An Estimation of The Impact of Economic Sanctions and Oil Price Shocks on Iran-Russian Trade: Evidence from a Gravity- VEC Approach | ||
| Iranian Economic Review | ||
| مقاله 2، دوره 21، شماره 3، 2017، صفحه 469-497 اصل مقاله (1013.63 K) | ||
| شناسه دیجیتال (DOI): 10.22059/ier.2017.62926 | ||
| نویسندگان | ||
| Ehsan Rasoulinezhad* ؛ Liudmila Popova | ||
| Department of World Economy, Faculty of Economics, Saint Petersburg State University, St. Petersburg, Russia | ||
| چکیده | ||
| Abstract This article is an empirical attempt to explore the relationship between sanctions (financial and non-financial), oil price shocks and Iran-Russian bilateral trade flows over the period 1991–2014. In contrast to earlier studies in which a gravity model has been estimated through a panel data approach, in this paper the authors apply a gravity model for only two countries and do the estimations using the vector error correction approach. The overall estimation results indicate that financial sanctions, non-financial sanctions and oil price shocks negatively impact the Iran-Russian trade. Furthermore, financial sanctions had the greatest negative impact on Iran-Russian trade rather than non-financial sanctions and sharp oil price shocks. | ||
| کلیدواژهها | ||
| Keywords: Iran-Russian Bilateral Trade؛ sanctions؛ Oil Price Shocks؛ Gravity Model؛ Vector Error Correction Approach. JEL Classification: F42؛ F51؛ C13 | ||
| مراجع | ||
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