This article scrutinizes the multifaceted challenges inherent in intergovernmental coordination across various sectors, with a particular emphasis on sustainable development and entrepreneurial activity within the Republic of Moldova. It argues that despite the existence of intergovernmental cooperation, it often manifests as deficient, contradictory, incomplete, and inefficient. Through a meticulous analysis, this study delineates the roles of pertinent authorities and institutions in fostering the sustainable development of entrepreneurial activities, identifying critical inter-institutional coordination issues and challenges. The discourse extends to examining institutional processes and the extent to which policies, laws, and international standards are implemented to nurture and sustain business activities. Moreover, the paper explores various strategies to cultivate responsible, transparent, and effective dialogue between institutions, thereby promoting innovative practices, expanding cooperation, and fostering partnerships with national and civil society organizations, including international bodies.

Relying on the D-Vine copula model, this paper delves into the hedging capabilities of Brent crude oil against the exchange rate of oil-exporting and oil-importing nations. The results affirm Brent crude oil’s role as a safeguard and a refuge against the fluctuations of major currencies. Furthermore, we reaffirm that oil retains its robust hedging and safe-haven attributes during times of crisis, with currency co-movements across all countries exhibiting greater correlation than during the entire dataset. Additionally, our empirical findings highlight an unusually positive correlation between Brent crude oil and the Russian exchange rate during the Russia-Ukraine conflict, demonstrating that oil functions as a less effective hedge and a less dependable refuge for the Russian exchange rate in such geopolitical turbulence.