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No milk for the bear: the impact on the Baltic states of Russia's counter-sanctions

Author

Listed:
  • Kaspar Oja

    (Economics and Research Department, Eesti Pank)

Abstract

The Russian government banned in August 2014 imports of different food and agricultural products from the European Union as a countermeasure to sanctions introduced by the EU and several other countries after Russia's actions in Ukraine and the annexation of Crimea. This paper assesses the effect of Russia's counter-sanctions on the economies of the Baltic states using different statistics sources and an international input–output model, while taking into account possible data problems in international trade data due to re-exports. The amount of trade affected by Russia's counter-sanctions varies across the Baltic states. In 2013, the exports of goods affected amounted to 2.6% of GDP in Lithuania, 0.4% of GDP in Estonia, and 0.3% of GDP in Latvia, but re-exports are included in these numbers. The overall impact of the sanctions on GDP once intra-EU supply chains are taken into account is below 0.5% of GDP in all the Baltic states.

Suggested Citation

  • Kaspar Oja, 2015. "No milk for the bear: the impact on the Baltic states of Russia's counter-sanctions," Baltic Journal of Economics, Baltic International Centre for Economic Policy Studies, vol. 15(1), pages 38-49.
    • Handle: RePEc:bic:journl:v:15:y:2015:i:1:p:38-49
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    File URL: http://www.tandfonline.com/doi/pdf/10.1080/1406099X.2015.1072385
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    Citations

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    Cited by:

    1. David Lektzian & Gor Mkrtchian, 2021. "The effect of sanctions on economic freedom," Social Science Quarterly, Southwestern Social Science Association, vol. 102(6), pages 2776-2794, November.
    2. Kholodilin, Konstantin A. & Netšunajev, Aleksei, 2019. "Crimea and punishment: the impact of sanctions on Russian economy and economies of the euro area," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 19(1), pages 39-51.
    3. Andrea Elteto & Katalin Antaloczy, 2016. "Post-crisis foreign trade trends and policies on the periphery of the European Union - comparison of the Iberian, Baltic and Central European region," IWE Working Papers 224, Institute for World Economics - Centre for Economic and Regional Studies.
    4. Hoon Lee & David Lektzian & Glen Biglaiser, 2023. "The Effects of Economic Sanctions on Foreign Asset Expropriation," Journal of Conflict Resolution, Peace Science Society (International), vol. 67(2-3), pages 266-296, February.
    5. Morad Bali, 2020. "Methodological Limitations of the Literature in the Study of Economic Sanctions, the Ukrainian Crisis Case," Post-Print hal-02472943, HAL.
    6. Angela Cheptea & Carl Gaigné, 2020. "Russian food embargo and the lost trade [Nonparametric counterfactual predictions in neoclassical models of international trade]," European Review of Agricultural Economics, Foundation for the European Review of Agricultural Economics, vol. 47(2), pages 684-718.
    7. Joakim Gullstrand, 2020. "What goes around comes around: The effects of sanctions on Swedish firms in the wake of the Ukraine crisis," The World Economy, Wiley Blackwell, vol. 43(9), pages 2315-2342, September.

    More about this item

    Keywords

    EU; Russia; sanctions; international trade; economic impact;
    All these keywords.

    JEL classification:

    • F47 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Forecasting and Simulation: Models and Applications
    • F51 - International Economics - - International Relations, National Security, and International Political Economy - - - International Conflicts; Negotiations; Sanctions
    • L66 - Industrial Organization - - Industry Studies: Manufacturing - - - Food; Beverages; Cosmetics; Tobacco
    • Q17 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agriculture in International Trade

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