Thematic Article
Economic deterrence versus economic viability of Ukraine during the time of Russia’s full-scale invasion: risks and opportunities
,
Abstract
Economic security, particularly economic viability, is a critical pillar of national security, underpinning a state’s sovereignty, stability, and long-term prosperity. While standard economic theories and textbooks typically address economic dynamics under conditions of peace, far less attention has been paid to how economies operate during and after periods of armed conflict, despite the increasing frequency of such events worldwide in recent years. The Russian Federation’s full-scale invasion of Ukraine has not only severely undermined Ukraine’s economic security but has also contributed to broader global repercussion, including economic slowdowns, substantial financial losses, heightened inflation, rising debt burdens, and increased poverty levels in various parts of the world. This article seeks to address this analytical gap by examining the state of economic security in Ukraine amid wartime conditions, with particular emphasis on economic viability, business impacts, associated risks, and emergent opportunities. Using a ‘5D’ approach together with the ‘strategic trilemma’, the Ukrainian case offers insights for international investors contemplating engagement in conflict-affected environments and provides a foundational basis for further scholarly inquiry into the relationship between war and economic resilience. This article is published in the Thematic Collection ‘Researchers at Risk: the view from Ukrainians in the UK’.
Keywords
economic securityeconomic viabilitystrategic trilemmariskopportunityUkrainefull-scale invasionCopyright statement
© The author(s) 2025. This is an open access article licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 4.0 International LicenseCite this article
Shpachuk, V. & Vdovychenko, V. (2025), ‘Economic deterrence versus economic viability of Ukraine during the time of Russia’s full-scale invasion: risks and opportunities’, Journal of the British Academy, 13(4): a44 https://doi.org/10.5871/jba/013.a44crossref
dimensions
Article metrices
View count: 256
Download count: 2
No Data Found
No Data Found
No Data Found
The Editors reveal their ambitions for the newly relaunched Journal of the British Academy, including an explanation of the types of articles that it will contain in future. There is also a description of the contents of the double issue with which the Journal is being relaunched.
The Editors introduce the third issue of the Journal of the British Academy in its new format, continuing the dynamic and wide-ranging character of the relaunched Journal. This Introduction includes an overview of the content of the issue and its synergies.
No Data Found