Assessing the impact of sanctions on russian companies performance

2016 ◽  
pp. 34-45 ◽  
Author(s):  
E. Fedorova ◽  
M. Fedotova ◽  
A. Nikolaev
Keyword(s):  
Foreign Trade ◽  
Spillover Effects ◽  
Trade Relations ◽  
Processing Chain ◽  
Import And Export ◽  
German Investment ◽  
The Impact ◽  
Domestic Companies

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.

Wohin Rubel und Euro fließen

2018 ◽  
Vol 59 (4) ◽  
pp. 22-28
Author(s):  
Björn P. Jacobsen ◽  
Nelly Kozlova
Keyword(s):  
Direct Investment ◽  
Home Country ◽  
Investment Behavior ◽  
Investment Activity ◽  
Trade Relations ◽  
Doing Business ◽  
Import And Export ◽  
The Russian Federation ◽  
German Investment

Abstract Es gibt sie – langfristige russische Direktinvestitionen in Deutschland, wie die von Ilim Timber. Ursprünglich wollte das St. Petersburger Forstprodukteunternehmen nur deutsche Maschinen für eine neue Produktionsstätte in Russland kaufen und entschied sich dann dazu, zwei komplette Sägewerke in Wismar und Landsberg zu übernehmen (Tepavcevic, 2013) – oder die des Investors und Vorsitzenden der Sankt Petersburger Kirov-Werke Georgi Semenenko in Rostock (Mangler, 2017). Sie dienen nicht – wie oftmals bei russischen Investitionen in Deutschland unterstellt – der Kapital- oder Systemflucht, sondern werden aus strategischen Überlegungen heraus präzise geplant und erweisen sich als ökonomisch nachhaltig. Und umgekehrt gibt es auch die deutschen Erfolgsgeschichten in Russland, wie die von Pobeda Knauf, von Siemens Gas Turbine Technologies – einem Gemeinschaftsunternehmen der Siemens AG und der russischen Power Machines zur Produktion von Gasturbinen –, der Robert Bosch GmbH, von Mustang Neva im Bereich der Textilherstellung oder der Beteiligung von Henkel an der ERA AG in Tosno, die Wasch-, Reinigungs- und Scheuermittel sowie Kosmetika herstellt. Aber das wirtschaftspolitische Umfeld wird rauer. Ein Indikator dafür sind neben den kurzfristig reagierenden Import- und Exportzahlen vor allem die auf Langfristigkeit und Verlässlichkeit fußenden Investitionen russischer Unternehmen in Deutschland sowie deutscher Unternehmen in Russland. Der „Russian Investment Monitor“ der Hochschule Stralsund sowie der „German Investment Monitor“ der Polytechnischen Hochschule „Peter der Große“ in Sankt Petersburg ermöglichen eine fundierte Analyse und dienen als zuverlässiges Barometer der deutsch-russischen Wirtschaftsbeziehungen. When analyzing the long-term trade relations between two countries, import and export data are of limited help. Here the direct investment behavior is a much better indicator. However, direct investment figures entirely based on the stocks of investment are open to interpretation and might be even misleading. This is where the “Russian Investment Monitor” in Germany and the “German Investment Monitor” in Russia is of help. Analyzing investment behavior on the company level reveals the trust investors assign to their home country and the host country. Russian investments in Germany seem to be declining with China taking over the lead. Moreover, the Russian investments in Germany seem to a large part be motivated by capital flight rather than by traditional investment motives. However, exceptions to the rule exist. On the other hand, German investments in the Russian Federation seem to be more strategic and economically sustainable although the challenging political environment has reduced the German investment activity in Russia and opened the door to increasing Chinese direct investments. In summary, the German-Russian investment relations seem to be at the crossroads. Keywords: quot doing business ranking quot, investitionsverhalten, investitionstätigkeit, effizienzerhöhung, direktinvestitionen

scholarly journals British-Slovak Foreign Trade Relations: Consequences of Brexit

2019 ◽  
pp. 341-353
Author(s):  
Marcel Kordos
Keyword(s):  
European Union ◽  
Foreign Trade ◽  
Policy Instruments ◽  
Current Status ◽  
The European Union ◽  
Economic Relations ◽  
Trade Relations ◽  
The Future ◽  
The Uk ◽  
The Impact

The possibility of the UK's withdrawal from the European Union has never been more realistic and up-to-date since joining the European Communities (EC) as it is today. The UK is facing a unique situation. At present, this depends solely on the capabilities of European and British government officials, who negotiate the terms of withdrawal and future cooperation between the two entities. The main goal of this paper is based on the British – Slovak trade relations development analysis to figure out their impact within the Brexit consequences on the future Slovak economy and its current status in international economic relations. The paper also provides a basic overview of Brexit process and its possible impact on the EU's further functioning. Basic data will be drawn from generally accepted institutions, evaluating the UK and Slovak trade and economic performance. To accomplish this goal, methods such as analysis and comparison to illustrate the UK-Slovak foreign trade development, synthesis and logical deduction to discuss the Brexit impact on Slovak economic environment in the future are to be used; data from scientific and professional publications, periodical and non-periodical press. The paper presents the results of an empirical analysis, which showed that because of the size of economic relations between Slovakia and the United Kingdom and the number of goods and services being exported to the UK, the «hard» Brexit will be very unfavourable for Slovak foreign trade due to the possible tariffs being imposed. The research empirically confirms and theoretically proves that it can cause a significant weakening and slowdown in the Slovak economy. Either way, the upcoming Brexit process, that is the withdrawal of Great Britain from the European Union, would have a major impact not only on British, European but also on the world economy. The impact of Brexit on Slovakia's economy will not only be in reducing the possible growth of the economy, but also in employment and price increases. Keywords: EU single market, Britain's withdrawal from the EU, foreign trade policy instruments analysis, international economics, Slovak economy slowdown prediction, Slovak foreign trade commodity structure analysis.

scholarly journals THE RESEARCH ON INTERFACE BETWEEN LITHUANIAN DIRECT INVESTMENT ABROAD AND FOREIGN TRADE FLOWS

2016 ◽  
Vol 14 (1) ◽  
pp. 136-151
Author(s):  
Anžela KOZLOVA ◽  
Algita MIEČINSKIENĖ
Keyword(s):  
Foreign Trade ◽  
Direct Investment ◽  
Developed Countries ◽  
Trade Flows ◽  
General Development ◽  
Causality Test ◽  
Import And Export ◽  
The Developed Countries ◽  
The Impact ◽  
Research Analysis

The scientific research results related to foreign trade and direct investment abroad (DIA) are discussed in the article. The relation of the direct investment abroad and foreign trade is still under the discussion as there is no clear answer whether foreign trade is supplemented or replaced by the direct investment abroad. Since 1997 the flows of the direct investment abroad increased greately in Lithuania. Consequently, it is important to define the link between the DIA and foreign trade considering each country separately. Direct investment abroad and trade links in Lithuania in 1997–2014 are analyzed in the article. The research analysis involves Lithuanian direct investments in the developed countries except some countries, such as Belorus, Russia and Ukraine. It is defined that there is a positive bilateral link between Lithuanian direct investment abroad and foreign trade. It is also observed the impact of general development of Lithuanian direct investment abroad (considering certain countries) on the countries economy itself – imports can exceed exports. Engle-Granger causality test is applied in the research paper for the purpose of defining the impact of the DIA on the import and export range.

scholarly journals Analysis of the impact of tariff preferences on the foreign trade of the Russian Federation and the Republic of Serbia

Upravlenie ◽  
2020 ◽  
Vol 8 (4) ◽  
pp. 42-50
Author(s):  
D. E. Barsegyan
Keyword(s):  
European Union ◽  
Foreign Trade ◽  
Free Trade ◽  
Russian Federation ◽  
Statistical Data ◽  
The European Union ◽  
Trade Relations ◽  
The Russian Federation ◽  
The Republic ◽  
The Impact

The article considers the dynamics and structure of foreign trade of the Russian Federation and the Republic of Serbia, as well as the impact of tariff preferences on foreign trade between two countries. The analysed measures were: dynamics of the Russian Federation’s exports to the Republic of Serbia, dynamics of the Russian Federation’s imports from the Republic of Serbia, tariff preferences applied between countries. The article provides statistical data on the dynamics and structure of foreign trade of the Russian Federation and the Republic of Serbia for 2010–2019 and their dependence on the application of tariff preferences, as well as indicators of trade between the EAEU and the EAEU member states with the Republic of Serbia for 2017–2019. The paper analyses the possible directions of Serbia’s participation in the EAEU and the European Union, assesses the benefits of creating a free trade zone between the EAEU and Serbia, as well as the costs of Serbia’s integration into the European Union. The importance of tariff preferences in the development of foreign trade relations between Russia and Serbia is shown.

scholarly journals Trade العلاقات التجارية للدولة الصفوية مع الدول الخارجية

2018 ◽  
Vol 6 (3) ◽  
pp. 696
Author(s):  
دارا تؤفيق كاكةامين
Keyword(s):  
Foreign Trade ◽  
The State ◽  
External Trade ◽  
Economic Activities ◽  
Trade Routes ◽  
Trade Relations ◽  
The Third ◽  
Foreign Countries ◽  
National Economic ◽  
Import And Export

Trade relations of the Safavid state with foreign countries Trade is one of the most important economic activities, where the consumer gets to life through a point of communication between the producer and the consumer. Trade is divided into internal and external trade, where the internal trader's responsibility is to deliver and provide products and services within the geographical boundaries of the state. Foreign trade is the process of exchanging national economic products outside the country's geographical borders, as well as the transfer of ownership of products and resources to one another through the import and export process. Therefore, trade is the important areas of life, which have become important factors that affected the economy (Iran) in a record period in the Safavid era, which led to the expansion and development of trade relations with neighboring countries abroad, and in order to recognize the importance of this aspect, this research Shows the importance of trade and its impact on political treaties of that era. This research is divided into an introduction with three main sections, the first deals with domestic and foreign trade, while the second section highlights the attention on trade routes, either the third and last section was for the purpose of studying the commercial relations of Safavid with other Nations, which include the (Ottoman, The Portuguese, British, Dutch, French, and Russians).

scholarly journals A GRAVITY MODEL OF TRADE TURNOVER BETWEEN UKRAINE AND THE EU

2018 ◽  
Vol 4 (4) ◽  
pp. 217-222
Author(s):  
Tetyana Melnyk ◽  
Nataliya Kalyuzhna ◽  
Kateryna Pugachevska
Keyword(s):  
Foreign Trade ◽  
Gravity Model ◽  
Purchasing Power Parity ◽  
Statistical Significance ◽  
Economic Cooperation ◽  
Institutional Factors ◽  
Trade Relations ◽  
Trade Turnover ◽  
The Impact ◽  
The Eu

Determining the conditions for further liberalization and the reality of long-term and effective trade and economic cooperation of Ukraine with the EU countries requires assessing the strength and probability of the influence of institutional factors. The possibility of taking into account the significance of institutional factors in the development of foreign trade relations creates a gravity modelling. Determination of gravitational principles of foreign trade actualizes the problem of developing the gravity model, which takes into account impact of institutional factors, contains the necessary and sufficient number of factors, and may be tested for adequacy based on statistical data. The purpose of the paper is to construct the gravity model taking into account the institutional conditions of trade and its empirical verification on the example of trade turnover between Ukraine and the EU. Methodology. Methods of statistical analysis and econometric modelling were used for constructing the gravity model, estimating its statistical significance and predictive ability. In the article, the necessity of taking into account the influence of institutional factors on the formation of the competitive status of the country in the sphere of international trade is substantiated. It is proved that, in conditions of increasing the contradictory nature of trade relations, the role of institutional gravity factors in foreign trade between states increases. The result of the article is the gravity model with such explanatory factors, as the gross domestic product of trade partners in purchasing power parity and the complex characteristic of “trade distance” between countries as an indicator of the influence of institutional factors on foreign trade relations. As a conclusion, it may be noted that the model is statistically significant, adequately describes the input data. The proposed model takes into account the presence of institutional factors of foreign trade, whose influence on the interstate trade and economic cooperation conditions is constantly increasing. Value/originality. The proposed results can be used for modelling and forecasting of foreign trade between trading partners, taking into account the impact of specific institutional factors on their foreign trade relations.

scholarly journals Vietnam Economy under the Impact of COVID-19

2021 ◽  
Vol 5 (4) ◽  
pp. 45-70
Author(s):  
Binh Hai Le ◽  
Lam Thanh Ha
Keyword(s):  
Gross Domestic Product ◽  
Foreign Trade ◽  
Unemployment Rate ◽  
Trade Openness ◽  
Domestic Product ◽  
Gdp Growth ◽  
Trade Relations ◽  
Global Pandemic ◽  
High Degree ◽  
The Impact

The COVID-19 pandemic has already produced considerable changes in all aspects of an economy. Being an economy with a high degree of trade openness, Vietnam has maintained extensive trade relations with many partners. In the context of a global pandemic, Vietnams economy has been severely affected. Therefore, this article focuses on analyzing the impact of the COVID-19 outbreak on the aspects such as gross domestic product (GDP) growth, foreign trade, tourism, unemployment rate, and enterprises operation, and raising some prospects of Vietnams economy.

scholarly journals The Coronavirus Will Not Change the long-Term Upward Trend of China’s Economic Development

2020 ◽  
Vol 24 (5) ◽  
pp. 15-23
Author(s):  
X. Zhang
Keyword(s):  
Economic Development ◽  
Foreign Trade ◽  
Driving Forces ◽  
Developed Countries ◽  
Asia Pacific ◽  
Live Streaming ◽  
Chinese Government ◽  
Trade Relations ◽  
Online Sales ◽  
The Impact

The author investigates the impact of COVID‑19 and macro-policy adjustment on China’s economic development. The aim is to describe the situation and trend of China’s economic development before and after COVID‑19. The research method is the comparative data analysis. The study shows that in response to COVID‑19, the Chinese government, on the one hand, has accelerated its opening-up, taken the opportunity of fighting against the pandemic to provide medical assistance to and cooperate with other countries, and actively promoted the building of a community with a shared future for mankind and the process of globalization. On the basis of the Belt and Road Initiative and multilateral, regional, and subregional cooperation mechanisms such as the United Nations, Shanghai Cooperation Organization, BRICS (Brazil, Russia, India, China, South Africa), G20 (Group of 20), and APEC (Asia-Pacific Economic Cooperation), China and the Eurasian Economic Union began to cooperate more frequently and the trade relations between Japan, South Korea, and European developed countries became closer. Meanwhile, committed to building a global interconnection partnership, China actively participates in global economic governance and provides various public products. The Chinese government has proposed “Six Guarantees” on the basis of “Six Stability”. In order to achieve the purpose of stabilizing foreign trade and expanding imports, China has imposed various measures to accelerate the liberalization and facilitation of international trade and investment, such as implementing the new version of the “Foreign Investment Law”, establishing free trade zones, and promoting its experience and organizing international import expositions. Additionally, the Chinese government also implemented targeted fiscal and monetary policies, increased support for enterprises, especially small and medium-sized enterprises, and promoted the construction of “new infrastructure” and innovation of business model, which have formed the driving forces for the transformation of the economic development model in China from traditional business to cloud business, from traditional marketing to live streaming marketing, from traditional sales to online sales. The author concluded thatChina’s adjustment of macro policies in response to COVID‑19 was effective and played an important role in the resumption of production and life, stabilizing foreign trade activities, releasing domestic demand and promoting stable and sustained growth of the economy

scholarly journals Evaluation of the Sanctions Impact on Sanctioning Countries’ Trade with Russia

2019 ◽  
Vol 23 (3) ◽  
pp. 6-15 ◽  
Author(s):  
S. V. Kazantsev
Keyword(s):  
Foreign Trade ◽  
Russian Federation ◽  
Negative Impact ◽  
The United States ◽  
Mathematical Tool ◽  
External Trade ◽  
Trade Relations ◽  
The World ◽  
The Russian Federation ◽  
The Impact

The aim of this paper was to present some results of the study of the impact of the sanctions, imposed on the Russian Federation in 2014 and consistently expanded and deepened, not on Russia, but on those who use these sanctions — the countries that imposed the sanctions (the sanctioners). External trade, that is one of the objects of the sanctions, was chosen as the subject of the study. The author’s task was to estimate the role of the Russian Federation in the external trade of the countries, which use the sanctions against Russia, before and after the sanctions, and to evaluate the harm caused to these countries by their sanctions and by Russia’s counter-sanctions. To solve these problems, the author proposed a mathematical tool for the damage quantitative assessment. The World Trade Organization statistics for 2012–2017 formed a database for the study, and economic-mathematical and statistical methods were taken as research instruments. One may summarize the results of the study as follows. First, Russia plays an insignificant role in foreign trade of most countries that imposed sanctions against the Russian Federation. However, the damage from the sanctions and counter-sanctions for some of them turns out to be quite significant. Second, the negative impact of the sanctions on their initiators in the sphere of external trade is the stronger, the more important for the sanctioning country its trade relations with the Russian Federation are. Third, the burden of the sanctions was less heavy for their main initiator — the united States of America, than for their less economically strong partners that imposed the sanctions. The author’s main conclusion is that eventually the economic interests of some of these countries win up over the political goals that go against these interests, and the volume of the foreign trade, that dropped down after the sanctions were imposed on Russia, tends to recover. Russia, shifting from the overseas markets to the domestic one and changing the geographical structure of its international trade, does continue to develop. To present the results of the study to the Russian readers, the version of the article in Russian is submitted to the journal “The World of New Economy”. Its title is “Anti-Russian Sanctions: Damage to the Countries that Declared them”. The version gives the results of the analysis of the impact of sanctions on technology trade and the content of the study of foreign trade in goods, detailed in this paper.

Evaluation of the effectiveness of foreign direct investment impact on the activities of domestic companies during the sanctions period: industry aspect

2020 ◽  
Vol 2020 (5) ◽  
pp. 158-181
Author(s):  
Elena Fedorova ◽  
Aleksey Nikolaev ◽  
Anna Rashchupkina ◽  
Fedor Fedorov
Keyword(s):  
Foreign Direct Investment ◽  
Direct Investment ◽  
Malmquist Index ◽  
Spillover Effects ◽  
Assessment Methodology ◽  
Chemical Production ◽  
Before And After ◽  
Dea Analysis ◽  
The Impact ◽  
Domestic Companies

The aim of the work is: 1. assessment of the impact of foreign direct investment (FDI) on the performance of domestic companies before and after the imposition of sanctions in the industry context; 2. Evaluation of the performance of export-oriented domestic companies during the period of sanctions. As the assessment methodology were used panel regression, calculation of the Malmquist index, DEA analysis, and calculation of spillover effects. The empirical base of the study included more than 65 thousand companies for 2012-2018. It was found that the highest efficiency of companies with FDI compared to companies without FDI was observed in the following sectors: metallurgical production, chemical production, retail. Export companies show higher rates than national enterprises.

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