From Russia with Love: International Risk-sharing, Sanctions, and Firm Investments

Kiet Duong (), Toan Huynh (), Anh Phan () and Nam Vu ()
Additional contact information
Kiet Duong: University of York.
Toan Huynh: Queen Mary University of London
Anh Phan: University of Liverpool
Nam Vu: Miami University

No 119, Working Papers from Queen Mary, University of London, School of Business and Management, Centre for Globalisation Research

Abstract: We propose a novel explanation for why sanctions on Russian firms might not work as intended: these firms' ability to diversify sanction risks via partner countries friendly with Russia. Using indirect links with partner firms as a plausibly exogenous proxy for this risk-sharing channel, we show that exposed Russian firms were able to leverage these links to alleviate the negative impacts of sanctions in 2014.

Keywords: International risk-sharing; sanction; Russia; firm-level (search for similar items in EconPapers)
JEL-codes: F31 F41 F42 F51 (search for similar items in EconPapers)
Pages: 27 pages
Date: 2024-08
New Economics Papers: this item is included in nep-bec, nep-cis, nep-int, nep-net and nep-opm
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Persistent link: https://EconPapers.repec.org/RePEc:cgs:wpaper:119

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