El próximo seminario de investigación del Departamento de Economía tendrá lugar el martes 25 de marzo a las 14h. La información del seminario y del ponente es la siguiente:  

Título de la presentación: Reducing trade with Russia: Sanctions vs. firms’ voluntary suspension of activities

Autores: Francisco Requena (Universitat de València), Juan de Lucio (Universidad de Alcalá), Raúl Mínguez (Cámara de Comercio de España y Universidad Antonio de Nebrija) y Asier Mirondo (Deusto Business School)

Lugar: Aula 2.7, a las 14h.

Resumen:

The invasion of Ukraine in February 2022 led to unprecedented and large sanctions against Russia. Parallel to this process, many multinational firms voluntarily decided to suspend their activities in Russia. Using Spanish firm-level data, this paper quantifies the impact of trade sanctions and the voluntary decision of firms to suspend activities on exports and imports with Russia. We find that the voluntary

decision of firms to suspend activities in Russia contributed to the reduction in exports and imports by 19% and 23%, respectively, while sanctions contributed by 11% and 32%, respectively. The results show that the combination of sanctions and the voluntary decision of firms to suspend activities caused a much greater reduction in trade with Russia than what sanctions alone would have achieved.