Sanctions and dollar dependency in Russia: resilience, vulnerability, and financial integration

Andermo, Erik; Kragh, Martin

doi:10.1080/1060586x.2021.1913932

Cited by 12 publications

(9 citation statements)

References 26 publications

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“…What is more, sanctions or Russia's reaction to them can trigger a process of economic transformations (regional shift, import substitution, etc.). Their impact on the global economy is quite difficult to assess given the increasing interdependence between multiple economic actors (Connolly, 2015;Davydov et al, 2022;Korhonen, 2019), as well as the increasing chaoticity in the system of international political relations and weak predictability of global development trends (Andermo, 2021;Belozerov & Sokolovskaya, 2022;Mardones, 2022).…”

Section: Literature Reviewmentioning

confidence: 99%

The impact of economic sanctions on the industrial regions of Russia (the case of Sverdlovsk region)

Stepanov¹,

Burnasov²,

Валиахметова³

et al. 2022

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Relevance. The turbulence of the global economy and pressure from sanctions have become a serious challenge for the Russian economy. Industry is hit the hardest as it is involved in the international division of labor and creation of value chains, unlike other branches of material production. It is, therefore, necessary to conduct in-depth research on these processes in order to provide Russian industrial regions with effective strategies to adapt to this new geo-economic reality. Research objective is to identify trends and prospects for the development of Russian industrial regions in the context of international sanctions pressure. A particular focus is made on the case of Sverdlovsk region, which has a high concentration of mining and manufacturing enterprises. Data and methods. The study applies a systematic approach by using methods of structural, statistical and comparative analysis. Statistical materials of relevant ministries and departments of the government of Sverdlovsk region as well as the data from international databases comprise the empirical basis of the study. The results of the survey of 50 managers from 12 logistics companies of Sverdlovsk region have been analyzed as well. The survey was carried out from January, 2022 to August, 2022. Results. The study has shown the complex effects of the international economic sanctions on the trajectory and dynamics of the development of the industrial sector in Russia. The study describes the scenarios of the industrial development of Sverdlovsk region involved in the process of import substitution and transformation of logistics and value chains. Conclusions. These findings can be of interest to policy-makers on the national and regional levels as well as businesses involved in import substitution programs.

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Section: Literature Reviewmentioning

confidence: 99%

The impact of economic sanctions on the industrial regions of Russia (the case of Sverdlovsk region)

Stepanov¹,

Burnasov²,

Валиахметова³

et al. 2022

View full text Add to dashboard Cite

show abstract

“…For instance, we can make extrapolations from some well-researched consequences of the already existing individual and sub-sectoral measures that have been in place since 2014. Two detailed studies published in 2021, by Erik Andermo and Martin Kragh (2021) in the journal Post-Soviet Affairs as well as by Anders Aslund and Maria Snegovaya (2021) in a report for the Atlantic Council, have demonstrated considerable negative indirect repercussions for Russia's economic growth of the rather limited Western sanctions that have been in place during the last seven years. While these minor measures have not led to a Russian economic decline, they have prevented a likely higher economic growth since 2014.…”

Section: The Unused Power Of Sanctionsmentioning

confidence: 99%

“…It also encouraged Kyiv to not deploy its own troops in Southern Ukraine to resist the Russian aggression. The minor Western sanctions imposed on Crimea after the annexation were too little, too late (Andermo and Kragh 2021; Åslund and Snegovaya 2021). The result of the West's restrained behavior was neither a resolution of the Crimea issue nor an achievement of peace.…”

Section: How Russia Learned To Love Escalationmentioning

confidence: 99%

Commentary – Should Washington Have Pressed Kyiv Into a Compromise With Moscow?

Umland

2022

World Affairs

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This article was submitted in late 2021, and became dated after Russia's demonstrative preparation as well as start of an open, large-scale invasion of Ukraine early 2022. We nevertheless publish this commentary here in order to document the debate about the events leading to the escalation. No adaptations to the original 2021 article were made after the outbreak of high-intensity war on 24 February 2022. Avoiding a larger military escalation in the Russian–Ukrainian conflict is an important aim. Yet, historical experience suggests that concessions by Ukraine or its Western partners toward Russian revanchist aspirations in the Donbas may not help achieve it. On the contrary, Western softness, and Ukrainian weakness vis-à-vis the Kremlin will lead to further confrontation.

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“…However, since 2014, Russia's economic situation has deteriorated sharply: economic recession, soaring inflation, rising unemployment rate, intensified environmental pollution, etc. (Andermo and Kragh, 2021; Nusratullin et al, 2021). This has led to a loss of 280 billion USD for the Russian economy and reduced its GDP by 2.4% (Ulyukaev and Mau, 2015; Christie, 2016).…”

Section: Introductionmentioning

confidence: 99%

Research on the Evolution Trend of Carbon Emissions under Exogenous Shocks: Evidences from Russia

Yong-kun

Zhao

Ruxin

2023

Journal of Resources and Ecology

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At present, carbon intensity in the economy has become a realistic problem faced by many countries.Decarbonization and green development have gradually become one of the main trends in the world, and major countries around the world have put forward carbon neutrality targets. Russia is one of the largest greenhouse gas emitters in the world. Therefore, under the current international situation of The Russia-Ukraine war and the exogenous impact on Russia's economy and finance, it is of great significance to study Russia's carbon emissions for Russia's economic development, environmental protection and global green development. In recent years, Russia's carbon intensity has remained high, which may be caused by several factors, such as the decline in actual investment level, single industrial structure, excessive dependence on oil and gas industry, external shocks to the Russian economy in 2014 and other macroeconomic factors. The purpose of this study is to identify trends in carbon intensity during the period of exogenous shocks to the Russian economy and financial sector from 2014 to 2018, and to explain the causes. First, the synthetic control method is used to examine the changes in Russia's carbon intensity since 2014, and the results show that since 2014, Russia's carbon intensity has increased significantly; Secondly, using the mediation effect analysis model to test the impact mechanism, it is found that since 2014, the Russian industrial structure has not been actively improved, but instead increased its dependence on the resource industry, thereby increasing carbon emissions. Combined with the tail effect analysis, Russia has faced significant economic pressure, and its carbon intensity is unlikely to return to the state before 2014 in the short term.

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Sanctions and dollar dependency in Russia: resilience, vulnerability, and financial integration

Cited by 12 publications

References 26 publications

The impact of economic sanctions on the industrial regions of Russia (the case of Sverdlovsk region)

The impact of economic sanctions on the industrial regions of Russia (the case of Sverdlovsk region)

Commentary – Should Washington Have Pressed Kyiv Into a Compromise With Moscow?

Research on the Evolution Trend of Carbon Emissions under Exogenous Shocks: Evidences from Russia

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