The impact of the war in Ukraine on the world economy: a review of foreign media

Abstract

Introduction. This article is dedicated to the study of an important phenomenon that has been taking place in Ukraine for what is now approaching a decade. The 2013–14 Revolution of Dignity was quickly followed by Moscow’s annexation of Crimea and then by a war between Russia and Ukraine in the Donbas region. The war greatly impacted various aspects of life in Ukraine in the past eight years including its profound effect on Ukrainian economy. Relevance. The impact of the Russian-Ukrainian war on Ukrainian economy has now, correspondingly, become a subject of scholarly study within different scientific paradigms, including analytical journalism The situation in Ukraine and its influence on the economic situation in Europe and in the world is increasingly analyzed at conferences and in various global academic forums, especially it is highlighted in different kinds of the world media. A thorough reading of the press articles on economics reveals that the above-mentioned topic, and other correlating crucial ones, are approached by the scholars fastidiously, and that they propose meaningful arguments for analyzing various aspects of military events coverage in the media. Methodology. To achieve the goals, a set of interrelated research methods was used, including a critical analysis of current scientific papers on the selected topic, and a synthesis of the main conclusions into a comprehensive system vision. The principal research method is the content analysis of media publications on economic topics. Empirical data were obtained using methods of observation and discourse analysis of examples published in the world’s online media. The comparative method allowed to select units of research and classify them. The systematic approach helped to identify trends in the specifics of information during the Russian-Ukrainian war. With the help of the generalization method, the corresponding conclusions and offers for scientists and practitioners are made. Results. The authors offer a brief but very thorough overview of some of the world’s bestknown analytical media publications (The Economist Business Insider, The New York Times, BBC News Business Reporter, VoxEU, Press Release, OECD Economic Outlook, etc.) with thorough conclusions from economic experts. Conclusions. When this article enters into a dialogue with future academic publications, it will offer a useful look at how the war stimulated the world not only to analyze events in Ukraine, but also to make concrete decisions and actions. Today’s analysis of the nuances of how the Russian-Ukrainian war impacts the world, and the study of various reactions of world organizations and prominent influential people to the adaptation of the world economy in particular in the war in Ukraine, in turn, will affect the scientific fundamental adjustment of relevant theoretical concepts. Thus, the research conducted by the authors can be very valuable for scholars, both in journalism and other spheres, studying the ways of the war impact, especially on economy.