Russian food embargo and the lost trade

Abstract We analyse the impact of the Russian food embargo on European and Russian trade patterns using a triple-difference estimation strategy. We quantify the embargo-induced loss in EU28 exports at €125 million per month. Only 45 per cent of the drop in EU exports of banned products to Russia was...

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Bibliographic Details
Published in:European review of agricultural economics 2020-04, Vol.47 (2), p.684-718
Main Authors: Cheptea, Angela, Gaigné, Carl
Format: Article
Language:English
Subjects:
Economics and Finance
Embargoes & blockades
Exports
Food
Humanities and Social Sciences
Impact analysis
Welfare
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Summary:Abstract We analyse the impact of the Russian food embargo on European and Russian trade patterns using a triple-difference estimation strategy. We quantify the embargo-induced loss in EU28 exports at €125 million per month. Only 45 per cent of the drop in EU exports of banned products to Russia was due to the ban. EU member states were unevenly affected by the ban. The estimated losses of welfare in Russia range from 0.2 to 0.6 per cent (In absolute terms, this represents €18 to €58 of the 2013 revenue of the average Russian consumer.).
ISSN:0165-1587
1464-3618
DOI:10.1093/erae/jbz032