Volltext herunterladen
(externe Quelle)
Zitationshinweis
Bitte beziehen Sie sich beim Zitieren dieses Dokumentes immer auf folgenden Persistent Identifier (PID):
https://doi.org/10.1016/j.ruje.2016.02.002
Export für Ihre Literaturverwaltung
The impact of financial sanctions on the Russian economy
[Zeitschriftenartikel]
Abstract This paper examines the impact of the current Western financial sanctions on the Russian economy. Modeling the capital flow components (accounting for the influence of other factors, including falling oil prices) reveals that sanctions have directly affected sanctioned state-controlled banks, oil, g... mehr
This paper examines the impact of the current Western financial sanctions on the Russian economy. Modeling the capital flow components (accounting for the influence of other factors, including falling oil prices) reveals that sanctions have directly affected sanctioned state-controlled banks, oil, gas and arms companies by severely constraining foreign funding and have indirectly affected non-sanctioned companies by reducing inflows of foreign direct investment and causing funding conditions to deteriorate. The overall negative effect on gross capital inflow over 2014-2017 is estimated at approximately $280bn. However, the effect on net capital inflow is significantly lower ($160-170bn) due to Russian companies' self-adjustment, which is evidenced by their utilization of foreign assets accumulated earlier for debt repayment and an overall decrease in gross capital outflow. The sanctions' estimated effect on GDP is significant (-2.4 p.p. by 2017, compared with a hypothetical scenario with no sanctions) but 3.3 times lower than the estimated effects of the oil price shock.... weniger
Thesaurusschlagwörter
Russland; wirtschaftliche Sanktion; wirtschaftliche Folgen; Verschuldung; Ausland
Klassifikation
Volkswirtschaftslehre
Freie Schlagwörter
financial sanctions; balance of payments adjustment; capital flows
Sprache Dokument
Englisch
Publikationsjahr
2015
Seitenangabe
S. 359-385
Zeitschriftentitel
Russian Journal of Economics, 1 (2015) 4
ISSN
2618-7213
Status
Veröffentlichungsversion; begutachtet
Lizenz
Creative Commons - Namensnennung, Nicht kommerz., Keine Bearbeitung 4.0