The Empirical Evidence of the EU–Russia Failed Strategic Partnership
Did it have a Positive Impact on Bilateral Trade
Bibliographic Data
| ID | 12416709 |
|---|---|
| Authors | Anna Garashchuk (0000-0002-5466-3390, Universidad de Málaga, corresponding author), Fernando Isla Castillo (0000-0001-5139-3797, Universidad de Málaga), Pablo Podadera Rivera (Universidad de Málaga) |
| Year | 2021 |
| Volume | 30 |
| Issue | 5 |
| Pages | 657-685 |
| Publication date | 2021-04-14 |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | European Review (JOURNAL) |
| Journal identifiers | ISSN: 1062-7987 • E-ISSN: 1474-0575 |
| Publisher | Cambridge University Press (CUP) (PUBLISHER) |
| DOI | 10.1017/s1062798721000090 |
| OpenAlex | W3155917867 |
| Language | EN |
| Citations received | 1 |
| References cited | 9 |
Many observers were casting doubts about the existence of a strategic partnership between Russia and the European Union long before the annexation of Crimea and the subsequent strained relations between the two blocs. Nevertheless, the main challenge of this article is to prove that there was indeed a positive effect regarding the strategic partnership on bilateral trading – together with such factors as the growth of the Russian and EU GDPs per capita, the devaluation of the Russian currency and the oil price increase – by applying the Gravity Model. Based on this model, it was also confirmed that there was a negative effect of the geographical distance and sanctions between parties on the EU–Russia trade flow. Moreover, we tried to predict by means of the Error Correction Models how EU–Russia bilateral trade would have changed according to a scenario wherein the parties continued being strategic partners, and had the sanctions not been imposed. As such, and by the method described, not only was it empirically confirmed that the major partners would have received the most benefit from the strategic partnership with Russia but even Russia’s smaller trading partners are incurring significant welfare losses from sanctions, along with Russia itself
Annexation · Bilateral trade · Business · Economics · European union · General partnership · International economics · International trade · Political science · Politics · Sanctions · Economic Sanctions and International Relations · Global Energy Security and Policy · Global trade and economics · Finance
| Citations per year | 0.33 |
|---|---|
| Citation span | 2023 - 2023 (1) |
| Highly cited | No |