Browsing by Subject "trade"

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  • Simola, Heli (2016)
    BOFIT Policy Brief 6/2016
    The economic cooperation between Russia and China has increased notably during past couple of decades, although from a very low level. Despite the increase, economic dependency between countries remains relatively low and it is rather a one-sided dependency of Russia from China than a deeper inter-dependency. The economic relations have largely been characterized by traditional trade based on comparative advantage, whereas investment flows between countries have been relatively small. Since Russia’s relations with the western countries have deteriorated, it has aimed at closer ties with China. The high-level relations are probably better than ever, but in practice the development has been more modest. Economic cooperation between Russia and China is likely to continue increasing gradually, but there are many challenges for deepening the relations and raising mutual inter-dependency.
  • Korhonen, Iikka; Simola, Heli (2022)
    BOFIT Policy Brief 2/2022
    Published in Asian Economic Papers online
    In this note, we review recent data concerning Russia’s economic integration with other countries. We first analyze the general picture of Russia’s economic integration with the rest of the world and the importance of foreign economic relations for the country. We then turn to China, an increasingly significant economic partner for Russia. The European Union remains Russia’s most important trading partner and is by far the most important source of foreign direct investment to Russia as well as sources of other financing. China’s importance to Russia has also increased, especially with respect to merchandise trade.
  • Kaaresvirta, Juuso (2022)
    Bank of Finland Bulletin. Blog
    A month ago, during President Vladimir Putin’s visit to Beijing, China and Russia declared that the friendship between them has “no limits” and that there are “no forbidden areas of cooperation”. A few weeks later, Russia attacked Ukraine. A majority of countries around the world have condemned the illegal invasion. Perhaps as a demonstration of the “no limits” friendship, China has refused to condemn Russia and instead has even shown some understanding of its actions.
  • Korhonen, Iikka; Kortelainen, Mika (2022)
    Bank of Finland Bulletin. Analysis
    Russia’s invasion of Ukraine on February 24 has forced us to confront the catastrophic human implications of war, especially when any path to peace is still unclear. The situation also requires consideration of war’s economic effects. In the following, we assess possible economic impacts of the Ukraine invasion on Russia and the euro area.
  • Simola, Heli (2022)
    BOFIT Policy Brief 4/2022
    The EU, US and several other countries have responded with a wide range of new economic sanctions on Russia in response to the military attack on Ukraine. These sanctions include various restrictive measures on trade with Russia. In this brief, we examine the potential short-term effects of trade sanctions on Russian production with an input-output framework. We find that the trade sanctions can have substantial negative effects on Russian production when Russia is unable to find alternative markets for imports and exports. Keywords: Russia, trade, sanctions, input-output