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Long-term business implications of Russia’s war in Ukraine

Author

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  • Stanislav Markus

    (University of South Carolina
    University of Konstanz)

Abstract

Following its invasion of Ukraine, Russia’s macroeconomic stability will worsen; foreign trade and Russia-bound investment will dry up; and human capital will become scarce. Russia will not fully compensate these losses with increased economic engagement with China, with particular deficiencies likely in high-tech areas for Russia. Import substitution is also unlikely to allow Russia to innovate its way out of economic isolation or escape the resource curse. As Kremlin-connected elites further dominate the impoverished economy, crony state capitalism and kleptocracy will rise. The global repercussions of Russia’s war will include commodity shocks and the attendant supply chain disruptions and inflationary pressures. In terms of FDI, the global industries in energy, auto, and consumer goods will be particularly affected. The loss of the Russian market will be less critical to sales revenues. Structurally, Russia’s forced decoupling from the global economy may lead to the fragmentation of global financial infrastructure and the formation of economically contained blocks.

Suggested Citation

  • Stanislav Markus, 2022. "Long-term business implications of Russia’s war in Ukraine," Asian Business & Management, Palgrave Macmillan, vol. 21(4), pages 483-487, September.
    • Handle: RePEc:pal:abaman:v:21:y:2022:i:4:d:10.1057_s41291-022-00181-7
    DOI: 10.1057/s41291-022-00181-7
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    Cited by:

    1. George Saridakis & Constantinos Alexiou & Roger Hoseinc & Nirvana Satnarine-Singhc, 2022. "Hegemonic Sanctions and Global Economic Ramifications in the Context of the Russian-Ukrainian Conflict: A Commentary," SPOUDAI Journal of Economics and Business, SPOUDAI Journal of Economics and Business, University of Piraeus, vol. 72(1-2), pages 34-55, January-J.
    2. Gracia Abad Quintanal & Sonia Boulos & Branislav Radeljić, 2023. "The War in Ukraine and the EU’s Geopolitical Role in Spanish Media Discourses," Media and Communication, Cogitatio Press, vol. 11(4), pages 20-33.
    3. Khurshid, Adnan & Chen, Yufeng & Rauf, Abdur & Khan, Khalid, 2023. "Critical metals in uncertainty: How Russia-Ukraine conflict drives their prices?," Resources Policy, Elsevier, vol. 85(PB).

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