IDEAS home Printed from https://ideas.repec.org/a/ora/journl/v33y2024i1p416-424.html
   My bibliography  Save this article

Economic Consequences Of War In Ukraine: A Comprehensive Analysis

Author

Listed:
  • Mihai-Ciprian LUȘCAN

    (Babeș-Bolyai University of Cluj-Napoca, Faculty of Economics and Business Administration, Marketing Department, Cluj-Napoca, Romania)

Abstract

The armed conflict that erupted in Ukraine has had profound economic ramifications, not only for the country itself but also for the wider region. This paper aims to provide a comprehensive analysis of the economic consequences of the war in Ukraine, exploring its impact on various sectors and long-term development prospects. Drawing upon a range of primary and secondary data sources, the study presents a multifaceted assessment of the economic effects, considering both immediate and long-term implications. The paper examines the direct costs of the conflict, including the destruction of infrastructure, loss of human capital, and disruption of production and trade. It investigates the impact on key sectors such as agriculture, manufacturing, energy, and finance, highlighting the challenges faced by businesses and the labor market. It examines the role of external financial assistance and the effectiveness of economic policies implemented during the crisis. Finally, the study concludes by synthesizing the key findings on the economic consequences of the war in Ukraine. These recommendations encompass both short-term measures to address immediate challenges and long-term strategies to foster sustainable economic development and reconciliation. This comprehensive analysis of the economic consequences of the war in Ukraine contributes to the existing literature by providing a nuanced understanding of the multifaceted impacts of the conflict. It offers valuable insights for policymakers, international organizations, and researchers seeking to comprehend and address the economic challenges arising from war-affected regions.

Suggested Citation

  • Mihai-Ciprian LUȘCAN, 2024. "Economic Consequences Of War In Ukraine: A Comprehensive Analysis," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 33(1), pages 416-424, July.
    • Handle: RePEc:ora:journl:v:33:y:2024:i:1:p:416-424
    as

    Download full text from publisher

    File URL: https://anale.steconomiceuoradea.ro/en/wp-content/uploads/2024/11/AUOES.July_.2024.43.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Moses Waiganjo & Danijela Godinic & Bojan Obrenovic, 2021. "Strategic Planning and Sustainable Innovation During the COVID-19 Pandemic: A Literature Review," International Journal of Innovation and Economic Development, Inovatus Services Ltd., vol. 7(5), pages 52-59, December.
    2. Robert J. Barro, 1991. "Economic Growth in a Cross Section of Countries," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 106(2), pages 407-443.
    3. Julia Bluszcz & Marica Valente, 2019. "The War in Europe: Economic Costs of the Ukrainian Conflict," Discussion Papers of DIW Berlin 1804, DIW Berlin, German Institute for Economic Research.
    4. Christopher J. Coyne & Rachel L. Mathers (ed.), 2011. "The Handbook on the Political Economy of War," Books, Edward Elgar Publishing, number 13385.
    5. Jong-A-Pin, Richard, 2009. "On the measurement of political instability and its impact on economic growth," European Journal of Political Economy, Elsevier, vol. 25(1), pages 15-29, March.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Samer Matta & Michael Bleaney & Simon Appleton, 2022. "The economic impact of political instability and mass civil protest," Economics and Politics, Wiley Blackwell, vol. 34(1), pages 253-270, March.
    2. Freund, Caroline & Jaud, Melise, 2013. "Regime Change, Democracy and Growth," CEPR Discussion Papers 9282, C.E.P.R. Discussion Papers.
    3. Enea Baselgia & Reto Foellmi, 2022. "Inequality and growth: a review on a great open debate in economics," WIDER Working Paper Series wp-2022-5, World Institute for Development Economic Research (UNU-WIDER).
    4. Jakob Haan, 2007. "Political institutions and economic growth reconsidered," Public Choice, Springer, vol. 131(3), pages 281-292, June.
    5. Darko, Christian Kwasi, 2015. "Determinants of Economic Growth in Ghana," EconStor Preprints 123098, ZBW - Leibniz Information Centre for Economics.
    6. Militiades N. Georgiou & Nicholas Kyriazis & Emmanouil M. L. Economou, 2015. "Democracy, Political Stability and Economic performance. A Panel Data Analysis," Journal of Risk & Control, Risk Market Journals, vol. 2(1), pages 1-18.
    7. Gala, Vito D. & Pagliardi, Giovanni & Zenios, Stavros A., 2023. "Global political risk and international stock returns," Journal of Empirical Finance, Elsevier, vol. 72(C), pages 78-102.
    8. Jong-A-Pin, Richard & Mierau, Jochen O., 2022. "No country for old men: Aging dictators and economic growth," Economic Modelling, Elsevier, vol. 107(C).
    9. Enrico Berbenni & Stefano Colombo, 2023. "The impact of pandemics on labour organization: insights from an Italian company archive during the Spanish Flu," Letters in Spatial and Resource Sciences, Springer, vol. 16(1), pages 1-16, December.
    10. Dirks, Maximilian & Schmidt, Torsten, 2023. "The relationship between political instability and economic growth in advanced economies: Empirical evidence from a panel VAR and a dynamic panel FE-IV analysis," Ruhr Economic Papers 1000, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
    11. Mr. Lorenzo E. Bernal-Verdugo & Davide Furceri & Mr. Dominique M. Guillaume, 2013. "The Dynamic Effect of Social and Political Instability on Output: The Role of Reforms," IMF Working Papers 2013/091, International Monetary Fund.
    12. Kapri, Kul, 2019. "Impact of political instability on firm-level export decisions," International Review of Economics & Finance, Elsevier, vol. 59(C), pages 98-105.
    13. Alcántar-Toledo, Javier & Venieris, Yannis P., 2014. "Fiscal policy, growth, income distribution and sociopolitical instability," European Journal of Political Economy, Elsevier, vol. 34(C), pages 315-331.
    14. Mounir MARZOUGUI, 2016. "L’impact de l’instabilité politique sur la volatilité de l’inflation dans les pays en développement," Journal of Academic Finance, RED research unit, university of Gabes, Tunisia, vol. 7(1), June.
    15. Levoshko, Tamila, 2016. "Wie beeinflussen die politische Lage und FDI das Wirtschaftswachstum? Empirische Evidenz für die Ukraine und Polen," Working Papers 0615, University of Heidelberg, Department of Economics.
    16. Sotiris K. Papaioannou, 2020. "Political Instability and Economic Growth at Different Stages of Economic Development: historical evidence from Greece," GreeSE – Hellenic Observatory Papers on Greece and Southeast Europe 151, Hellenic Observatory, LSE.
    17. Han, Xuehui & Wei, Shang-Jin, 2017. "Re-examining the middle-income trap hypothesis (MITH): What to reject and what to revive?," Journal of International Money and Finance, Elsevier, vol. 73(PA), pages 41-61.
    18. Bjørnskov, Christian, 2022. "Coups and Economic Crises," Working Paper Series 1449, Research Institute of Industrial Economics.
    19. Mohamed Maher & Yanzhi Zhao, 2022. "Do Political Instability and Military Expenditure Undermine Economic Growth in Egypt? Evidence from the ARDL Approach," Defence and Peace Economics, Taylor & Francis Journals, vol. 33(8), pages 956-979, November.
    20. Richard Jong-A-Pin & Shu Yu, 2010. "Do Coup Leaders Matter?," KOF Working papers 10-252, KOF Swiss Economic Institute, ETH Zurich.

    More about this item

    Keywords

    war; Ukraine; economy; consequences.;
    All these keywords.

    JEL classification:

    • F00 - International Economics - - General - - - General
    • F19 - International Economics - - Trade - - - Other
    • F50 - International Economics - - International Relations, National Security, and International Political Economy - - - General
    • F60 - International Economics - - Economic Impacts of Globalization - - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ora:journl:v:33:y:2024:i:1:p:416-424. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catalin ZMOLE The email address of this maintainer does not seem to be valid anymore. Please ask Catalin ZMOLE to update the entry or send us the correct address (email available below). General contact details of provider: https://edirc.repec.org/data/feoraro.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.