Proceedings of the 2022 International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2022)

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The Impact of the Russia-Ukraine War on the European Economy

Authors
Luoyan Chen1, *
1University of Liverpool, Liverpool, UK
*Corresponding author. Email: L.Chen78@liverpool.ac.uk
Corresponding Author
Luoyan Chen
Available Online 27 December 2022.
DOI
10.2991/978-94-6463-052-7_72How to use a DOI?
Keywords
Russia-Ukraine; Europe; Geopolitics; Economy; Inflation
Abstract

War is detrimental to physical and human capital, but its effect on per capita GDP is uncertain. War has the potential to increase GDP per capita by reducing unemployment and redeploying persons from the home and other non-market activities into industrial activity. In regard to this paper, the following questions have been addressed; (1) How has the impact of the Russia-Ukraine war affected the European economy? (2) Have government’s interventions played any part in reducing the impact associated with dwindling commodities? And (3) What possible interventional measures can help the Europe to absorb the economic impacts of regional conflicts? In order to better understand the effects of the war between Russia and Ukraine, a method of secondary research was utilized. Qualitative information is collected online in a number of different documents, and government websites. The quantitative data is collected through nonprofit organizations, and third-party corporations. This paper demonstrates that war reduces GDP per capita by restricting local and international trading benefits. There are three main components to consider when calculating the cost of war: the loss of life and damage to physical and human capital caused by the conflict, as well as the decline in per capita GDP as a direct result of the conflict.

Copyright
© 2022 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2022 International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2022)
Series
Advances in Economics, Business and Management Research
Publication Date
27 December 2022
ISBN
10.2991/978-94-6463-052-7_72
ISSN
2352-5428
DOI
10.2991/978-94-6463-052-7_72How to use a DOI?
Copyright
© 2022 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Luoyan Chen
PY  - 2022
DA  - 2022/12/27
TI  - The Impact of the Russia-Ukraine War on the European Economy
BT  - Proceedings of the 2022 International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2022)
PB  - Atlantis Press
SP  - 619
EP  - 626
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-052-7_72
DO  - 10.2991/978-94-6463-052-7_72
ID  - Chen2022
ER  -