The Impact of Sanction on Czech Economic Relations with Russia

Kód výsledku v 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>

Výsledek na webu

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DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

The Impact of Sanction on Czech Economic Relations with Russia

Popis výsledku v původním jazyce

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.

Název v anglickém jazyce

The Impact of Sanction on Czech Economic Relations with Russia

Popis výsledku anglicky

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.

Druh

D - Stať ve sborníku

CEP obor

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OECD FORD obor

50200 - Economics and Business

Projekt

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Návaznosti

O - Projekt operacniho programu

Rok uplatnění

2017

Kód důvěrnosti údajů

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

Název statě ve sborníku

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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Počet stran výsledku

13

Strana od-do

208-220

Název nakladatele

Varazdin Development and Entrepreneurship Agency

Místo vydání

Madrid

Místo konání akce

Madrid

Datum konání akce

1. 1. 2017

Typ akce podle státní příslušnosti

CST - Celostátní akce

Kód UT WoS článku

000427987300022