“…According to them, besides the tragic loss to both humans and infrastructure, the increasing conflicts in Iraq, Libya, Yemen and the Syrian Republic have also resulted serious economic consequences, including economic slowdowns, higher inflation, fiscal deficit, financial and even institutional loss. Not only that, another serious impact of these conflicts is their contagion effects on neighbouring countries including Jordan, Tunisia, Turkey and Lebanon and more importantly, their significant spillovers to broader Middle East and even to European regions (Rother et al., , p.5). Their study also showed that, owing to quite a high number of refugees, these countries are facing threats to their economic confidence and security as well as their institutional arrangements; and their capacity to bring about policy reforms is seriously affected.…”