Financial Sanctions: Consequencesfor Russia’s Economy and Economic Policy-Reference-Cited by-同舟云学术

Financial Sanctions: Consequencesfor Russia’s Economy and Economic Policy

Published:2014-12-20 Issue:12 Volume: Page:54-66
ISSN:0042-8736
Container-title:Voprosy Ekonomiki
language:
Short-container-title:Vopr. èkon.

Author:

Orlova N.¹

Affiliation:

1. Alfa Bank (Moscow, Russia)

Abstract

The article considers the impact of international sanctions on the landscape of the Russian banking sector as well as on the economic policy framework. The author concludes that the effect of sanctions on bank lending and funding markets has been asymmetric: in particular, the increase of deposit interest rates has been considerably more moderate, resulting from substantial weakening in the retail funding base since 2013 as well as from the support provided by the Bank of Russia. The key consequence is the strengthening of state banks, which could generate risks for the quality of economic growth.

Publisher

NP Voprosy Ekonomiki

Subject

Economics and Econometrics,Finance

Reference7 articles.

1. Orlova N., Dolgin D., Egiev S. (2013). Russian Growth Case: Time to Admit the Obvious. Moscow: Alfa Bank.

2. Orlova N., Dolgin D., Egiev S. (2014). Russian Economic Spotlight: State Funding: Activity without Achievement? Moscow: Alfa Bank.

3. Djankov S., La Porta R., Lopez-de-Silanes F., Shleifer A. (2002). The Regulation of Entry // Quarterly Journal of Economics. Vol. 117, No 1. P. 1-37.

4. IMF (2013). Russian Federation: 2013 Article IV Consultation // IMF Country Report. No 13/310.

5. Iossifov P., Podpiera J. (2014). Are Non-Euro Area EU Countries Importing Low Inflation from the Euro Area? // IMF Working Paper. No 14/191.

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