Arbeitspapier

Who Is to Suffer? Quantifying the Impact of Sanctions on German Firms

In this paper, we use a novel firm level dataset for Germany to investigate the effect of sanctions on export behaviour and performance of German firms. More specifically, we study the sanctions imposed by the EU against Russia in 2014 in response to the annexation of Crimea and Russia's countermeasures. We find a substantial negative effect on both the extensive and intensive margin of German exports. While the negative effects are strongest for firms exporting products subject to trade restrictions, we provide further evidence on the indirect effects of sanctions. Analysing the impact on broader measures of firm performance, we document that the cost of sanctions is heterogeneous across firms but overall modest. Our results reveal that the negative impact of the shock was concentrated primarily among a small number of firms that were highly dependent on Russia as an export market and those directly affected by the sanctions.

Sprache
Englisch

Erschienen in
Series: IZA Discussion Papers ; No. 16146

Klassifikation
Wirtschaft
Empirical Studies of Trade
International Conflicts; Negotiations; Sanctions
Firm Performance: Size, Diversification, and Scope
Thema
sanctions
foreign policy
trade
firm behaviour
Germany

Ereignis
Geistige Schöpfung
(wer)
Görg, Holger
Jacobs, Anna
Meuchelböck, Saskia
Ereignis
Veröffentlichung
(wer)
Institute of Labor Economics (IZA)
(wo)
Bonn
(wann)
2023

Handle
Letzte Aktualisierung
10.03.2025, 11:41 MEZ

Datenpartner

Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.

Objekttyp

  • Arbeitspapier

Beteiligte

  • Görg, Holger
  • Jacobs, Anna
  • Meuchelböck, Saskia
  • Institute of Labor Economics (IZA)

Entstanden

  • 2023

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