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Russian Business under Economic Sanctions: Is There Regional Heterogeneity?

Yoshisada Shida

No 1903, Discussion papers from ERINA - Economic Research Institute for Northeast Asia

Abstract: The sanctions against Russia, beginning in early 2014, provide us with a unique opportunity to study whether, and how sanctions affect a vast territorial global superpower. This study attempts to empirically examine the economic impact of this event, paying particular attention to the existence or inexistence of its regional heterogeneity. For these purposes, this study used a dataset from a survey that asked the executive managers of Russian regional companies to assess the impact on their management activities in late 2015. The key findings are as follows. First, approximately half of those interviewed perceived the economic sanctions as having a negative impact. Second, no regional variations in the impact of the sanctions could be found. It follows that financial, institutional-framework sanctions, aimed at an entire nation, exert a significant and geographically uniform impact. Moreover, even regional businesses near the Asia-Pacific region, holding strong connections with Asian countries, cannot avoid its impact.

Keywords: economic sanctions; enterprise survey; Far East; Russian economy (search for similar items in EconPapers)
JEL-codes: M2 F51 P20 R11 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cis and nep-tra
Date: 2019-04
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