The impact of the Russia-Ukraine War on European Union currencies: a high-frequency analysis

Mahmut Zeki Akarsu and Orkideh Gharehgozli

Policy Studies, 2024, vol. 45, issue 3-4, 353-376

Abstract: This article examines how the ongoing Ukraine-Russia war has affected the valuation of five European Union currencies: the Polish Zloty, Hungarian Forint, Czech Koruna, Swedish Krone, and Romanian Leu. Using high-frequency time series data and advanced statistical models, we analyze a 522-week period from 1 January 2013, to 24 February 2023, with 24 February 2022, as a key focal point. The Russia-Ukraine war had varying effects on the currencies of non-Eurozone countries. Poland, Hungary, and Sweden experienced significant impacts, while Czechia and Romania remained relatively stable. Our research also highlights the stability of the Euro as a reserve currency, which attracts investors during times of crisis and protects participating economies from currency fluctuations. Additionally, our analysis underscores the distinct impact of war on these currencies, influenced by their unique political, economic, and financial structures and strengths.

Date: 2024
References: Add references at CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1080/01442872.2023.2268543 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:cposxx:v:45:y:2024:i:3-4:p:353-376

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/cpos20

DOI: 10.1080/01442872.2023.2268543

Access Statistics for this article

Policy Studies is currently edited by Toby James

More articles in Policy Studies from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().