Generate QR code
Open Access
Subscription Access
Assessing the impact of sanctions on russian companies performance
https://doi.org/10.32609/0042-8736-2016-3-34-45
Abstract
The paper presents the estimation of sanctions influence on the results of domestic companies on the basis of spillover effects. It is shown that the strength of sanctions influence is mainly determined by the processing chain in terms of industry foreign trade relations structure. During the whole period under analysis (from 2005 to 2012) the companies’ earnings were influenced mostly by German investment (import, export and horizontal country spillovers are significant). Investment from China also affected national companies during the crisis of 2008-2009. Import-driven (productive) industries suffer from sanction regime that is confirmed by the significance of import and export spillover of FDI from the countries, which introduced the sanctions.
About the Authors
E. Fedorova
Financial University under the Government of RF; National Research University Higher School of Economics
Russian Federation
Russian Federation
M. Fedotova
Financial University under the Government of RF
Russian Federation
Russian Federation
A. Nikolaev
Financial University under the Government of RF
Russian Federation
Russian Federation
References
1. Gradov A. P. (ed.) (2011). Cyclical economy development and management of competitive advantages. St. Petesburg: Poltorak. (In Russian).
2. Fedorova E., Barikhina Yu. (2015). Assessing horizontal and vertical spillover effects from foreign direct investment in Russia. Voprosy Ekonomiki, No. 3, pp. 46—60. (In Russian).
3. Alfaro L. (2003). Foreign direct investment and growth: Does the sector matter? Boston, MA: Harvard Business School.
4. Becker S. O., Muendler M.-A. (2008). The effect of FDI on job security. BE Journal of Economic Analysis & Policy, Vol. 8, No. 1, pp. 1-45.
5. Benz S., Larch M., Zimmer M. (2014). Trade in ideas: Outsourcing and knowledge spillover. Leibniz Information Centre for Economics. IFO Working Paper, No. 173.
6. Chidambaran I. (2009). Foreign firms and inter-industry spillovers in Indian manufacturing: Evidence from 1989 to 2004. Margin: The Journal of Applied Economic Research, Vol. 3, No. 3, pp. 297-317.
7. Girma S., Holger G., Pisu M. (2008). Exporting, linkages and productivity spillovers from foreign direct investment. Canadian Journal of Economics, Vol. 41, No. 1, pp. 320-340.
8. Greenaway D., Sousa N., Wakelin K. (2004). Do domestic firms learn to export from multinationals? European Journal of Political Economy, Vol. 20, No. 4, pp. 1027-1043.
9. Harris R. I. D., Robinson C. (2004). Industrial policy and its effect on total factor productivity in UK manufacturing plants, 1990-1998.
10. Scottish Journal of Political Economy, Vol. 51, No. 4, pp. 528-543.
11. Kneller R., Pisu M. (2004). Export-oriented FDI in the UK. Oxford Review of Economic Policy, Vol. 20, No. 3, pp. 424-439.
12. Lin P., Liu Z., Zhang Y. (2009). Do Chinese domestic firms benefit from FDI inflow? Evidence of horizontal and vertical spillovers. China Economic Review, Vol. 20, No. 4, pp. 677-691.
13. Mitze T. (2014). Measuring regional spillovers in long- and short-run models of total factor productivity, trade, and FDI. International Regional Science Review, Vol. 37, No. 3, pp. 365-388.
14. Stančík J. (2007). Horizontal and vertical FDI spillovers: Recent evidence from the Czech Republic. CERGEEI Working Paper, No. 340.
15. Sugimoto K., Matsuki T., Yoshida Yu. (2013). The global financial crisis: An analysis of the spillover effects on African stock markets. MPRA Paper, No. 50473.
Review
For citations:
Fedorova E., Fedotova M., Nikolaev A. Assessing the impact of sanctions on russian companies performance. Voprosy Ekonomiki. 2016;(3):34-45. (In Russ.) https://doi.org/10.32609/0042-8736-2016-3-34-45
Views:
1500
Email this article 
