Economic impacts of the Russia-Ukraine Conflict on Developing Countries: A focus on Agriculture, Industry, and Food Security

Abstract

Background: The Russia-Ukraine conflict, a geopolitical struggle with global ramifications, has instigated profound economic implications, especially for developing countries. This research delves into the specific impacts on Agriculture, Industry, and Food Security in these vulnerable economies. The conflict has also exacerbated existing challenges such as climate change, environmental pollution, and health system weaknesses. Developing countries, such as Pakistan and Ethiopia, have been particularly affected, as they depend on Russia and Ukraine for essential products.

Objectives: The objective is to provide a comprehensive understanding of the multifaceted challenges and opportunities arising from the conflict, guiding policy responses and international collaboration.

Methodology: Employing a mixed-methods approach, using developing countries sample Pakistan and Ethiopia the research incorporates a thorough literature review, quantitative analysis, and case studies. Quantitative analysis involves a statistical SPI sensitivity price indicators examination to quantify the direct and indirect effects on the selected sectors. In-depth case studies of representative developing countries provide qualitative insights, while expert interviews contribute nuanced perspectives on geopolitical intricacies and potential mitigation strategies.

Results: Indicate significant disruptions in global trade, increased inflation, unemployment, supply chains, and resource availability, affecting agricultural production, industrial activities, food security in developing countries, and food shortages, as well. The research also underscores the importance of international cooperation, humanitarian considerations, and long-term resilience building.

In conclusion, this research not only sheds light on the intricate economic impacts of the Russia-Ukraine conflict on developing countries but also offers practical insights to inform policy decisions and foster sustainable development in the face of ongoing geopolitical challenges.