Besedeš, Tibor ; Goldbach, Stefan ; Nitsch, Volker (2023)
Smart or Smash? The Effect of Financial Sanctions on Trade in Goods and Services.
doi: 10.26083/tuprints-00024478
Report, Erstveröffentlichung, Verlagsversion
Kurzbeschreibung (Abstract)
We examine the extent to which financial sanctions imposed by Germany through its European Union and United Nations commitments cause collateral damage on Germany’s trade in goods and services. Financial sanctions reduce Germany’s inflows and outflows of financial assets, as well as imports and exports of goods and services. The relative effects on trade in goods and services are weaker than on financial assets, about half as large in the case of goods and two-thirds as large in the case of services. The effect on trade in goods is entirely due to episodes where financial sanctions are accompanied by export restrictions of specific goods. In the case of services trade, only exports are affected by financial sanctions once export restrictions are considered. The primary channel through which sanctions affect the three types of cross-border flows is the extensive margin. Anticipation effects are quite strong for financial assets and weak for services and goods.
| Typ des Eintrags: | Report |
|---|---|
| Erschienen: | 2023 |
| Autor(en): | Besedeš, Tibor ; Goldbach, Stefan ; Nitsch, Volker |
| Art des Eintrags: | Erstveröffentlichung |
| Titel: | Smart or Smash? The Effect of Financial Sanctions on Trade in Goods and Services |
| Sprache: | Englisch |
| Publikationsjahr: | 27 September 2023 |
| Ort: | Darmstadt |
| (Heft-)Nummer: | 244 |
| Reihe: | Darmstadt Discussion Papers in Economics |
| Kollation: | 40 Seiten |
| DOI: | 10.26083/tuprints-00024478 |
| URL / URN: | https://tuprints.ulb.tu-darmstadt.de/24478 |
| Kurzbeschreibung (Abstract): | We examine the extent to which financial sanctions imposed by Germany through its European Union and United Nations commitments cause collateral damage on Germany’s trade in goods and services. Financial sanctions reduce Germany’s inflows and outflows of financial assets, as well as imports and exports of goods and services. The relative effects on trade in goods and services are weaker than on financial assets, about half as large in the case of goods and two-thirds as large in the case of services. The effect on trade in goods is entirely due to episodes where financial sanctions are accompanied by export restrictions of specific goods. In the case of services trade, only exports are affected by financial sanctions once export restrictions are considered. The primary channel through which sanctions affect the three types of cross-border flows is the extensive margin. Anticipation effects are quite strong for financial assets and weak for services and goods. |
| Status: | Verlagsversion |
| URN: | urn:nbn:de:tuda-tuprints-244789 |
| Sachgruppe der Dewey Dezimalklassifikatin (DDC): | 300 Sozialwissenschaften > 330 Wirtschaft |
| Fachbereich(e)/-gebiet(e): | 01 Fachbereich Rechts- und Wirtschaftswissenschaften 01 Fachbereich Rechts- und Wirtschaftswissenschaften > Volkswirtschaftliche Fachgebiete 01 Fachbereich Rechts- und Wirtschaftswissenschaften > Volkswirtschaftliche Fachgebiete > Fachgebiet Internationale Wirtschaft |
| Hinterlegungsdatum: | 27 Sep 2023 12:09 |
| Letzte Änderung: | 28 Sep 2023 17:19 |
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