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The Ukraine Conflict, Economic-Military Power Balances and Economic Sanctions


  • Davis, Christopher Mark

    () (Department of Economics and School of Interdisciplinary Area Studies, University of Oxford)


The evolution and outcomes of conflicts in Europe, including the current one in Ukraine, have been influenced by the dynamics of economic, technological and military balances, which in turn are affected by the economic warfare and sanctions that have been used to alter them. This article reviews defence economic concepts of relevance to the Ukraine conflict and then draws out lessons for the present concerning power balances, military capabilities, conventional deterrence, economic warfare and counter-measures against sanctions from experiences in Europe in the 20th century. An evaluation is made of the impacts of economic sanctions on Russia and Ukraine in 2014–2016

Suggested Citation

  • Davis, Christopher Mark, 2016. "The Ukraine Conflict, Economic-Military Power Balances and Economic Sanctions," Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 4, pages 196-216, August.
  • Handle: RePEc:rnp:ecopol:ep1648

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    References listed on IDEAS

    1. Irina Dezhina, 2015. "Economic sanctions and science in Russia," Russian Economic Developments, Gaidar Institute for Economic Policy, issue 11, pages 73-76, November.
    2. Furth, J. Herbert, 1973. "The International Monetary Fund, 1945–1965: Twenty Years of International Monetary Cooperation. Vol. I: Chronicle. By J. Keith Horsefield. Pp. xviii, 663. Vol. II: Analysis. By Margaret G. de Vries an," The Journal of Economic History, Cambridge University Press, vol. 33(03), pages 676-678, September.
    3. Brainard, Lael, 2015. "Unconventional Monetary Policy and Cross-Border Spillovers : a speech at the "Unconventional Monetary and Exchange Rate Policies," 16th International Monetary Fund Jacques Polak Research Con," Speech 875, Board of Governors of the Federal Reserve System (U.S.).
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    Cited by:

    1. Ankudinov, Andrei & Ibragimov, Rustam & Lebedev, Oleg, 2017. "Sanctions and the Russian stock market," Research in International Business and Finance, Elsevier, vol. 40(C), pages 150-162.

    More about this item


    economic power; military capabilities; technology; economic warfare and sanctions; Russia; Ukraine;

    JEL classification:

    • F51 - International Economics - - International Relations, National Security, and International Political Economy - - - International Conflicts; Negotiations; Sanctions
    • N4 - Economic History - - Government, War, Law, International Relations, and Regulation


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