Geopolitics and Conflict: What Role Do Wages Play?

Wages and internal conflict? There is a connection.

Focusing on 20 African countries from 1990 to 2021, this recent study published in Conflict, Security, and Development – and using our ICRG data – found that a decrease in real wages significantly increases the risk of internal conflict, especially in countries experiencing elevated levels of conflict. Conversely – and this is the interesting finding – increases in real wages do not consistently reduce conflict, except in scenarios with heightened political violence/terrorism and civil disorder

Have a look when time permits: (https://www.tandfonline.com/doi/abs/10.1080/14678802.2025.2489939)

With over 7.5 million back tested risk points, appearing in over 1,000 published works, and independently back tested for accuracy and relevance, PRS’ data series continues to produce meaningful empirical findings, profitable asset allocations, and informed corporate planning and valuation.

No other geopolitical risk firm occupies this position in the industry.

Our clients know it.

Our data drives.

The PRS Group
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