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The economic consequences of armed conflicts in selected Eurasian countries at the turn of the 21st century

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  • Leśniewski Leszek

    (Faculty of Economics and Finance, Sopot Academy of Applied Sciences, Poland)

Abstract

Subject and purpose of work The subject-matter of this paper is the economic situation in selected Eurasian countries affected by armed conflict at the turn of the 21st century. The aim of the paper is to assess the strength and impact of such conflict on the economic development of the affected countries from its outbreak until 2022. Material and methods The paper is based on an analysis of selected macroeconomic indicators using the Solow–Swan model by means of the Cobb-Douglas production function. Results Armed conflict had a significant impact on the economic situation in Ukraine and Bosnia and Herzegovina, affected Croatian economy to the most insignificant extent and had a moderate impact on socio-economic development in other states. Conclusions An armed conflict manifests itself in economic collapse, capital outflow and changes in the economic structure. What should be important for states emerging from an armed conflict is the development of technology and schooling on the one hand and the stabilisation of the implementation of economic policies aimed at avoiding a similar situation in the future on the other hand.

Suggested Citation

  • Leśniewski Leszek, 2024. "The economic consequences of armed conflicts in selected Eurasian countries at the turn of the 21st century," Economic and Regional Studies / Studia Ekonomiczne i Regionalne, Sciendo, vol. 17(2), pages 185-206.
    • Handle: RePEc:vrs:ecoreg:v:17:y:2024:i:2:p:185-206:n:1001
    DOI: 10.2478/ers-2024-0011
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    References listed on IDEAS

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    1. Robert M. Solow, 1956. "A Contribution to the Theory of Economic Growth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 70(1), pages 65-94.
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    3. Nazrul Islam, 1995. "Growth Empirics: A Panel Data Approach," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 110(4), pages 1127-1170.
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    More about this item

    Keywords

    armed conflict; economic situation; the Balkans; the Caucasus; Central and Eastern Europe;
    All these keywords.

    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe
    • N14 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: 1913-
    • N44 - Economic History - - Government, War, Law, International Relations, and Regulation - - - Europe: 1913-

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