This paper defines the global economic costs of conflict and suggests two key criteria, namely comprehensiveness and consistency, which are necessary for a valid calculation of such costs. A critical review of the literature reveals that most studies focus on national income losses, using...

This paper explores the global economic consequence of the Russian-Ukraine war in the month of invasion. Russia invaded Ukraine on the 24th of February 2022. As a result of the Russia-Ukraine war, multiple international sanctions were imposed on Russia to compel Russia to de-escalate the crisis....

We estimate the opportunity cost for Iran due to the Islamic revolution and eight years' war with Iraq (1978/79-1988). We apply the synthetic control method in order to compare Iran with a synthetic Iran and answer this counterfactual question. Our results show that, in total, an average Iranian...

Economically developed countries as well as the developing countries are facing the brunt of terrorist activities, more recurrently in the last two decades. Poverty, unemployment, inequality and other socio-economic issues are intertwined with acts of violence and terrorism. The economic cost of...

While broad economic sanctions have long been used as instruments of foreign policy, targeted sanctions focusing on specific individuals, entities, and transactions are relatively new and less understood. We present a model of firm performance under sanctions where the target government may be...

This article evaluates the possible effects of the 11th package of sanctions against Russia in the context of the Russia-Ukraine war on Azerbaijan. This study is important because Russia is one of Azerbaijan's main trade partners and Azerbaijan's main export market in terms of non-oil sector...

This study examines the causal joint effect of a new political regime and war against Iraq on life expectancy of Iranians for the period 1978–1988 during the revolution and war. I use a synthetic control approach to construct a synthetic Iran based on a weighted average of other Middle East...

In our paper, we provide a review of the literature to identify the main transmission channels through which geopolitical risks (GPR) influence m a cro-financial st ab ility. We be gi n by analyzing the existing measures of geopolitical tensions and uncertainty, showing that GPR impacts economic...

In this paper, I study the consequences of Thailand's 2006 coup on various dimensions of Thailand's economy. I use a synthetic control method to construct synthetic Thailand to predict how Thailand would have been if the 2006 coup had not occurred. Real GDP received a one-time permanent negative...