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Sanctions: seriously and for a long time

Санкции: всерьез и надолго

Alexander Knobel, Княз Багдасарян (), Loshchenkova, Anna (Лощенкова, Анна) () and Proka, Ksenia (Прока, Ксения) ()
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Loshchenkova, Anna (Лощенкова, Анна): Gaidar Institute for Economic Policy
Proka, Ksenia (Прока, Ксения): The Russian Presidential Academy of National Economy and Public Administration

Published Papers from Russian Presidential Academy of National Economy and Public Administration

Abstract: The report discusses the theoretical aspects of economic sanctions to assess and classify the restrictive measures used by the initiating countries in relation to Russia. Recommendations are proposed for the conduct of economic policy in the context of sanctions based on an analysis of the restrictive measures applied to Russia, their impact on the economy, as well as the assessment of the experience of various countries in countering sanctions. An assessment of the negative impact of sanctions on the economy of the Russian Federation is given - about 1 pp of GDP per year. It is shown that the most effective anti-sanctions policy is not the introduction of symmetrical measures and the closure of the markets for goods / services / capital, but the policy of “aggressive” openness of markets to cooperation. It is revealed that the main negative channel of the impact of sanctions on the Russian economy consists not so much in the level of sanctions as in maintaining uncertainty about future sanctions parameters. In this regard, in the short and medium term, it is advisable to focus on stabilizing the current level of sanctions to reduce uncertainty, rather than on their full or partial cancellation.

Pages: 80 pages
Date: 2019-01
New Economics Papers: this item is included in nep-cis and nep-tra
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