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1 – 10 of over 3000Kawsar Uddin Mahmud and Nasrin Jabin
The Ukraine crisis, which began with Russia's military intervention, has violently jolted the modern world. The egregious Russian invasion of Ukraine, on the other hand, has…
Abstract
The Ukraine crisis, which began with Russia's military intervention, has violently jolted the modern world. The egregious Russian invasion of Ukraine, on the other hand, has arguably altered the trajectory of the world order. This whiff of war does not exclude any state because all states in the world system are economically, politically, and socially interconnected and dependent on one another. Bangladesh is also feeling the effects of the Ukraine crisis. The crisis has highlighted some challenging aspects of Bangladesh's foreign policy, testing the robustness and independence of its decision-making process regarding United Nations resolutions. Myanmar, like Bangladesh, has appeared befuddled in its response to the crisis. This paper examines how Bangladesh and Myanmar's foreign policy anticipated an unwanted labyrinth by the crisis, which made its moral credibility critical to some extent. Furthermore, the paper discusses how these two countries’ foreign policy trajectories became entangled at a difficult crossroads. We used secondary data sources backed up by scholarly works on Bangladesh and Myanmar foreign policy, relevant books, recent reports, and writings on the subject for this article. This paper also sheds light on Bangladesh's U-Turn in supporting and speaking out in support of the UN resolution on Ukraine's humanitarian crisis.
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Bishal Dey Sarkar and Laxmi Gupta
The conflict in Russian Ukraine is a problem for the world economy because it hinders growth and drives up inflation when it is already high. The trade route between India and…
Abstract
Purpose
The conflict in Russian Ukraine is a problem for the world economy because it hinders growth and drives up inflation when it is already high. The trade route between India and Russia is also impacted by the Russia-Ukraine crisis. This study aims to compile the most recent data on how the present global economic crisis is affecting it, with particular emphasis on the Indian economy.
Design/methodology/approach
This research develops a mathematical forecasting model to evaluate how the Russia-Ukraine crisis would affect the Indian economy when perturbations are applied to the major transport sectors. Input-output modeling (I-O model) and interval programing (IP) are the two precise methods used in the model. The inoperability I-O model developed by Wassily Leontief examines how disruption in one sector of the economy spreads to the other. To capture data uncertainties, IP has been added to IIM.
Findings
This study uses the forecasted inoperability value to analyze how the sectors are interconnected. Economic loss is used to determine the lowest and highest priority sectors due to the Russia-Ukraine crisis on the Indian economy. Furthermore, this study provides a decision-support conclusion for studying the sectors under various scenarios.
Research limitations/implications
In future studies, other sectors could be added to study the Russian-Ukrainian crises’ effects on the Indian economy. Perturbation is only applied to transport sectors and could be applied to other sectors for studying the effects of the crisis. The availability of incomplete data is a significant concern in this study.
Originality/value
Russia-Ukraine conflict is a significant blow to the global economy and affects the global transportation network. This study discusses the application of the IIM-IP model to the Russia-Ukraine conflict. It also forecasts the values to examine how the crisis affected the Indian economy. This study uses a variety of scenarios to create a decision-support conclusion table that aids decision-makers in analyzing the Indian economy’s lowest and most affected sectors as a result of the crisis.
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With the dissolution of the Soviet Union, the European Union (EU) expanded, and its borders, and therefore its neighbors, changed. Hence, the EU needed a new policy to ensure its…
Abstract
With the dissolution of the Soviet Union, the European Union (EU) expanded, and its borders, and therefore its neighbors, changed. Hence, the EU needed a new policy to ensure its borders' security and improve relations with its neighbors. The idea of establishing a European Neighborhood Policy (ENP) thus emerged. One of the closest neighbors of the EU, Ukraine has always been in a priority position in the ENP, as it is a very important state for establishing a safe neighborhood. In this context, this article examines the EU's Ukraine strategy within the framework of ENP as a foreign policy instrument and its impact on Ukraine and EU–Ukraine relations by evaluating ENP's success based on the Euromaidan and Crimean crises.
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Saeed Awadh Bin-Nashwan, M. Kabir Hassan and Aishath Muneeza
While the world is yet to fully recuperate from the social and economic repercussions of COVID-19, the Russia–Ukraine conflict poses another major threat causing a humanitarian…
Abstract
Purpose
While the world is yet to fully recuperate from the social and economic repercussions of COVID-19, the Russia–Ukraine conflict poses another major threat causing a humanitarian crisis and economic shock. Although the 2030 Agenda for Sustainable Development Goals (SDGs) and its pledge to “leave no one behind” is a universal commitment to protect the livelihoods of vulnerable groups, the Russia–Ukraine ongoing conflict is causing immense suffering and a gloomy future for the 2030 Agenda. The purpose of this study is to provide a holistic understanding of the ramifications of the Russia–Ukraine war in SDGs progress around the world. Further, the authors shed light on how stakeholders can help engage in support of SDGs in such a challenging time.
Design/methodology/approach
This study is qualitative in nature and relies on secondary sources. The motive behind this study is to allow social and economic policy researchers and practitioners to learn from the Russia–Ukraine dispute. The authors conduct a preliminary factual analysis to determine patterns of how the conflict affects the SDGs Agenda. On this basis, the authors propose some recommendations.
Findings
While it is still early to measure the full impact of the war on crises worldwide, it is clear that the repercussions will be multi-dimensional. The authors argue that the conflict in Ukraine is severely threatening the achievement of the SDGs. As such, the authors identify patterns of this crisis that have halted progress on SDGs worldwide. Of all SDGs, the authors argue that SDG16 (i.e. peace and justice) is an absolute pre-requisite to sustaining other goals. Further, refugees should be economically empowered, resilient and sustainable food systems need to be put in place and renewable energy transition is required.
Research limitations/implications
This study serves as a springboard for future research by identifying patterns of war crises that have halted progress in achieving sustainable development worldwide. Empirical evidence needs to be conducted on the impact of this ongoing conflict on sustainable development and the 2030 Agenda.
Practical implications
This study could provide guidance to leaders and stakeholders across the globe on patterns for the impact of the Ukraine–Russia conflict on undermining global sustainable development while highlighting the need for major additional efforts to achieve the relevant SDGs.
Originality/value
To the best of the authors’ knowledge, this study is the first to analyse the threats the Russia–Ukraine dispute presents to the achievement of the 2030 Agenda for SDGs.
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Russia's attack on Ukraine on February 24, 2022, marked a very historic turning point in European security architecture. With enlarged Western aid in the immediate aftermath of the…
Abstract
Russia's attack on Ukraine on February 24, 2022, marked a very historic turning point in European security architecture. With enlarged Western aid in the immediate aftermath of the invasion, Ukraine could have overcome somehow the crisis, yet many of its cities and infrastructure were largely destroyed and one-quarter of its citizens are now refugees and displaced. What is even more serious is that it remains unclear if and how a diplomatic solution could emerge between the parties. Russia's war against Ukraine is not an overnight event, it is a part of the story of the gradual escalation of Russian aggression on Ukraine since the beginning of the 2000s. Indeed, it is not just the result of the ideological or geopolitical competition between the West/European Union (EU) and Russia regarding their mutually exclusive or even antagonistic integration policies in the shared neighborhood. It is a more dynamic process including the agency of Ukraine with all aspects of its domestic politics and societal features, ideology, the role of energy, business links as well as the impact of regional and global dimensions. This chapter aims to overview the interlinked relationship between the EU, Ukraine, and Russia in a triadic manner within key aspects including ideology, geopolitics, energy, and integration projects and by specifically focusing on the underlying factors that have triggered the emergence of the Russia–Ukraine war of 2022 and further implications for the EU politics.
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The purpose of this paper is to find how much the efficiency of winemaking has changed since the crisis of 2008 and what are the main determinants of winemaking performance in the…
Abstract
Purpose
The purpose of this paper is to find how much the efficiency of winemaking has changed since the crisis of 2008 and what are the main determinants of winemaking performance in the recent decade.
Design/methodology/approach
This study applied a three-stage approach to explore productivity, efficiency and profitability changes. At the first stage of the empirical study, the Malmquist Total Factor Productivity indexes based on the data envelopment analysis are used to reveal tendencies of wineries’ productivity and the reasons for its changes. At the second stage, productivity indexes were used to find out the main exogenous and endogenous factors. At the final stage, the profitability change after the crisis in the context of the wine types and a size of wineries is explored.
Findings
The main trends and factors of winemaking performance after 2008 were defined. It was found that a crisis in winemaking in Ukraine has been going on for almost decade with the greatest failure in 2014 that led to the falling overall efficiency. This failure was caused mainly by the military and political factors regarding the annexation of Crimea by Russia, the changes in consumer behaviour with a tendency to reduce overall alcohol consumption, and the government regulation increased excise duties on wines. Despite the efficiency crisis in Ukrainian winemaking, the positive contribution of technological progress provides its productivity growth. The small- and medium-sized enterprises in winemaking have a high resistance to the crisis and fiscal pressure. Despite it losing a half of value-added and being unprofitable, the small wine business has managed to increase the labour and capital productivities and overtake big wine business on these indicators.
Research limitations/implications
This study is limited to one country and the relatively small sample of the wineries. However, it can be a starting point for a series of research on the development of anti-crisis winemaking strategy.
Practical implications
The findings of the study can be helpful for the Ukrainian Government to prevent crisis continuation in the winemaking sector. This case may be instructive for other countries, faced with a protracted crisis of efficiency in winemaking.
Originality/value
This is the first study that examines the winemaking performance and its factors after the world financial crisis, based on the case of Ukraine.
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Iryna Kushnir, Zara Milani and Marcellus Forh Mbah
This article aims to address the response from the higher education (HE) sector in the United Kingdom (UK) to the full-scale war in Ukraine which started in 2022.
Abstract
Purpose
This article aims to address the response from the higher education (HE) sector in the United Kingdom (UK) to the full-scale war in Ukraine which started in 2022.
Design/methodology/approach
Relying on theoretical ideas of neoliberalism and the collection and thematic analysis of relevant official communications from six UK universities, the article uncovers three major ways in which these universities have been responding to the war.
Findings
They include (1) altruistic responses, (2) the promotion of equal treatment of all people and (3) the condemnation of the invasion and its implications for UK’s international cooperation in HE. These responses suggest the strengthening of the liberal ideals in the UK HE sector, heavily dominated by marketisation.
Originality/value
This analysis is significant not only for advancing a very limited scholarship on the topic of HE in the context of this war but also for understanding the development of the neoliberal landscape of UK HE and neoliberalism as a phenomenon in times of crises.
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This study aims to attempt to investigate the time-varying causality and price spillover effects between crude oil and exchange rate markets in G7 economies during the COVID-19…
Abstract
Purpose
This study aims to attempt to investigate the time-varying causality and price spillover effects between crude oil and exchange rate markets in G7 economies during the COVID-19 and Russia–Ukraine crises.
Design/methodology/approach
This study uses time-varying Granger causality test and spillover index.
Findings
This study finds a time-varying causality between exchange rate returns and oil prices, implying that crude oil prices have the predictive power of the foreign exchange rate markets in G7 economies in their domain. Furthermore, the total spillover index is estimated to fall significantly around COVID-19 and war events. However, this index is relatively high – more than 57% during the first wave of COVID-19 and decreasing slightly during the Russia–Ukraine conflict.
Practical implications
This outcome supports the hypothesis that the majority of the time-varying interaction between exchange rates and oil prices takes place in the short term. As a result, the time-varying characteristics provide straightforward insight for investors and policymakers to fully understand the intercorrelation between oil prices and the G7 exchange rate markets.
Originality/value
First, this study has reexamined the oil–exchange rate nexus to highlight new evidence using novel time-varying Granger causality model recently proposed by Shi et al. (2018) and the spillover index proposed by Diebold and Yilmaz (2012). These approaches allow the author to improve understanding of time-varying causal associations and return transmission between exchange rates and oil prices. Second, compared to past papers, this paper has used data from December 31, 2019, to October 31, 2022, to offer a fresh and accurate structure between the markets, which indicates the unique experience of the COVID-19 outbreak and Russia–Ukraine war episodes. Third, this study analyzes a data set of seven advanced economies (G7) exhibiting significant variations in their economic situations and responding to global stress times.
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Anna Duchenko, Tetiana Deshko and Marina Braga
Civil society played a significant role during and after the 2014 revolution in Ukraine, which led to the resignation of President Yanukovich and his government and triggered a…
Abstract
Purpose
Civil society played a significant role during and after the 2014 revolution in Ukraine, which led to the resignation of President Yanukovich and his government and triggered a series of political, economic and social changes. In some areas, particularly by HIV and tuberculosis, the critical gaps threatened the emergence of a public health catastrophe. The purpose of this paper is to describe how civil society expands and strengthens its role in complex crisis situations, self-regulating and re-adjusting own aims and strategy by using the case of non-governmental organisations (NGOs) active in HIV prevention in high-risk groups and harm reduction.
Design/methodology/approach
The paper presents the analysis of the case of Alliance of Public Health, one of the principal recipients of the Global Fund to Fight Tuberculosis, AIDS and Malaria in 2014-2016, during and after the Euromaidan Revolution in Ukraine.
Findings
In the post-Euromaidan era, NGO sector has been able to sustain the response to the HIV/AIDS epidemic at a stable level despite significant limitations of resources and the overall fragile situation. Special efforts have been undertaken to continue activities in the conflict zone in the east of the country. Furthermore, NGOs managed to extend beyond their usual responsibilities, bridging the gaps in deteriorating public health and social systems, including taking the leadership in medical procurement; advocating for national plans development; and supplying medical goods to the uncontrolled territories in the east of the country.
Originality/value
This paper is one of the first exploring the role of non-governmental sector in HIV/AIDS programmes in resource-scarce situation of political, social and economic crisis. Case description of the strategies and activities applied in the situation gives the possibility to reflect on raising the effectiveness of the response to existing and emerging public health issues in complex crisis, as well on the potential for HIV/AIDS prevention and treatment advocacy to grow into global health diplomacy.
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Mustafa Raza Rabbani, M. Kabir Hassan, Syed Ahsan Jamil, Mohammad Sahabuddin and Muneer Shaik
In this study, the authors analyze the impact of geopolitics risk on Sukuk, Islamic and composite stocks, oil and gold markets and portfolio diversification implications during…
Abstract
Purpose
In this study, the authors analyze the impact of geopolitics risk on Sukuk, Islamic and composite stocks, oil and gold markets and portfolio diversification implications during the COVID-19 pandemic and Russia–Ukraine conflict period.
Design/methodology/approach
The study used a mix of wavelet-based approaches, including continuous wavelet transformation and discrete wavelet transformation. The analysis used data from the Geopolitical Risk index (GP{R), Dow Jones Sukuk index (SUKUK), Dow Jones Islamic index (DJII), Dow Jones composite index (DJCI), one of the top crude oil benchmarks which is based on the Europe (BRENT) (oil fields in the North Sea between the Shetland Island and Norway), and Global Gold Price Index (gold) from May 31, 2012, to June 13, 2022.
Findings
The results of the study indicate that during the COVID-19 and Russia–Ukraine conflict period geopolitical risk (GPR) was in the leading position, where BRENT confirmed the lagging relationship. On the other hand, during the COVID-19 pandemic period, SUKUK, DJII and DJCI are in the leading position, where GPR confirms the lagging position.
Originality/value
The present study is unique in three respects. First, the authors revisit the influence of GPR on global asset markets such as Islamic stocks, Islamic bonds, conventional stocks, oil and gold. Second, the authors use the wavelet power spectrum and coherence analysis to determine the level of reliance based on time and frequency features. Third, the authors conduct an empirical study that includes recent endogenous shocks generated by health crises such as the COVID-19 epidemic, as well as shocks caused by the geopolitical danger of a war between Russia and Ukraine.
Highlights
We analyze the impact of geopolitics risk on Sukuk, Islamic and composite stocks, oil and gold markets and portfolio diversification implications during the COVID-19 pandemic and Russia–Ukraine conflict period.
The results of the wavelet-based approach show that Dow Jones composite and Islamic indexes have observed the highest mean return during the study period.
GPR and BRENT are estimated to have the highest amount of risk throughout the observation period.
Dow Jones Sukuk, Islamic and composite stock show similar trend of volatility during the COVID-19 pandemic period and comparatively gold observes lower variance during the COVID-19 pandemic and Russia–Ukraine conflict.
We analyze the impact of geopolitics risk on Sukuk, Islamic and composite stocks, oil and gold markets and portfolio diversification implications during the COVID-19 pandemic and Russia–Ukraine conflict period.
The results of the wavelet-based approach show that Dow Jones composite and Islamic indexes have observed the highest mean return during the study period.
GPR and BRENT are estimated to have the highest amount of risk throughout the observation period.
Dow Jones Sukuk, Islamic and composite stock show similar trend of volatility during the COVID-19 pandemic period and comparatively gold observes lower variance during the COVID-19 pandemic and Russia–Ukraine conflict.
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