Impacts of EU Sanctions Levied in 2014 on Individual European Countries' Exports to Russia: Winners and Losers
Morad Bali,
Thanh T. Nguyen and
Lincoln F. Pratson
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Thanh T. Nguyen: Leibniz Universität Hannover
Lincoln F. Pratson: Duke University
Eastern Economic Journal, 2024, vol. 50, issue 2, No 2, 154-194
Abstract:
Abstract We analyse the effects of sanctions implemented by the European Union against Russia following the latter’s annexation of Crimea in 2014. Indirect effects of sanctions on its non-prohibited exports to Russia are examined using a gravity model of trade that includes a time varying sanction index. A per country analysis is also incorporated to increase the granularity of the results. We find that sanctions led to a decrease in exports of non-prohibited products from certain European countries (i.e., the “losers”) while increasing such exports from others (i.e., the “winners”), an outcome that qualifies as an “unintended consequence” of the sanctions.
Keywords: Economic sanctions; Sanction index; Gravity model; Russia; European union (search for similar items in EconPapers)
JEL-codes: C1 C51 F (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:pal:easeco:v:50:y:2024:i:2:d:10.1057_s41302-024-00266-5
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DOI: 10.1057/s41302-024-00266-5
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