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Business Retreats and Sanctions Are Crippling the Russian Economy
Report

Business Retreats and Sanctions Are Crippling the Russian Economy

Jeffrey A. Sonnenfeld, Steven Tian, Franek Sokolowski, Michal Wyrebkowski and Mateusz Kasprowicz
SSRN, 2022
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9

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On the heels of its attack on Ukraine, Russia is in rapid decline, according to this authoritative report from a team of international researchers and economists. Russia’s isolation in a globalized economy is only worsening the plight of its citizens, who lack many goods and services. These experts note that efforts to apply fiscal and monetary stimulus obscure what is increasingly a hollowed-out economy, and they warn that self-reliance in manufacturing without access to imports, capital markets and knowledge transfers spells further turmoil for the country.

Take-Aways

  • Russia is disseminating a false narrative of its economic resilience to Western sanctions.
  • The Russian economy is cratering as the war in Ukraine drags on.
  • Russia’s economy is precarious, and the country’s future is bleak.

About the Authors

Professor Jeffrey A. Sonnenfeld, research director Steven Tian and graduate student Franek Sokolowski are with Yale School of Management. Michal Wyrebkowski is a student at the Wharton Business School at the University of Pennsylvania. Mateusz Kasprowicz is a student at the Warsaw School of Economics.

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