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2161. The Profitability of Bank Capital and Household Debt

Author:
Hyun Woong Park
Publication Date:
08-2024
Content Type:
Working Paper
Institution:
Political Economy Research Institute (PERI), University of Massachusetts Amherst
Abstract:
When does the banking sector profitability exceed the industrial sector profitability? In a benchmark, counterfactual scenario where banks lend to industrial firms only, the industrial profitability exceeds the bank profitability unless the banks’ financial intermediation technology is sufficiently advanced and the industrial sector’s leverage ratio is sufficiently high. In a more realistic scenario where the banks lend not only to the industrial firms and but also to households, which rely on bank loans for housing, vehicle, education, etc., the bank profitability exceeds the industrial profitability when the household sector’s total debt services are sufficiently large, regardless of the levels of the banks’ financial technology and the industrial sector’s leverage ratio. It suggests that the households’ debt and interest payments are potentially a important source of the bank profitability exceeding the industrial profitability. That is, the bank capital beat the industrial capital in terms of profitability by exploiting the households’ financial conditions that force them to rely on debt for their full reproduction. Lastly, this result is empirically confirmed through the ARDL cointegration analysis with the U.S. quarterly data for 1984–2020.
Topic:
Debt, Economy, Capital, and Banking
Political Geography:
Global Focus

2162. Do Abortion Bans Affect Reproductive and Infant Health? Evidence from Texas’s 2021 Ban and its Impact on Health Disparities

Author:
Raymond Caraher
Publication Date:
07-2024
Content Type:
Working Paper
Institution:
Political Economy Research Institute (PERI), University of Massachusetts Amherst
Abstract:
The overturning of Roe v. Wade led to a wave of abortion bans in state legislatures across the United States. This emergence of a restrictive reproductive health policy environment has the potential to affect a wide range of reproductive health outcomes. This paper uses Texas’s 2021 6- week ban on abortion as a case study to examine the causal effect of an abortion ban on reproductive health outcomes, specifically abortion rates, fertility rates, and infant health outcomes. It examines how these effects may be heterogeneous by group, especially focusing on how the effects of abortion bans on reproductive health may be concentrated in those who are already facing disparities in reproductive health outcomes such as Black women. Using a difference-in-differences strategy, the analysis finds that the ban decreased abortion rates by over 40 percent, and increased fertility rates by about 4 percent, with the largest increases for Black non-Hispanic women and for counties far from a state with less restrictive abortion laws. This paper then constructs a measure of unmet reproductive health needs after an abortion ban, and finds that the unmet needs after the Texas 6-week ban are largest in counties with higher proportions of Black non-Hispanic residents, as well as counties which are furthest away from states which did not ban abortion after the Dobbs decision. The analysis then examines the effect of the ban on infant health outcomes, specifically focusing on heterogeneity in the effect of the ban on birth weight and infant mortality. This paper finds that the ban led to increases in the probability of an infant being born with very low birth weight of about 7 percent, with Black non-Hispanic infants experiencing the largest increases in the likelihood of very low birth weight. Additionally, the analysis finds significant increases in the infant mortality rate of about 6 percent after the abortion ban, again with Black non-Hispanic infants experiencing the largest increases in mortality. Further, the ban increased infant mortality rates more in counties which are further away from states which did not ban abortion after the Dobbs decision. The results suggest that the effects of abortion bans tend to be especially concentrated in marginalized populations, as well as those who are least able to shift their fertility options away from in-state abortions after a ban. The analysis shows that the trend towards an increasing number abortion bans will further exacerbate disparities in reproductive health outcomes.
Topic:
Public Health, Reproductive Health, and Abortion
Political Geography:
Texas and United States of America

2163. External Debt Stress and Domestic Debt Restructuring: Resolving a Paradox

Author:
C. P. Chandrasekhar
Publication Date:
07-2024
Content Type:
Working Paper
Institution:
Political Economy Research Institute (PERI), University of Massachusetts Amherst
Abstract:
The ongoing sovereign debt crisis in low- and middle-income countries (LMICs) was signalled by instances of default or failure to meet external debt obligations denominated in hard currencies. But the response to the crisis has included attempts to restructure domestic sovereign debt issued largely in domestic currencies. Such moves have been justified by identifying the crisis as one of excessive aggregate public debt rather than just unsustainable levels of external debt. There is a need, it is argued, to reduce the gross financing needs (foreign and domestic) of debt-stressed governments that have accumulated excessively high levels of aggregate—domestic and foreign currency—public debt. This assertion ignores the difference between the stress associated with servicing debt in domestic and foreign currency. Governments can mobilise domestic resources using their sovereign right to tax and central banks have control over domestic currency supply, whereas both have little control over foreign currency availability, which depends on net foreign revenues earned and on net inflows of foreign incomes, transfers and capital. While domestic debt restructuring releases domestic resources, it does not automatically yield the foreign currency needed to relieve external debt stress. In addition, since the holders of domestic sovereign debt include citizens deploying their savings to invest in pension funds, insurance products and mutual funds, and commercial banks parking resources in ‘safe investments’, restructuring that debt through explicit or implicit haircuts is bound to be economically destabilising. Past savings would be eroded with adverse impact on current demand, and the damage to the balance sheets of banks would restrain credit to the detriment of consumption and investment. This makes implementation of domestic debt restructuring costly and difficult, as experience illustrates. Given that context, the paper examines the possible reasons why when less developed countries face external debt stress, the IMF and global finance insist on domestic debt restructuring as part of conditions associated with provision of emergency balance of payments finance or the restructuring of foreign debt.
Topic:
Debt, Investment, Currency, and Debt Restructuring
Political Geography:
Global Focus

2164. Class and Space in Indian Cities

Author:
Vamsi Vakulabharanam and Sripad Motiram
Publication Date:
07-2024
Content Type:
Working Paper
Institution:
Political Economy Research Institute (PERI), University of Massachusetts Amherst
Abstract:
Indian cities have always been marked by stark class disparities and these have only become more pronounced in recent decades. Although academic literature has explored class relations (broadly) in Indian cities, there is a dearth of studies that rigorously explore class-space interactions. Given this, we use a socio-spatial methodology, a rigorous class scheme, and data from a spatially representative survey from Hyderabad and Mumbai that we specially designed to explore city spaces. We use three different notions of space: residence, work, and commuting, and present patterns that are not well-known for Indian cities. Along these three spatial dimensions, we show that class and space mutually determine each other. We show that in both cities, the class distribution varies across residential zones, and how a class fares depends upon its zone of residence. Class location also determines whether the work location of an individual is far from the residential location and the extent of commuting. We demonstrate considerable residential coexistence of classes in city neighborhoods. Apart from being an interesting feature of Indian cities, does this coexistence have any implications? We use an instrumental variable regression to show that class-based spatial integration results in higher economic development. Residents of mixed-class neighborhoods, particularly lower-classes, are less likely to be poor and more likely to be better educated, compared to their counterparts living in segregated neighborhoods. Based on this finding, we make a case for a more integrated and egalitarian restructuring of Indian city spaces.
Topic:
Political Economy, Inequality, Class, and Cities
Political Geography:
South Asia and India

2165. Inequality and the Environment: Global Inequality Research Award Lecture

Author:
James K. Boyce
Publication Date:
07-2024
Content Type:
Working Paper
Institution:
Political Economy Research Institute (PERI), University of Massachusetts Amherst
Abstract:
This lecture, delivered at the ceremony for the inaugural Global Inequality Research Award at Sciences Po in Paris, provides a trajectory of the author’s work on inequality and the environment that was recognized by the award. Thirty years ago, many economists and environmentalists saw inequality as a non-issue. Today there is widespread recognition of its importance. The lecture reviews how inequalities in the distribution of wealth and power affect both the magnitude and incidence of environmental harms and discusses some of the synergies between policies to reduce inequality and to improve environmental quality.
Topic:
Economics, Environment, and Inequality
Political Geography:
Global Focus

2166. Towards a Post-neoliberal Stabilization Paradigm: Revisiting International Buffer Stocks in an Age of Overlapping Emergencies Based on the Case of Food

Author:
Isabella Weber and Merle Schulken
Publication Date:
06-2024
Content Type:
Working Paper
Institution:
Political Economy Research Institute (PERI), University of Massachusetts Amherst
Abstract:
The neoliberal stabilization paradigm of interest rate hikes and austerity left economies around the world unprepared for the shocks to essentials experienced in the overlapping emergencies of war, conflict, climate change, and pandemic. This presents a window of opportunity for a paradigm shift. Neoliberalism became hegemonic through stabilization policy. Post-neoliberalism will require an alternative stabilization paradigm. In this paper we revisit the classic reasoning for buffer stocks by Keynes, Kaldor, Graham, and others as a starting point for this paradigmatic shift. At the core of the neoliberal stabilization paradigm are the assumptions that competitive markets are efficient and that relative price changes ought to be separated from macro-outcomes. In contrast, buffer stock reasoning starts from the inherent instability and inefficiency of commodity markets. Price volatility in essential commodities can lead to sellers’ inflation because of the interaction with administered prices in the industrial sector and can hamper growth and development prospects. We illustrate that the buffer stock reasoning can help understand the 2020-2023 world food price crisis and propose a multi-layered buffer stock system for food staples as a steppingstone in a gradualist transition to post-neoliberalism and a tool for a green transformation of agriculture.
Topic:
Food Security, Finance, Neoliberalism, Macroeconomics, and Stabilization
Political Geography:
Global Focus

2167. The State, Corporations, or the People: Who Benefits from Mining in Zambia?

Author:
Léonce Ndikumana, Dale Mudenda, and Bilen Gurara
Publication Date:
06-2024
Content Type:
Working Paper
Institution:
Political Economy Research Institute (PERI), University of Massachusetts Amherst
Abstract:
The expectations that Zambia’s vast endowment in mineral resources would drive economic transformation and propel the country to higher levels of living standards remain elusive. The country is still confronted with chronic macroeconomic trade and fiscal imbalances, a heavy debt burden, shortage of foreign exchange reserves with attendant pressures on the value of the national currency. The contribution of mineral exploitation to employment, government revenue, foreign exchange earnings, economic growth and poverty reduction remains suboptimal. Yet, the sector continues to attract substantial attention from foreign investors and remains dominated by foreign corporations. So, if the people of Zambia are not reaping adequate benefits from mineral resource exploitation, then who is capturing the rents? This paper provides a review of the history, industrial organization and management of the mining sector, and explores the factors that have constrained the performance of the sector with an emphasis on the role of the ownership structure, the fiscal regime, exposure to external shocks, and lack of transformational orientation of the sector. The paper draws some policy suggestions for the improvement of the performance of the mining sector going forward.
Topic:
Economics, Natural Resources, Mining, and Corporatism
Political Geography:
Africa and Zambia

2168. The Growth of Private Financial Markets

Author:
Lenore Palladino and Harrison Karlewicz
Publication Date:
05-2024
Content Type:
Working Paper
Institution:
Political Economy Research Institute (PERI), University of Massachusetts Amherst
Abstract:
Over the past decade, “private” financial markets, which face little oversight by regulators, have grown to the point where they dominate financial activity. Private funds have approximately tripled in size in the last decade to $26 trillion in gross assets (compared to the $23 trillion in the U.S. commercial banking industry). Private markets raise more in equity than public markets: in 2021, new stock issuances resulted in $434.7 billion, while private markets raised $1.73 trillion in committed funds that same year–almost four times as much. Private markets are structured differently–organized into funds by asset managers as limited partnerships, which shields general managers from liability. The primary dealers in these private markets are venture capital, private equity, private credit funds, and private real asset managers. In this working paper, we examine four institutional shareholder types: public and private pension funders, endowment plans, and foundations. Institutional shareholders now allocate 28-35% of their assets under management to the “alternative” assets of private markets. Pension funds alone currently account for $2.7 trillion in committed funds to private financial markets, the latter of which has ballooned to $26 trillion in gross assets. This development potentially represents new systemic risks to the economy at large and for the institutional shareholders participating in these markets.
Topic:
Economics, Markets, Regulation, and Financial Markets
Political Geography:
Global Focus

2169. The Incidence, Costs, and Correlates of High-Cost, High-Risk Consumer Credit Among Black and Latino Households

Author:
Edwith Theogene and Christian E. Weller
Publication Date:
04-2024
Content Type:
Working Paper
Institution:
Political Economy Research Institute (PERI), University of Massachusetts Amherst
Abstract:
Black and Latino households regularly have a lot less wealth than white households. Many people of color, mainly Black and Latino households, also often have to resort to more costly and risky debt than is the case for white households. We present data from FINRA’s nationally representative 2021 Financial Capability Survey on the distribution of various forms of household credit by race and ethnicity. The data show that incidences of high-cost, high-risk consumer credit is higher among Black and Latino households than among white households. Loan denials, credit market discrimination and credit steering all factors likely contributing to this greater incidence. Further, the costs associated with those forms of credit are also higher for Black and Latino households than they are for white households, even within the same types of credit. Finally, these forms of credit correlate with lower savings, especially among Black and Latino households. The results indicate that the more widespread incidence of consumer credit among Black and Latino households likely contributes to the persistence of the racial wealth gap.
Topic:
Race, Inequality, Discrimination, Credit, Wealth, and Consumer Credit
Political Geography:
North America and United States of America

2170. Marx on Credit and Financial Crises: The Industrial Cycles and the English Experience in the 19th Century

Author:
Henrique de Abreu Grazziotin
Publication Date:
03-2024
Content Type:
Working Paper
Institution:
Political Economy Research Institute (PERI), University of Massachusetts Amherst
Abstract:
This paper presents Marx’s theory of the industrial cycles, creating a synthesis and organizing his approach to this topic, which is fragmented throughout Part 5 of Capital Volume III. Marx’s theory of the industrial cycles explains why and how the credit system periodically drives capitalist production to endogenous business cycles that lead to crises of credit-driven overproduction and financial fragility. The paper presents the basic theoretical elements needed to understand the credit system in Marx’s approach, to later organize Marx’s theory, characterizing each phase of the cycle and indicating the causes of the movements observed for the credit dynamics, which directly affects the capitalist reproduction. It also presents Marx’s historical interpretation of the 1847 crisis in England, analyzing each phase of the cycle and associating it with Marx’s theoretical perspective.
Topic:
Capitalism, History, Macroeconomics, Industry, and Karl Marx
Political Geography:
Global Focus

2171. Can Price Controls Be Optimal? The Economics of the Energy Shock in Germany

Author:
Tom Krebs and Isabella Weber
Publication Date:
03-2024
Content Type:
Working Paper
Institution:
Political Economy Research Institute (PERI), University of Massachusetts Amherst
Abstract:
In the wake of the global energy crisis, many European countries used energy price controls to fight inflation and to stabilize the economy. Despite its wide adoption, many economists remained skeptical. In this paper, we argue that price controls should be part of the policy toolbox to respond to shocks to systemically important sectors because not using them can have large economic and political costs. We put forward our arguments in two steps. In a first step, we analyze the impact on the German economy and society of the global energy crisis that followed Russia’s attack on Ukraine in February 2022. Our analysis shows that energy shocks matter. Specifically, the one-year GDP loss of the energy crisis 2022 amounts to 4 percent and is of a comparable magnitude to the short-run output losses during the COVID-19 crisis 2020 and the global financial crisis 2008. In addition, during the energy crisis 2022 inflation rates rose dramatically and real wages dropped more than in any other year in post-war Germany. There are also clear signs that the crisis is causing severe long-term economic damage (hysteresis effects). At the beginning of 2024, GDP is 7 percent and real wages are 10 percent below their pre-COVID-19 trend. We argue that the German government handled the immediate response to the energy shock well, but subsequently waited too long to introduce an energy price brake in 2022. This failure to act decisively in response to heightened economic insecurity coincided with a strong rise of the approval rates of the far-right AfD in the summer of 2022. We also show that the German energy price brake was an effective price stabilization policy for households, but did not protect the industrial base appropriately making it more likely that the German economy will continue to stagnate. In a final step, we turn to the use of price controls as an optimal policy response to an energy shock within a general equilibrium framework. We develop a simple production model with an energy sector and shows that price controls are socially optimal whenever selffulfilling expectations generate endogenous price uncertainty in the wake of an energy shock. We also link our analysis to the so-called sunspot literature that was developed in the 1980s as a response to the rational-expectations revolution in macroeconomics. Finally, we use our theoretical analysis to shed some light on the economic policy debate and the resistance of German mainstream economists to the introduction of energy price controls in 2022.
Topic:
Economics, Inflation, Macroeconomics, Price Control, Energy, and Stabilization
Political Geography:
Europe and Germany

2172. Beyond Punishment: From Criminal Justice Responses to Drug Policy Reform

Author:
Global Commission On Drug Policy
Publication Date:
12-2024
Content Type:
Special Report
Institution:
Global Commission On Drug Policy
Abstract:
The Global Commission on Drug Policy’s report, Beyond Punishment: From Criminal Justice Responses to Drug Policy Reform, exposes how punitive drug policies have driven mass incarceration and grave human rights violations. In 2023 alone, over 3.1 million people were arrested for drug-related offenses, with 20% of the global prison population detained for such crimes - nearly half for simple possession. The report underscores the devastating consequences of prohibitionist policies, including over one million overdose deaths in the U.S. in the past two decades and 40,000 in Canada in just eight years. It also highlights systemic inequities, such as Indigenous peoples in Canada being six times more likely to face drug-related arrests than white counterparts. Furthermore, the report illustrates the disproportionate burdens on women and children, deepening cycles of poverty and marginalization. It examines the broad spectrum of criminal justice responses to drug offenses, ranging from stop-and-search practices that disproportionately target marginalized communities to extreme measures like the death penalty and enforced treatment. These approaches often violate human rights, perpetuate stigma, and fail to address the root causes of substance use. Offering a roadmap for reform, the report advocates for evidence-based strategies, including harm reduction measures (e.g., Overdose Prevention Centers, naloxone distribution, and safer supply programs), decriminalization and the legal regulation of drug markets. These approaches not only save lives but also reduce societal harms, foster dignity, and promote health and equity.
Topic:
Human Rights, Reform, Criminal Justice, Mass Incarceration, Drugs, and Harm Reduction
Political Geography:
Global Focus

2173. What You Should Know About the Women, Peace, and Security Act of 2017

Author:
Our Secure Future
Publication Date:
01-2024
Content Type:
Policy Brief
Institution:
Our Secure Future
Abstract:
In October 2017, the United States passed the Women, Peace, and Security Act, a piece of landmark legislation that recognizes women as powerful agents of change in peace and security operations. This legislation came into being thanks to the efforts of the US Civil Society Working Group and seeks to make the US a global leader in promoting women’s active engagement in conflict prevention, relief, and recovery. Originally published in 2018, this policy brief includes 2023 updates on the United States WPS Act and serves as a guide on the history, implementation, and funding of the act.
Topic:
Security, Civil Society, Women, Legislation, Peace, Women, Peace, and and Security Act
Political Geography:
North America and United States of America

2174. Institutionalizing Women, Peace and Security The Role of Gender and Women, Peace and Security: Advisors in the United States Government

Author:
Kelly Case
Publication Date:
04-2024
Content Type:
Policy Brief
Institution:
Our Secure Future
Abstract:
This brief assesses the United States government’s progress on advancing the Women, Peace and Security agenda through the work of Women, Peace and Security Advisors, Gender Advisors, and additional positions that have this as a component of their work. It is designed as a starting point for discussion to help policymakers: improve their understanding of these roles; strengthen their knowledge on why this agenda can help achieve more durable peace around the world; and provide recommendations on how to create a more robust infrastructure to better support these critical roles.
Topic:
Security, Women, Peace, and Institutionalization
Political Geography:
North America and United States of America

2175. 2021–2022 Global Resources Report: Government & Philanthropic Support for LGBTI Communities

Author:
Global Philanthropy Project (GPP)
Publication Date:
06-2024
Content Type:
Special Report
Institution:
Global Philanthropy Project (GPP)
Abstract:
The 2021–2022 Global Resources Report: Government & Philanthropic Support for Lesbian, Gay, Bisexual, Transgender, and Intersex Communities is the most comprehensive report to date on the state of global funding for lesbian, gay, bisexual, transgender, and intersex (LGBTI) issues. This report documents data on over 20,000 grants awarded by nearly 1,300 foundations, intermediary NGOs, and corporations and by 16 donor government and multilateral agencies to over 8,000 grantees during the two-year period of 2021–2022.
Topic:
Civil Society, LGBT+, NGOs, Philanthropy, Funding, Transgender, Resources, and Intersex
Political Geography:
Global Focus

2176. The State of Intersex Organizing 3rd Edition

Author:
Julia Lukomnik, Somjen Frazer, Mauro Cabral Grinspan, and Ezra Nepon
Publication Date:
10-2024
Content Type:
Special Report
Institution:
Global Philanthropy Project (GPP)
Abstract:
The third edition of the State of Intersex Organizing survey was launched in October 2023 and received participation from 151 intersex respondents worldwide. The results provide illuminating insight into intersex organizations’ priorities, activities, needs, and experiences. The survey results also document their funding sources, budget sizes, and other elements related to movement sustainability, as well as their capacity to serve intersex people. The reports include the findings of global surveys, comparison with Global Resources Report funding data, case studies, recommendations, and more.
Topic:
Civil Society, LGBT+, NGOs, Intersex, and Organizing
Political Geography:
Global Focus

2177. The State of Trans Organizing 3rd Edition

Author:
Julia Lukomnik, Somjen Frazer, Mauro Cabral Grinspan, and Ezra Nepon
Publication Date:
10-2024
Content Type:
Special Report
Institution:
Global Philanthropy Project (GPP)
Abstract:
The third edition of the State of Trans Organizing survey was launched in October 2023 and received participation from 449 respondents worldwide. The results provide illuminating insight into trans organizations’ priorities, activities, needs, and experiences. The survey results also document their funding sources, budget sizes, and other elements related to movement sustainability, as well as their capacity to serve trans people. The reports include the findings of global surveys, comparison with Global Resources Report funding data, case studies, recommendations, and more.
Topic:
LGBT+, NGOs, Transgender, and Organizing
Political Geography:
Global Focus

2178. Surviving the War: Russia-Western Balkan Ties After the War in Ukraine

Author:
Maksim Samorukov
Publication Date:
04-2024
Content Type:
Commentary and Analysis
Institution:
Belgrade Centre for Security Policy (BCSP)
Abstract:
Russia’s invasion of Ukraine in February 2022 pushed Europe into a new era of instability. The fundamentals of the continent’s political and economic order are shifting as Russia’s brutal methods of war undermine the prospects of the slightest cooperation between Moscow and European states. Decades-old trade links have been severed, transport corridors rerouted, and people-to-people contacts have become more scarce than ever. Europe is reshaping its security architecture around Russia as the main threat, while Moscow frames its aggression against Ukraine as an existential defensive war with a duplicitous West. The only European region that stands out in this process of growing mutual alienation is the Western Balkans. More than a year into the war, Russia’s relations with several Balkan states appear to have undergone little change. Serbia is eagerly continuing with energy deals with Gazprom, Bosnian Serb leaders frequent Moscow on official visits, and some leading Montenegrin parties are sticking to pro-Russian slogans. It would appear that time stands still in the Western Balkans, with petty local grievances overriding major global developments This publication was produced with the support of the Open Society Foundations (OSF). Responsibility for the content of this publication belongs solely to Belgrade Centre for Security Policy.
Topic:
Foreign Policy, Trade, Regional Politics, and Russia-Ukraine War
Political Geography:
Russia, Europe, Ukraine, and Balkans

2179. The Spillover Effect: The Gaza Conflict and Potential Ramifications to the Western Balkans

Author:
Vuk Vuksanović
Publication Date:
01-2024
Content Type:
Commentary and Analysis
Institution:
Belgrade Centre for Security Policy (BCSP)
Abstract:
This report outlines potential security and geopolitical risks for the Western Balkans stemming from the war in Gaza. While none of these security challenges are inevitable, they are possible. Depending on whether the conflict in Gaza continues in its current form or whether it escalates in intensity and number of belligerents, there are at least three potential ramifications for the Western Balkans. The first concerns the potential radicalisation in the local Muslim communities involving anti-Semitism and acts of violence that could disrupt harmony between local religious communities. The second concerns the risk that if the conflict expands to engulf Iran and Hezbollah and potentially other regional actors, there is a risk that this security rivalry between Middle Eastern players like Israel and Iran will spread to the Western Balkans. Thirdly, depending on the geographical scope and duration of the conflict, there is a potentially high risk of a new refugee crisis impacting the region.
Topic:
Security, Radicalization, Geopolitics, Refugees, 2023 Gaza War, and Antisemitism
Political Geography:
Europe, Middle East, Israel, Palestine, Gaza, and Western Balkans

2180. Russian Propaganda in Serbia and the Western Balkans: The Case of Telegram Channels

Author:
Polina Greisman
Publication Date:
02-2024
Content Type:
Commentary and Analysis
Institution:
Belgrade Centre for Security Policy (BCSP)
Abstract:
This study is based on the analysis of open data obtained from the Internet, dealing with Telegram channels that are directly connected to official Russian media. Serbia is no exception to the list of countries whose internal affairs found themselves on the receiving end of Russian government interference. However, due to the friendly relations between Russia and Serbia, these facts are rarely made public. Also, not all of them are obvious, at first glance, as propaganda and interference. That is why we will look at this issue in this study and, using the example of Serbia, find out what methods of propaganda and intervention Russia is using in a country that can be described as “friendly.” This study shows the propaganda tools that Russia is using in the Balkans, particularly in Serbia and Montenegro. It also contains an analysis of propaganda narratives that appear in the Russian media operating in the Balkans, and their comparison with propaganda narratives in the media that operate in Russia.
Topic:
Media, Propaganda, Disinformation, and Telegram
Political Geography:
Russia, Europe, Serbia, and Western Balkans