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Heli Simola (BOFIT) - International Portfolio Investments and Sanctions: Evidence from Russia
BOFIT Seminar - Heli Simola (BOFIT) - International Portfolio Investments and Sanctions: Evidence from Russia
Co-author: Iikka Korhonen (BOFIT)
Abstract
We examine the impact of sanctions imposed on Russia on foreign portfolio investment to Russia. We apply triple difference set-up and use annual portfolio investment data collected by the IMF. Our results show that portfolio investment to Russia has sharply declined both from sanctioning and non-sanctioning countries after 2022. The decline in investment from sanctioning countries is, however, much larger. Unlike in trade, we find little evidence of investment diversion for Russia after imposition of sanctions.
Co-author: Iikka Korhonen (BOFIT)
Abstract
We examine the impact of sanctions imposed on Russia on foreign portfolio investment to Russia. We apply triple difference set-up and use annual portfolio investment data collected by the IMF. Our results show that portfolio investment to Russia has sharply declined both from sanctioning and non-sanctioning countries after 2022. The decline in investment from sanctioning countries is, however, much larger. Unlike in trade, we find little evidence of investment diversion for Russia after imposition of sanctions.
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