No more Gouda in Moscow? Distributive effects of the imposition of sanctions

Michal Onderco; RA van der Veer

doi:10.1111/jcms.13185

No more Gouda in Moscow? Distributive effects of the imposition of sanctions

Michal Onderco^*, RA van der Veer

^*Corresponding author for this work

Public Administration

Research output: Contribution to journal › Article › Academic › peer-review

6 Citations (Scopus)

56 Downloads (Pure)

Abstract

How do private firms respond when they are hit by economic sanctions? Economic sanctions are a vitally important element of the European Union's foreign policy toolbox. While their importance and frequency of use increased, not much is known about the economic impact of the economic sanctions at the micro level. Yet the sanctions imposition has been recently politicized within the EU, especially in the reaction to the sanctions that EU imposed on Russia, and the counter - sanctions that ensued. Drawing on export data for all Dutch companies over the period 2013 –2016, we examine how Dutch companies responded to Russian counter -sanctions imposed on the EU after the annexation of Crimea. Our statistical matching approach suggests that while the companies exposed to the sanctions are more likely to go bankrupt compared to their unexposed counterparts, those who survive are able to weather the impact rather well in the medium -long term.

Original language	English
Pages (from-to)	1345-1363
Number of pages	19
Journal	Journal of Common Market Studies (JCMS)
Volume	59
Issue number	6
Early online date	22 Mar 2021
DOIs	https://doi.org/10.1111/jcms.13185
Publication status	Published - 22 Mar 2021

Bibliographical note

Funding Information:
The research for this publication was partly funded by the Open Data Infrastructure for Social Science and Economic Innovations (ODISSEI) in the Netherlands ( www.odissei‐data.nl ).

Funding Information:
The research for this publication was partly funded by the Open Data Infrastructure for Social Science and Economic Innovations (ODISSEI) in the Netherlands (www.odissei-data.nl). The authors’ names are listed in alphabetical order and reflect equal contributions to the paper. We thank the JCMS editor and two excellent reviewers for their suggestions which helped us make the paper much better. Peter van Bergeijk provided helpful feedback in the initial stages of the research. Masha Hedberg shared her data with us and made it easier to identify exact goods sanctioned by Russia. We are also thankful to Thomas Biersteker, Jarko Fidrmuc, Francesco Giumelli, Katharina Meißner, and Clara Portela, and Alexandros Tokhi for their advice and comments. All errors remain our own.

Publisher Copyright:
© 2021 The Authors. JCMS: Journal of Common Market Studies published by University Association for Contemporary European Studies and John Wiley & Sons Ltd.

Research programs

ESSB PA

Access to Document

10.1111/jcms.13185Licence: CC BY-NC-ND

No More Gouda in Moscow Distributive Effects of the Imposition of SanctionsFinal published version, 480 KBLicence: CC BY-NC-ND

https://onlinelibrary.wiley.com/doi/pdfdirect/10.1111/jcms.13185Licence: CC BY-NC-ND

Cite this

@article{cd318032ee4c48809ca5b42f4325cfce,

title = "No more Gouda in Moscow? Distributive effects of the imposition of sanctions",

abstract = "How do private firms respond when they are hit by economic sanctions? Economic sanctions are a vitally important element of the European Union's foreign policy toolbox. While their importance and frequency of use increased, not much is known about the economic impact of the economic sanctions at the micro level. Yet the sanctions imposition has been recently politicized within the EU, especially in the reaction to the sanctions that EU imposed on Russia, and the counter - sanctions that ensued. Drawing on export data for all Dutch companies over the period 2013 –2016, we examine how Dutch companies responded to Russian counter -sanctions imposed on the EU after the annexation of Crimea. Our statistical matching approach suggests that while the companies exposed to the sanctions are more likely to go bankrupt compared to their unexposed counterparts, those who survive are able to weather the impact rather well in the medium -long term.",

author = "Michal Onderco and {van der Veer}, RA",

note = "Funding Information: The research for this publication was partly funded by the Open Data Infrastructure for Social Science and Economic Innovations (ODISSEI) in the Netherlands ( www.odissei‐data.nl ). Funding Information: The research for this publication was partly funded by the Open Data Infrastructure for Social Science and Economic Innovations (ODISSEI) in the Netherlands (www.odissei-data.nl). The authors{\textquoteright} names are listed in alphabetical order and reflect equal contributions to the paper. We thank the JCMS editor and two excellent reviewers for their suggestions which helped us make the paper much better. Peter van Bergeijk provided helpful feedback in the initial stages of the research. Masha Hedberg shared her data with us and made it easier to identify exact goods sanctioned by Russia. We are also thankful to Thomas Biersteker, Jarko Fidrmuc, Francesco Giumelli, Katharina Mei{\ss}ner, and Clara Portela, and Alexandros Tokhi for their advice and comments. All errors remain our own. Publisher Copyright: {\textcopyright} 2021 The Authors. JCMS: Journal of Common Market Studies published by University Association for Contemporary European Studies and John Wiley & Sons Ltd.",

year = "2021",

month = mar,

day = "22",

doi = "10.1111/jcms.13185",

language = "English",

volume = "59",

pages = "1345--1363",

journal = "Journal of Common Market Studies (JCMS)",

issn = "0021-9886",

publisher = "Wiley-Blackwell Publishing Ltd",

number = "6",

}

TY - JOUR

T1 - No more Gouda in Moscow? Distributive effects of the imposition of sanctions

AU - Onderco, Michal

AU - van der Veer, RA

N1 - Funding Information: The research for this publication was partly funded by the Open Data Infrastructure for Social Science and Economic Innovations (ODISSEI) in the Netherlands ( www.odissei‐data.nl ). Funding Information: The research for this publication was partly funded by the Open Data Infrastructure for Social Science and Economic Innovations (ODISSEI) in the Netherlands (www.odissei-data.nl). The authors’ names are listed in alphabetical order and reflect equal contributions to the paper. We thank the JCMS editor and two excellent reviewers for their suggestions which helped us make the paper much better. Peter van Bergeijk provided helpful feedback in the initial stages of the research. Masha Hedberg shared her data with us and made it easier to identify exact goods sanctioned by Russia. We are also thankful to Thomas Biersteker, Jarko Fidrmuc, Francesco Giumelli, Katharina Meißner, and Clara Portela, and Alexandros Tokhi for their advice and comments. All errors remain our own. Publisher Copyright: © 2021 The Authors. JCMS: Journal of Common Market Studies published by University Association for Contemporary European Studies and John Wiley & Sons Ltd.

PY - 2021/3/22

Y1 - 2021/3/22

N2 - How do private firms respond when they are hit by economic sanctions? Economic sanctions are a vitally important element of the European Union's foreign policy toolbox. While their importance and frequency of use increased, not much is known about the economic impact of the economic sanctions at the micro level. Yet the sanctions imposition has been recently politicized within the EU, especially in the reaction to the sanctions that EU imposed on Russia, and the counter - sanctions that ensued. Drawing on export data for all Dutch companies over the period 2013 –2016, we examine how Dutch companies responded to Russian counter -sanctions imposed on the EU after the annexation of Crimea. Our statistical matching approach suggests that while the companies exposed to the sanctions are more likely to go bankrupt compared to their unexposed counterparts, those who survive are able to weather the impact rather well in the medium -long term.

AB - How do private firms respond when they are hit by economic sanctions? Economic sanctions are a vitally important element of the European Union's foreign policy toolbox. While their importance and frequency of use increased, not much is known about the economic impact of the economic sanctions at the micro level. Yet the sanctions imposition has been recently politicized within the EU, especially in the reaction to the sanctions that EU imposed on Russia, and the counter - sanctions that ensued. Drawing on export data for all Dutch companies over the period 2013 –2016, we examine how Dutch companies responded to Russian counter -sanctions imposed on the EU after the annexation of Crimea. Our statistical matching approach suggests that while the companies exposed to the sanctions are more likely to go bankrupt compared to their unexposed counterparts, those who survive are able to weather the impact rather well in the medium -long term.

UR - https://onlinelibrary.wiley.com/doi/10.1111/jcms.13185

UR - http://www.scopus.com/inward/record.url?scp=85102794266&partnerID=8YFLogxK

U2 - 10.1111/jcms.13185

DO - 10.1111/jcms.13185

M3 - Article

SN - 0021-9886

VL - 59

SP - 1345

EP - 1363

JO - Journal of Common Market Studies (JCMS)

JF - Journal of Common Market Studies (JCMS)

IS - 6

ER -

No more Gouda in Moscow? Distributive effects of the imposition of sanctions

Abstract

Bibliographical note

Research programs

Access to Document

Other files and links

Fingerprint

Cite this