Drott, Constantin ; Goldbach, Stefan ; Nitsch, Volker (2024)
The Effects of Sanctions on Russian Banks in TARGET2 Transactions Data.
doi: 10.26083/tuprints-00026541
Report, Erstveröffentlichung, Verlagsversion
Kurzbeschreibung (Abstract)
This paper examines the effect of financial sanctions at the most disaggregated level possible, individual bank accounts. Using data from the Eurosystem’s real-time gross settlement system TARGET2, we provide empirical evidence that sanctions imposed by the European Union on Russian banks following Russia’s aggression against Ukraine in 2014 and 2022 have sizably reduced financial transactions with sanctioned Russian bank accounts, both along the extensive and intensive margins. Among the various sanction measures taken, exclusion from SWIFT, a global provider of secure financial messaging services, turns out to have the largest effects.
| Typ des Eintrags: | Report |
|---|---|
| Erschienen: | 2024 |
| Autor(en): | Drott, Constantin ; Goldbach, Stefan ; Nitsch, Volker |
| Art des Eintrags: | Erstveröffentlichung |
| Titel: | The Effects of Sanctions on Russian Banks in TARGET2 Transactions Data |
| Sprache: | Englisch |
| Publikationsjahr: | 18 Januar 2024 |
| Ort: | Darmstadt |
| (Heft-)Nummer: | 245 |
| Reihe: | Darmstadt Discussion Papers in Economics |
| Kollation: | 29 Seiten |
| DOI: | 10.26083/tuprints-00026541 |
| URL / URN: | https://tuprints.ulb.tu-darmstadt.de/26541 |
| Kurzbeschreibung (Abstract): | This paper examines the effect of financial sanctions at the most disaggregated level possible, individual bank accounts. Using data from the Eurosystem’s real-time gross settlement system TARGET2, we provide empirical evidence that sanctions imposed by the European Union on Russian banks following Russia’s aggression against Ukraine in 2014 and 2022 have sizably reduced financial transactions with sanctioned Russian bank accounts, both along the extensive and intensive margins. Among the various sanction measures taken, exclusion from SWIFT, a global provider of secure financial messaging services, turns out to have the largest effects. |
| Freie Schlagworte: | financial flows, transactions, restrictions |
| Status: | Verlagsversion |
| URN: | urn:nbn:de:tuda-tuprints-265412 |
| 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: | 18 Jan 2024 13:09 |
| Letzte Änderung: | 22 Jan 2024 10:58 |
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