The Ukraine War's Multifaceted Economic Fallout

The Ukraine War's Multifaceted Economic Fallout

Sergei Karpukhin/TASS via Getty Images

Mohamed A. El-Erian
Project Syndicate, 2022
Niveau: débutant
Perspective: Économie néoclassique
Sujet: Mondialisation & relations économiques internationales, Macroéconomie, Monnaie & dette, Relations Nord-Sud & développement, Ressources, environment & climat
Format: Blog & Press

The article demonstrates that by their very nature, the economic sanctions levelled by Western and other countries against Russia inevitably will create adverse economic effects for the rest of the global economy, too. That does not only pertain to exploding energy as well as commodity prices, creating a stagflationary setting in industrialised countries; it will probably also entail debt restructurings in emerging countries negatively affected by tightening financial conditions.

Comment from our editors:

Mohamed El-Erian is one of the most astute analysts of macroeconomic developments in the world economy. His differentiation between direct, blowback, spillover, and systemic negative consequences of Western sanctions against Russia made here is very helpful to discern what economic fallout will probably follow from this war short, medium and long-term throughout the global economy. Financial sanctions, after all, are weapons potentially creating massive collateral damage, too.

Go to: The Ukraine War's Multifaceted Economic Fallout

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Ce projet est le fruit du travail des membres du réseau international pour le pluralisme en économie, dans la sphère germanophone (Netzwerk Plurale Ökonomik e.V.) et dans la sphère francophone (Rethinking Economics Switzerland / Rethinking Economics Belgium / PEPS-Économie France). Nous sommes fortement attachés à notre indépendance et à notre diversité et vos dons permettent de le rester !