The Impact of Sanction on Czech Economic Relations with Russia

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14560%2F17%3A00097604" target="_blank" >RIV/00216224:14560/17:00097604 - isvavai.cz</a>

Result on the web

<a href="http://www.esd-conference.com/past-conferences" target="_blank" >http://www.esd-conference.com/past-conferences</a>

DOI - Digital Object Identifier

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Result language

angličtina

Original language name

The Impact of Sanction on Czech Economic Relations with Russia

Original language description

As a member of the European Union, the Czech Republic was one of the countries that introduced sanctions on Russia. These were supposed to affect the economic relations between both economies. We generally recognize three channels by which the sanctions can affect the Czech economy – a decline in exports and outflow of FDI to Russia, a drop in the inflow of investment from Russia and a decrease in number of Russian tourists in the country. It was often argued that the Czech economy depends on exports to Russia, especially exports of mechanical engineering products, which at least partially balanced huge imports of Russian oil and gas. At the same time, there has been supposedly strong inflow of Russian foreign direct investment into the Czech economy, even though the Russian official FDI inflows are declared as negligible. In addition, the Czech Republic has also benefited on a long-term basis from the influx of Russian tourists. Recent political events as well as the decline of the Russian economy may have led to disruption of such economic relations between both countries. For this reason, we aim to provide a complex analysis of the dependence of the Czech economy on the Russian one and the impact of sanctions on mutual relationship. Our analysis will be primarily descriptive, due to nearly total absence of credible data about real Russian investment in the Czech Republic. We found that there was a possible small direct impact of the sanctions on specific Czech exports. Otherwise the impact is highly questionable.

Czech name

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Czech description

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Type

D - Article in proceedings

CEP classification

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OECD FORD branch

50200 - Economics and Business

Project

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Continuities

O - Projekt operacniho programu

Publication year

2017

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection

Economic and Social Development: 23rd International Scientific Conference on Economic and Social Development

ISBN

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ISSN

1849-7535

e-ISSN

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Number of pages

13

Pages from-to

208-220

Publisher name

Varazdin Development and Entrepreneurship Agency

Place of publication

Madrid

Event location

Madrid

Event date

Jan 1, 2017

Type of event by nationality

CST - Celostátní akce

UT code for WoS article

000427987300022