Economic sanctions and import substitution

Vorotnikov, I.L.; Sukhanova, Irina Fedorovna; Lyavina, Mariya; Glukhova, Marina; Петров, К. А.

doi:10.9770/jesi.2019.6.4(23)

Cited by 10 publications

(12 citation statements)

References 5 publications

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“…After the Ukrainian crisis, the economic countersanctions intensified against more individuals and banned the import of agricultural products from countries imposing sanctions on Russia, starting with the EU, the US, and Turkey in July 2014. The Russian government began to introduce different measures to decrease the import-dependence in different fields, for example, in the mining industry (Vorotnikov et al, 2019).…”

Section: Retrospective and Specifics Of Economic Sanctions Imposed On Russiamentioning

confidence: 99%

“…Companies are entering new local and foreign markets to mitigate the negative effect of lost agreements (Golikova & Kuznetsov, 2017). They also need to look for new partnerships in the field of supplying good and services in Russia and abroad (Vorotnikov et al, 2019). In addition, the economic sanctions have cut off Russian companies from the global economic and financial system (Gould-Davies, 2018).…”

Section: Prospects Of Cooperationmentioning

confidence: 99%

“…Companies operating internationally are more flexible to enter onto new agreements in foreign markets, but they are not at the forefront in terms of entering into new agreements with local partners. However, it is important to emphasize that, on average, companies admit that it is challenging to find a proper substitute in the Russian market (Vorotnikov et al, 2019). Despite the fact that import replacement opened up new opportunities for finding a substitution in the local market, this policy had its limits, since some equipment had never been produced in Russia before, and it requires some time to launch manufacturing.…”

Section: Prospects Of Cooperationmentioning

confidence: 99%

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Sanctions, cooperation, and innovation: Insights into Russian economy and implications for Russian firms

Panibratov

2021

BJE

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The aim of this paper is to reveal the effects of sanctions at the firm level, with the special attention to cooperation and innovation activity of sanctioned firms. Specifically, the differences between domestic and international companies in their ability to adapt to the sanctions in terms of their cooperation with partners and capability to innovate are discussed. The study argues that firms operating in international markets tend to prioritize product innovation and entering new markets to overcome negative consequences of sanctions. In addition, they are more likely to improve their products and to find new markets to compensate for losses and fill their unused capacities. An important finding having both managerial and political value is that operating in the international market may not necessarily provide an advantage in terms of new partners in the local market but rather facilitate the search for new foreign markets. Inviting the government to provide assistance for Russian domestic and international firms on an equal basis, we admit that with varying degrees of control and interest in national firms, the Russian government can help sanctioned companies in different ways, regardless the scale of their internationalization. The study contributes to the literature on the impact of economic sanctions at the firm-level and in the context of the domestic market of the sanctioned country.

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Section: Retrospective and Specifics Of Economic Sanctions Imposed On Russiamentioning

confidence: 99%

Section: Prospects Of Cooperationmentioning

confidence: 99%

Section: Prospects Of Cooperationmentioning

confidence: 99%

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Sanctions, cooperation, and innovation: Insights into Russian economy and implications for Russian firms

Panibratov

2021

BJE

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“…Export as an integral part of foreign economic activity has long been one of the main ways to raise money for Russian budget. After the introduction of sanctions by the United States and European countries and counter sanctions by the Russian Federation in 2014, our country's export policy changed (Vorotnikov et al, 2019). The volume of exports to Ukraine and other countries has significantly decreased.…”

Section: Introductionmentioning

confidence: 99%

Modeling And Forecasting Of Russian Foreign Economic Activity Indicators: Econometric Approach

Sukhanova¹,

Shirnaeva²

2021

Global Challenges and Prospects of the Modern Economic Development Proceedings of Global Challenges and Prospects of the Modern

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“…Despite an increase in the investment activity of domestic producers and the import substitution policy (Vorotnikov et al, 2019) imported biotech drugs dominate the Russian market. Reasons for the lack of a sufficient number of innovative domestic medical drugs include a payback period of innovation and R&D in biopharmaceutics, high risks, and lack of clear government regulation and distribution guarantees.…”

Section: Introductionmentioning

confidence: 99%

Model of statistical economic profile of innovative biomedical product value formation and update

Maslova¹,

Maslov²,

Коростелкина³

et al. 2019

JESI

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Modern global science develops various concepts, theories, and models that have a certain value in different sectors of national economy. While there is a significant scientific foundation in the field of basic and applied research in biomedicine and biotechnology nowadays, this line has not gained proper momentum in economic terms. This concerns both formation of value, including value added, of innovative biomedical products and its accounting at the micro level, as well as innovation value formation and update at the government level. For these purposes, it is proposed to use statistical accounting as the basis for studying the quantitative side of innovative product value creation stages in the medical field. The purpose of statistical accounting is both to accumulate the most complete meaningful information and data characterizing essential conditions of these processes and their results and to create an information base for regulating the phenomena of added value formation and update in the field of biomedicine and analyzing their trends and patterns based on a system of interrelated quantitative and qualitative indicators. The article forms a macro-and mesostructure of a statistical economic profile of innovative biomedical product value formation and update and shows the level of cost blocks in groups of cost indicators of the profile. An equation for value formation in major elementary subprocesses was derived: full or partial employment of resources, formation of added value of a staple product, resources, and by-products. The proposed mathematical model is decomposed into three equation components: full and partial employment of resources as well as generation of all the elements of value added. Introduction of the authors' development would allow to ensure a systematic quantitative assessment of key aspects of the added value formation and update processes in the field of biomedicine.

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Economic sanctions and import substitution

Cited by 10 publications

References 5 publications

Sanctions, cooperation, and innovation: Insights into Russian economy and implications for Russian firms

Sanctions, cooperation, and innovation: Insights into Russian economy and implications for Russian firms

Modeling And Forecasting Of Russian Foreign Economic Activity Indicators: Econometric Approach

Model of statistical economic profile of innovative biomedical product value formation and update

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