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From Russia with Love: International Risk-sharing, Sanctions, and Firm Investments

Author

Listed:
  • Kiet Duong

    (University of York.)

  • Toan Huynh

    (Queen Mary University of London)

  • Anh Phan

    (University of Liverpool)

  • Nam Vu

    (Miami University)

Abstract

We propose a novel explanation for why sanctions on Russian firms might not work as intended: these firms' ability to diversify sanction risks via partner countries friendly with Russia. Using indirect links with partner firms as a plausibly exogenous proxy for this risk-sharing channel, we show that exposed Russian firms were able to leverage these links to alleviate the negative impacts of sanctions in 2014.

Suggested Citation

  • Kiet Duong & Toan Huynh & Anh Phan & Nam Vu, 2024. "From Russia with Love: International Risk-sharing, Sanctions, and Firm Investments," Working Papers 119, Queen Mary, University of London, School of Business and Management, Centre for Globalisation Research.
    • Handle: RePEc:cgs:wpaper:119
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    File URL: http://cgr.sbm.qmul.ac.uk/CGRWP119.pdf
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    More about this item

    Keywords

    International risk-sharing; sanction; Russia; firm-level;
    All these keywords.

    JEL classification:

    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
    • F42 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Policy Coordination and Transmission
    • F51 - International Economics - - International Relations, National Security, and International Political Economy - - - International Conflicts; Negotiations; Sanctions

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