Transmission to a low-carbon economy and its implications for financial stability in Russia

Anna Burova, Elena Deryugina, Nadezhda Ivanova, Maxim Morozov () and Natalia Turdyeva
Additional contact information
Maxim Morozov: Bank of Russia, Russian Federation

No wps109, Bank of Russia Working Paper Series from Bank of Russia

Abstract: Energy transition and climate policies associated with it may become one of the major challenges for the Russian economy. We present an approach to assessing consequences of climate policy for Russia and evaluating related transition risks for the country’s financial system. This approach relies on a CGE model for the Russian economy and a financial model based on firm-level data. We show that both international and domestic climate policies affect the financial stability of the Russian Federation. The effects of international climate actions summarised in the NGFS Net Zero 2050 scenario are bigger than the effects of the introduction of a domestic emission trading system with a reduction goal of the Intensive scenario of the Russian state strategy of low-carbon development.

Keywords: Russia; climate policy; energy transition; transition risk; financial stability; CGE (search for similar items in EconPapers)
JEL-codes: C68 E51 E62 G10 G21 Q52 Q54 Q58 (search for similar items in EconPapers)
Pages: 87 pages
Date: 2023-02
New Economics Papers: this item is included in nep-cba, nep-cis, nep-ene and nep-env
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://cbr.ru/StaticHtml/File/145114/wp_109.pdf (application/pdf)
Our link check indicates that this URL is bad, the error code is: 403 Forbidden

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bkr:wpaper:wps109

Access Statistics for this paper

More papers in Bank of Russia Working Paper Series from Bank of Russia Contact information at EDIRC.
Bibliographic data for series maintained by BoR Research ( this e-mail address is bad, please contact ).