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The Impact of the Russian-Ukrainian Conflict on Romania's Economy

Author

Listed:
  • Ioana Raluca Diaconu

    („Alexandru Ioan Cuza” University of Iași, Romania)

  • Bogdan Andrei Tiliuta

    („Alexandru Ioan Cuza” University of Iași, Romania)

Abstract

Lives lost, pain, families torn apart, people fleeing war, cities destroyed - all are part of the war triggered by Russia's invasion of Ukraine, an unprecedented humanitarian crisis. The ongoing conflict on Romania's border has profound economic consequences not only for the belligerent countries, but for the whole of Europe and the world's economies have not been spared from imported inflation and disruptions in world trade. In our research, we aimed to highlight the impact of this conflict on our country, causing an increase in inflation, fiscal pressure, budget deficits, public debt and it accentuated climate problems. In the current conjuncture, various adverse shocks can propagate through several channels, therefore in our research we will briefly present the most important of them. Russia's invasion of Ukraine and associated sanctions represent a broad global shock with divergent effects on economic activity (decline) and the inflation rate (increase).

Suggested Citation

  • Ioana Raluca Diaconu & Bogdan Andrei Tiliuta, 2023. "The Impact of the Russian-Ukrainian Conflict on Romania's Economy," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 232-236, December.
    • Handle: RePEc:ovi:oviste:v:xxiii:y:2023:i:2:p:232-236
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    More about this item

    Keywords

    national security; international economics; inflation; financial crises; war;
    All these keywords.

    JEL classification:

    • D74 - Microeconomics - - Analysis of Collective Decision-Making - - - Conflict; Conflict Resolution; Alliances; Revolutions
    • D84 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Expectations; Speculations
    • E01 - Macroeconomics and Monetary Economics - - General - - - Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E43 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Interest Rates: Determination, Term Structure, and Effects
    • F51 - International Economics - - International Relations, National Security, and International Political Economy - - - International Conflicts; Negotiations; Sanctions

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