the global distribution of species. Our findings reveal a global biodiversity extinction risk of approximately 4.9 species/year, equivalent to an extinction rate of 745.9 E/MSY. Notably, higher-risk hotspots have been identified in regions such as South America, South Australia, and New Zealand. Although future sustainable scenarios involving land intensification may mitigate the biodiversity extinction rate, the objective of reaching 10 E/MSY by the end of this century remains a distant goal. By providing a more rational basis for biodiversity loss, the indicators of spatial extinction risk demonstrate the advantage of effectively reflecting regional characteristics.

Trends in population attributable fraction of modifiable risk factors for cardiovascular diseases across three decades.

To evaluate temporal trends, across three decades, in the population attributable fractions (PAFs) of modifiable risk factors for 5-year risk of cardiovascular diseases (CVDs). Within population-based Rotterdam Study, we defined three time groups of individuals without established CVD at 'baseline' with a mean age of 70 years, and followed for five years: Epoch 1990s (1989-93, n = 6195), Epoch 2000s (1997-2001, n = 5572), and Epoch 2010s (2009-14, n = 5135). The prevalence of risk factors and related relative risks were combined to quantify PAFs. The PAF of the six risk factors combined for global CVD was 0.57 [95% confidence interval (CI) 0.47-0.65], 0.52 (0.39-0.62), and 0.39 (0.18-0.54) in three respective epochs. Hypertension contributed the highest PAF to global CVD in Epoch 1990s (0.37, 95% CI: 0.28-0.44) and 2000s (0.34, 95% CI: 0.22-0.43), while smoking was the largest contributor in Epoch 2010s (0.20, 95% CI: 0.06-0.32). Dyslipidaemia changed population-level coronary heart disease risk over time. For stroke, hypertension became a less significant contributor over time, but smoking became a larger contributor. For heart failure, all risk factors showed non-significant PAFs in Epoch 2010s. PAFs related to individual risk factor varied among women and men. Six modifiable risk factors to population-level global CVD risk decreased over time, but still explained 39% of total CVD in the latest decade. PAFs changed considerably for hypertension, dyslipidaemia, and smoking. Risk factors had different PAFs for different CVDs with pronounced sex differences.

Multilayer networks for measuring interconnectedness among global stock markets through the lens of trading volume-price relationship

Using daily data spanning from 5 January 2004 to 22 November 2022, we quantify the spillover effects between 42 global stock markets. Specifically, combining causal structure learning and Elastic-Net-VAR methods, we innovatively construct multilayer causal networks based on volume-price relationship. Then, we analyze the network characteristics of multilayer spillover networks from system and market levels. Our findings indicate that there is heterogeneity in risk spillovers of price and volume networks, highlighting how trading volume spillover network play an important role in the risk contagion. Furthermore, multilayer interconnected networks confirm the risk spillovers between volume and price, and it exhibits significant differences compared to single-layer network. In addition, at system-level, each network layer shows unique network structures and dynamic evolution characteristics. At market-level, global stock markets play different roles in emitting or receiving shocks through various transmission channels. Our study emphasizes the importance of intra- and inter-layer risk propagation in multilayer networks based on volume and price, and has significant implications for developing investment strategies and global portfolio risk management.

Analysis of particulate matter-induced alteration of genes and related signaling pathways in the respiratory system

Airborne particulate matter (PM) is a global environmental risk factor threatening human health and is a major cause of cardiovascular and respiratory disease-associated death. Current studies on PM exposure have been limited to large-scale cohort and epidemiological investigations, emphasizing the need for detailed individual-level studies to uncover specific differentially expressed genes and their associated signaling mechanisms. Herein, we revealed that PM exposure significantly upregulated inflammatory and immune responses, such as cytokine-mediated signaling pathways, complement system, and the activation and migration of immune cells in gene set enrichment analysis of our RNA sequencing (RNAseq) data. Remarkably, we discovered that the broad gene expression and signaling pathways mediated by macrophages were predominantly expressed in the respiratory system following PM exposure. Consistent with these observations, individual PMs, classified by aerodynamic size and origin, significantly promoted macrophage recruitment to the lungs in the mouse lung inflammation model. Additionally, we confirmed that RNAseq observations from the respiratory system were reproduced in murine bone marrow-derived macrophages and the alveolar macrophage cell line MH-S after individual PM exposure. Our findings demonstrated that PM exposure augmented broad inflammatory and immune responses in the respiratory system and suggested the reinforcement of global strategies for reducing particulate air pollution to prevent respiratory diseases and their exacerbation.

Pharmaceutical and Trace Metal Interaction within the Water-Soil-Plant Continuum: Implications for Human and Soil Health.

Unplanned water reuse for crop irrigation may pose a global health risk due to the entry of contaminants into the food chain, undesirable effects on crop quality, and impact on soil health. In this study, we evaluate the impact derived from the co-occurrence of pharmaceuticals (Phs), trace metals (TMs), and one metalloid within the water-soil-plant continuum through bioassay experiments with Lactuca sativa L. Results indicate that the co-occurrence of Phs and TMs has synergistic or antagonistic effects, depending on target contaminants and environmental compartments. Complex formations between drugs and TMs may be responsible for enhanced sorption onto the soil of several Phs and TMs. Concerning plant uptake, the co-occurrence of Phs and TMs exerts antagonistic and synergistic effects on carbamazepine and diazepam, respectively. With the exception of Cd, drugs exert an antagonistic effect on TMs, negatively affecting their uptake and translocation. Drug contents in lettuce edible parts do not pose any threat to human health, but Cd levels exceed the maximum limits set for leafy vegetable foodstuffs. Under Ph-TM conditions, lettuce biomass decreases, and a nutrient imbalance is observed. Soil enzyme activity is stimulated under Ph-TM conditions (β-galactosidase) and Ph and Ph-TM conditions (urease and arylsulfatase), or it is not affected (phosphatase).

Linking local and global: Assessing water scarcity risk through nested trade networks

AbstractAs water scarcity escalates globally, there is a growing focus on assessing its economic impact, both locally and through trade networks, defined as water scarcity risk (WSR). Given China's pivotal role as a top importer and exporter, coupled with significant spatial disparities in water scarcity across its provinces, understanding the spread of water scarcity risks within China and their interplay with global water dynamics is imperative yet relatively unexplored. This study constructs a nested Multi‐Regional Input‐Output (MRIO) model to evaluate water scarcity risk, connecting Chinese provinces with global counterparts. Notably, we integrate the spatial heterogeneity of environmental flow requirement as a vital criterion for long‐term sustainable water management in our assessment. Our findings reveal substantial economic impacts caused by water scarcity, with a global WSR valued at $11.1 trillion, of which $6.2 trillion is attributed to trade. Critical regions, sectors, and region‐sectors are identified, offering valuable insights for targeted interventions. This study presents a unique perspective on global water scarcity risk assessment at a higher resolution scale, laying the groundwork for the formulation of effective water scarcity risk mitigation strategies aligned with sustainable development goals, particularly SDG 6 and 8.

Evolving Epidemiology and Antibiotic Resistance in Enteric Fever: A Comprehensive Review.

Enteric fever, predominantly caused by Salmonella enterica serovar Typhiand Salmonella enterica serovar Paratyphi, remains a significant global health challenge. This comprehensive review examines the evolving epidemiology and antibiotic resistance associated with enteric fever. We provide an overview of the disease's definition and historical context, highlighting the substantial impact of antibiotic resistance on treatment efficacy. The review details the global burden, incidence trends, and risk factors of enteric fever while elucidating the pathogenesis and clinical manifestations of the disease. A critical analysis of antibiotic resistance mechanisms reveals the alarming rise of multi-drug resistant (MDR) and extensively drug-resistant (XDR) strains, complicating treatment regimens and underscoring the need for novel therapeutic strategies. Current treatment protocols, the role of empirical therapy, and the rational use of antibiotics are discussed in depth. Additionally, we explore prevention and control strategies, emphasizing the importance of vaccination programs, sanitation improvements, and effective public health interventions. The review concludes with recommendations for future actions, including enhanced surveillance, research and development of new antibiotics, expansion of vaccination efforts, and improved public health infrastructure. The findings highlight the necessity for updated clinical guidelines and sustained global efforts to address the challenges of enteric fever and its evolving antibiotic resistance patterns. Through coordinated action and continued innovation, it is possible to mitigate the impact of this enduring public health threat.

Global burden, risk factors, and temporal trends of ureteral cancer: a comprehensive analysis of cancer registries

BackgroundUreteral cancer is a rare cancer. This study aimed to provide an up-to-date and comprehensive analysis on the global trends of ureteral cancer incidence and its association with lifestyle and metabolic risk factors.MethodsThe incidence of ureteral cancer was estimated from the Cancer Incidence in Five Continents Plus and Global Cancer Observatory databases. We analyzed the (1) global incidence of ureteral cancer by region, country, sex, and age group by age-standardized rates (ASR); (2) associated risk factors on a population level by univariable linear regression with logarithm transformation; and (3) incidence trend of ureteral cancer by sex and age group in different countries by Average Annual Percentage Change (AAPC).ResultsThe global age-standardized rate of ureteral cancer incidence in 2022 was 22.3 per 10,000,000 people. Regions with higher human development index (HDI), such as Europe, Northern America, and East Asia, were found to have a higher incidence of ureteral cancer. Higher HDI and gross domestic product (GDP) and a higher prevalence of smoking, alcohol drinking, physical inactivity, unhealthy dietary, obesity, hypertension, diabetes, and lipid disorder were associated with higher incidence of ureteral cancer. An overall increasing trend of ureteral cancer incidence was observed for the past decade, especially among the female population.ConclusionsAlthough ureteral cancer was relatively rare, the number of cases reported was rising over the world. The rising trends among females were more evident compared with the other subgroups, especially in European countries. Further studies could be conducted to examine the reasons behind these epidemiological changes and confirm the relationship with the risk factors identified.

Interconnections and contagion among cryptocurrencies, DeFi, NFT and traditional financial assets: Some new evidence from tail risk driven network

For digital assets (cryptocurrencies, DeFi tokens and NFTs) and traditional financial assets such as stock indices and commodities, this paper established a dynamic downside risk network to explore the network aggregating structure, important nodes and the tail risk spillover between asset groups. This study reveals that there exist tail risk spillover between digital financial assets and traditional financial assets, where the risk spillover between the digital assets and the commodities is bidirectional and the risk spillovers from the stocks to the digital assets as well as the commodities to stocks are unidirectional. For important assets, the NFT Decentraland and Brazil’s BVSP stock index play central roles in the network, while the FTSE stock index and gold exhibit strong hedging potential against global downside risk spillovers. Furthermore, we consider the impact of uncertainty in US economic policy and US stock volatility on tail risk contagion, which is the network aggregation level. Regarded as exogenous shocks, the US stock circuit breaker in March 2020 and the US Federal Reserve rate rising in March 2022 were found to significantly increase the tail risk contagion, especially the risk spillover from the stocks market to the digital financial market. Moreover, by using the TVP-SV-VAR model, we find that increases in the US EPU index and the US VIX index can both exacerbate the tail-risk contagion between digital and traditional financial assets. This expands the influencing factors of risk contagion between financial assets. The empirical findings carry important implications not only for portfolio managers and investors in portfolio allocation and investment strategies between digital and traditional financial assets, but also for government regulators in risk management and economic policy formulation.