Israel-Palestine Conflict: Tracking Global Economic Responses and Fears
How to cite (SHIRKAH) :
Studying the Israeli-Palestinian conflict is crucial for understanding the global economy, as it significantly influences the economic policies of various countries in anticipation of impacts and challenges. This study analyzes the global economic response and fear of the Israeli-Palestinian conflict. The research method used was descriptive qualitative with a phenomenological approach. The data source is 60 selected news articles from trusted online news platforms that present expert opinions regarding the economic impact of the Israeli-Palestinian conflict. The analysis was carried out using NVivo 12 software. The research found that the world's response and fear are focused on the energy market, particularly regarding price increases, oil and gas import and export, and concerns about a potential oil embargo. The second major issue discussed is political tensions among GCC member countries, which affect the investment climate, including money and capital markets. The conflict is also expected to slow economic growth and recovery after the COVID-19 pandemic, involving major countries, such as the United States, various Asian nations, and several European countries. This study contributes to the economic literature and international relations by offering new insights into how regional conflicts impact global economic dynamics. This provides a foundational basis for stakeholders to develop strategic economic policies in response to the conditions arising from the conflict.
Abahre, J., Al-Rimmawi, H., Abu Raida, L., Alkhateeb, M., Bishawi, W., Mahmoud, S., Suleiman, A., & Khlaif, Z. N. (2023). Impact of political instability on 1948-Palestinian shoppers' satisfaction: Palestinian tourist destination as a case study. Heliyon, 9(6), e17235. https://doi.org/10.1016/j.heliyon.2023.e17235
Abu-Ghunmi, D., Corbet, S., & Larkin, C. (2020). An international analysis of the economic cost for countries located in crisis zones. Research in International Business and Finance, 51(August 2019), 101090. https://doi.org/10.1016/j.ribaf.2019.101090
Adem, S. H. (2019). Historical and Political Background of the Israeli-Palestinian Conflict. In Internatiional Criminal Justice (pp. 11–48). https://doi.org/10.1007/978-94-6265-291-0
Agbahey, J., Siddig, K., & Grethe, H. (2021). Economy-wide effects of cross-border labor mobility: The case of Palestinian employment in Israel. Journal of Policy Modeling, 43(5), 964–981. https://doi.org/10.1016/j.jpolmod.2021.03.008
Ahram, A. I. (2022). When rebels govern oil. Extractive Industries and Society, 12(March), 101169. https://doi.org/10.1016/j.exis.2022.101169
Aksendi, W. (2021). Analysis of United States Involvement in the Palestine and Israel Conflicts. Indonesian Journal of Peace and Security Studies (IJPSS), 3(2), 43–50. https://doi.org/10.29303/ijpss.v3i2.89
Al-Khouri, R. (2015). Determinants of foreign direct and indirect investment in the MENA region. Multinational Business Review, 23(2), 148–166. https://doi.org/10.1108/MBR-07-2014-0034
Alsaqqa, S. (2019). The impact of intercultural mediation in developing the EU negotiation in the Palestinian Israeli conflict. In Intercultural and Interlinguistic Communication.
Atanasiu, M. (2021). Multilateral Conflicts of Palestine - History, Present and Trends. Strategic Impact, 79(2), 56–77. https://doi.org/10.53477/1841-5784-21-04
Bahgat, G. (2008). Energy and the Arab-Israeli Conflict. Middle Eastern Studies, 44(6), 937–944. https://doi.org/10.1080/00263200802426195
Bdeer, S. (2020). Game As a Tool of Solving Israeli-Palestinian Conflict. Tribuna Tânărului Cercetător, 2, 139–143. https://doi.org/10.5281/zenodo.3875076
Blanchard, C. M. (2023). Saudi Arabia : Background and U . S . Relations Saudi Arabia : Background and U . S . Relations. Congressional Research Service.
Bobkin, N. N. (2022). Impact of the Ukrainian Conflict on US Relations with Countries in the Middle East. Herald of the Russian Academy of Sciences, 92(5), S1397–S1404. https://doi.org/10.1134/S1019331622210055
Braun, E., Braun, E., Gyimesi, A., Iloskics, Z., & Sebestyén, T. (2023). Exposure to trade disruptions in case of the Russia–Ukraine conflict: A product network approach. World Economy, 46(10), 2950–2982. https://doi.org/10.1111/twec.13417
Bröckerhoff, A., & Qassoum, M. (2021). Consumer boycott amid conflict: The situated agency of political consumers in the occupied Palestinian territory. Journal of Consumer Culture, 21(4), 892–912. https://doi.org/10.1177/1469540519882483
Burton, G. (2019). China and the Palestinian-Israeli Conflict. La Chine : Nouvel Acteur Méditerranéen, 109(2), 147–160.
Choudhury, M. A., & Adenan, F. (2017). Political Economy of Conflict and Conflict Resolution Between Islam, the Arab World, and the West. World Futures, 73(6), 376–395. https://doi.org/10.1080/02604027.2017.1357965
Cohen, P. (2023). Risk of a Wider Middle East War Threatens a 'Fragile' World Economy. New York Times. https://www.nytimes.com/2023/11/01/business/economy/israel-gaza-war-global-economy.html
Emejulu, I., & Nnaegbuna, C. C. (2021). Interdisciplinary Journal of African & Asian Studies, Vol. 7, No.2, 2021. Interdisplinary Journal of African & Asian Studies, 7(2), 238–248.
Griffiths, M., De Imus, P., Ismail, K., Ramirez, G., Tchaidze, R., & Al Amine, R. (2021). Macroeconomic policy challenges in conflict and post-conflict countries: Experience and lessons from the middle east. Macroeconomic Policy in Fragile States, 571–600. https://doi.org/10.1093/oso/9780198853091.003.0019
Horton, R. (2023). Offline: Israel–Gaza—what comes next? The Lancet, 402(10412), 1511. https://doi.org/10.1016/S0140-6736(23)02398-X
Hsieh, H. F., & Shannon, S. E. (2005). Three approaches to qualitative content analysis. Qualitative Health Research, 15(9), 1277–1288. https://doi.org/10.1177/1049732305276687
Hutchisona, A. J., Johnstonb, L. H., & Breckona, J. D. (2010). Using QSR-NVivo to facilitate the development of a grounded theory project: An account of a worked example. International Journal of Social Research Methodology, 13(4), 283–302. https://doi.org/10.1080/13645570902996301
Kapshuk, Y. (2020). Ashkenazim and Mizrahim in the Israeli-Palestinian Peace Process: The Role of Israel's Economic Liberalization and Globalization. Defence and Peace Economics, 31(8), 927–938. https://doi.org/10.1080/10242694.2020.1801159
Karamy, S. E., & Bainus, A. (2020). West-Eastern Divan Orchestra: A Representation of Peace Optimism from the Middle East. Jurnal Ilmiah Hubungan Internasional, 16(1), 87–97. https://doi.org/10.26593/jihi.v16i1.3341.87-97
Krippendorff, K. (2004). Mixed-basis band-structure interpolation scheme applied to the fluorite-structure compounds NiSi2, AuAl2, AuGa2, and AuIn2. In Sage Publications. https://doi.org/10.1103/PhysRevB.31.3460
Li, Y., Chen, B., Li, C., Li, Z., & Chen, G. (2020). Energy perspective of Sino-US trade imbalance in global supply chains. Energy Economics, 92, 104959. https://doi.org/10.1016/j.eneco.2020.104959
Liang, A. (2023). Oil prices rise following Hamas attack on Israel. BBC News. https://www.bbc.com/news/business-67050612
Michael, K. (2022). A Multidisciplinary Journal on National Security (Vol. 25, Issue 2).
Putra, E. T., Pershada, P. D., & Suhardi. (2024). Transforming conflict: analyzing the impact of UN security council resolution 2334 on human security in Israel- Palestine. Journal of Law Science, 6(1), 91–100.
Seidel, T., Dana, T., & Tartir, A. (2021). Palestinian Political Economy: Enduring Struggle Against Settler Colonialism, Racial Capitalism, and Neoliberalism. In Political Economy of Palestine (pp. 1–22). https://doi.org/10.1007/978-3-030-68643-7_1
Sharma, S. (2023).' If Iran ...': How escalation of Israel- Hamas war can impact oil price , global economy. Business Today. https://www.businesstoday.in/latest/economy/story/if-iran-how- escalation-of-israel-hamas-war-can-impact-oil-price-global- economy-404790-2023-11-06
Simamora, H. (2023). Investor Behavior on Israeli-Palestinian War and Current Money Market Uncertainty. MABIS, 14(2), 221–230.
Sulistiani, I. (2023). Unraveling The Complex Web: A Multidimensional Analysis Of The Economic, Political, And Social Implications Of Boycotting American Products Amidst The Israel-Palestine Conflict. International Journal of Society Reviews (INJOSER), 1(2), 116–127.
Tarasari, N., R, Nasywa, Z., & M, F. F. (2021). Alternative settlement of dispute between Israel and Palestine. Annals of Justice and Humanity (AJH), 1(1), 21–27.
Wolf, M. (2023). The economic consequences of the Israel-Hamas war. Financial Times. https://www.ft.com/content/effaa755-3379-42f5-8d54-91ca66c1a0a7
Yoganandham, G., & Kareem, A. A. (2023). Impact of the Israel-Hamas Conflict on Global Economies, Including India - an Assessment. Science, Technology and Development, 12(11), 154–170.
Zuhdi, L. (2022). Palestine in the Perspective of Nizar Qabbani : The Critical Discourse Analysis in The Poems of Nizar Qabbani. 6(5), 967–976.
Copyright
Copyright aims to protect the specific way the article has been written to describe an experiment and the results. Shirkah: Journal of Economics and Business is committed to its authors to protect and defend their work and their reputation and takes allegations of infringement, plagiarism, ethical disputes, and fraud very seriously. Automotive Experiences is published under the terms of the Attribution-NonCommercial 4.0 International (CC BY-NC 4.0). Authors retain copyright and grant the journal right of first publication (online and print) with the work simultaneously. We use the restrictive license (non-commercial) as follows:
License
License to Publish
The non-commercial use of the article will be governed by the Attribution-NonCommercial 4.0 International (CC BY-NC 4.0). The author hereby grants Shirkah: Journal of Economics and Business an exclusive publishing and distribution license in the manuscript include tables, illustrations or other material submitted for publication as part of the manuscript (the “Articleâ€) in print, electronic and all other media (whether now known or later developed), in any form, in all languages, throughout the world, for the full term of copyright, and the right to license others to do the same, effective when the article is accepted for publication. This license includes the right to enforce the rights granted hereunder against third parties.
Author's Warranties
The author warrants that the article is original, written by stated author/s, has not been published before, contains no unlawful statements, does not infringe the rights of others, is subject to copyright that is vested exclusively in the author and free of any third party rights, and that any necessary written permissions to quote from other sources have been obtained by the author(s).
User Rights
Under the Creative Commons Attribution-Non Commercial 4.0 International (CC BY-NC 4.0) license, the author(s) and users are free to share (copy and redistribute the material in any medium or format) and adapt (remix, transform, and build upon the material). Users must give appropriate credit, provide a link to the license, and indicate if changes were made.
Rights of Authors
Authors retain the following rights:
- Copyright, and other proprietary rights relating to the article, such as patent rights,
- The right to use the substance of the article in future own works, including lectures and books,
- The right to reproduce the article for own purposes, provided the copies are not offered for sale, and
- The right to self-archive the article.
Co-Authorship
If the article was prepared jointly with other authors, the signatory of this form warrants that he/she has been authorized by all co-authors to sign this agreement on their behalf, and agrees to inform his/her co-authors of the terms of this agreement.
Royalties
This agreement entitles the author to no royalties or other fees. To such extent as legally permissible, the author waives his or her right to collect royalties relative to the article in respect of any use of the article by Shirkah: Journal of Economics and Business or its sublicensee.
Miscellaneous
Shirkah: Journal of Economics and Business will publish the article (or have it published) in the Journal if the article’s editorial process is successfully completed and Shirkah: Journal of Economics and Business or its sublicensee has become obligated to have the article published. Shirkah: Journal of Economics and Business may conform the article to a style of punctuation, spelling, capitalization, and usage that it deems appropriate.