It has been difficult to find examples of in-depth analysis on the impact of economic crises, past or present, on conflict, fragility and social stability. Many of the experts contacted for this research report, while recognising the importance of the question, were unable to point towards relevant literature. This report aims to build a picture from the limited information that is available. It is likely that the wider literature on the links between economic development and conflict would provide some useful direction on this issue – indeed, this point is made in some of the literature included below. However, this large body of literature is beyond the scope of this report, which focuses on the impact of economic shocks on conflict and social stability. Nevertheless, some references have been provided in Section 8 below.

Impact of financial situation on state fragility and conflict – GSRD Report