Drott, Constantin ; Goldbach, Stefan ; Nitsch, Volker (2024)
The effects of sanctions on Russian banks in TARGET2 transactions data.
In: Journal of Economic Behavior & Organization, 219
doi: 10.1016/j.jebo.2023.12.030
Artikel, Bibliographie
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: | Artikel |
|---|---|
| Erschienen: | 2024 |
| Autor(en): | Drott, Constantin ; Goldbach, Stefan ; Nitsch, Volker |
| Art des Eintrags: | Bibliographie |
| Titel: | The effects of sanctions on Russian banks in TARGET2 transactions data |
| Sprache: | Englisch |
| Publikationsjahr: | März 2024 |
| Verlag: | Elsevier |
| Titel der Zeitschrift, Zeitung oder Schriftenreihe: | Journal of Economic Behavior & Organization |
| Jahrgang/Volume einer Zeitschrift: | 219 |
| DOI: | 10.1016/j.jebo.2023.12.030 |
| 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. |
| 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: | 29 Jan 2024 11:46 |
| Letzte Änderung: | 29 Jan 2024 11:46 |
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