Budapest Business University’s journal Prosperitas is inviting papers for its special issue entitled “Economic, diplomatic and cultural challenges” to be published foreseeably in 2023.

The Covid-19 pandemic and the armed conflict between Russia and Ukraine have posed serious economic challenges for the European and global economy. While economic crises are not new to researchers, the emergence and impact of the Covid19 crisis was a new event in economic history. In Europe, many countries are currently struggling with the energy crisis caused by the Ukraine war and a high inflationary environment. In addition, people are also facing the long-standing challenges of climate change and migration crisis. All these factors affect our lives. It is fair to say that global or regional organisations have not been able to deliver tangible results in the fight against global risk factors. It is therefore important to learn about good practices that different countries have adopted to tackle the Covid-19 epidemic and other global risks, and to learn about their experiences related to sustainable development.

The World Bank has carried out a number of studies on economic, diplomatic and cultural challenges that have a significant impact on both developing and developed countries. The key economic challenge is constant change in the current global economic system, which is often unpredictable and unstable. Among diplomatic challenges, the biggest is the management and resolution of international conflicts. Conflicts have a negative impact on economy and development (World Bank, 2023). 

According to the World Economic Forum’s Global Risks Report, the biggest economic challenges facing the world are a debt crisis, a weakening economic environment and the limits to globalization (WEF, 2023).

The current situation in the world has shown that the coronavirus and its global spread are already causing a widespread economic crisis (Papava & Charaia, 2020). 

The COVID-19 crisis and the conflict situation between Russia and Ukraine are seriously affecting world economy. Emerging economies and developing countries in Europe are affected by the crisis, with inflation rates reaching 27 percent and economic growth in the region registering negative 2.9 percent. Short-term risks to economies include rising interest rates, exchange rate volatility, the risk of stagflation and rising energy prices, the issue of sustainable development goals and green considerations, the risk of hyperinflation, and long-term strategic challenges for economies (Desalegn et al., 2022).

Globalisation and countries’ economic performance in international relations are leading to the emergence of different models of diplomacy in an attempt to respond appropriately to challenges and threats (Bokhan & Zalizniuk, 2022). As a result of globalisation, international economy has become a scene of direct and indirect conflicts of interest between different actors. In addition, international economy has provided states with a new tool for their foreign policy and economic diplomacy (Safronova, 2021).

Prosperitas’ special issue entitled “Economic, diplomatic and cultural challenges” is keen to present young and well-established researchers’ studies from all over the world – and including the Visegrad Group countries – about on current developments and challenges in diverse fields of multi- and interdisciplinary science, as well as in diplomatic and business practice.

In line with its title, the special issue is intended to provide an internationally contextualised overview of the processes and phenomena currently affecting countries, facilitating international scientific discourse and supporting policy decisions.

The special issue will publish research papers, conceptual papers and viewpoints. Please, visit Prosperitas’ website for further information about manuscript submission:

Deadline: submit your article at by 15th September 2023 the latest. When submitting your contribution, in Step 1 of the uploading process, from the drop-down menu please choose the following type of manuscript: Original Article for Special Issue 2023. 

Guest Editor: Dr. Petronella Molnár, Budapest Business University, Hungary


Bokhan, A. & Zalizniuk V. (2022): Economic Diplomacy in New Projections of Activation, Baltic Journal of Economic Studies 8(4):19-25.

Desalegn, G., Tangl, A., Fekete-Farkas, M. (2022). From Short-Term Risk to Long-Term Strategic Challenges: Reviewing the Consequences of Geopolitics and COVID-19 on Economic Performance, SUSTAINABILITY 14: 21 Paper: 14455.

Papava, V. & Charaia, V. (2020). The Coronomic Crisis and Some Challenges for the Georgian Economy, GFSIS, Expert Opinion, No. 136.

Safronova E.I. (2021). Chinese Economic Diplomacy before and during the COVID-19 Pandemic. Moscow University Bulletin of World Politics. 13(3):151-189. (In Russ.)

World Economic Forum (2023). The Global Risks Report 2023, (downloaded 24 03 2023)

World Bank (2023). Global Economic Prospects, (downloaded 24 03 2023)