Cover Departmental Papers
The Spillover Effects of Russia’s Economic Slowdown on Neighboring Countries
Author: Ara Stepanyan, Agustin Roitman1, Gohar Minasyan2, Ms. Dragana Ostojic, and Mr. Natan P. Epstein
  • 1 https://isni.org/isni/0000000404811396, International Monetary Fund
  • | 2 https://isni.org/isni/0000000404811396, International Monetary Fund
Series:
Departmental Papers
Volume/Issue:
Volume 2015: Issue 013
Language:
English
Publication Date:
11 Nov 2015
DOI:
https://doi.org/10.5089/9781513571348.087
ISBN:
9781513571348
ISSN:
2616-5333
Pages:
25
Keywords:
DPPP; DP; Russia; exchange rate; dollar; CIS country; CIS oil importer; import ban; growth slowdown; exchange rate depreciation; growth shock; Spillovers; Oil prices; Exchange rates; Currencies; Depreciation; Baltics; Eastern Europe; Global
Legal-disclaimer:
The Departmental Paper Series presents research by IMF staff on issues of broad regional or cross-country interest. The views expressed in this paper are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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In the face of sharply lower oil prices and geopolitical tensions and sanctions, economic activity in Russia decelerated in late 2014, resulting in negative spillovers on Commonwealth of Independent States (CIS) and, to a lesser extent, on Baltic countries. The spillovers to eastern Europe have been limited. The degree of impact is commensurate with the level of these countries’ trade, remittances, and foreign direct investment (FDI) links with Russia. So far, policy action by the affected countries has focused on mitigating the immediate consequences of spillovers.
Cover Departmental Papers
Departmental Papers
ISSN:
2616-5333
Publisher:
International Monetary Fund