Matthieu Crozet, Julian Hinz, Amrei Stammann, Joschka Wanner
Politics affects the banking sector in many ways (e.g. Calomiris and Huber 2014). For example, governments in many countries direct commercial bank lending to specific sectors and/or stimulate lending to small and medium-sized enterprises (e.g. Brown and Dinc 2005). And during the recent COVID-19 pandemic, many governments created emergency loan guarantee schemes that were covering and spurring their banks lending. In this column, we turn to another recent and striking episode of political impact, namely, the global financial sanctions on Russian banks with close ties to their domestic government that commenced in 2014 and were sequentially imposed on various banks during a five-year period. In general, economic sanctions become increasingly popular from 2010s, being mostly driven by the US to restrain politically unfavourable regimes (Felbermayr et al. 2021). While their effects at the firm level are well studied (Croz
After great recession struggle economic recovery and growth | Macroeconomics and monetary economics
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The Global Sanctions Data Base : Mapping international sanction policies from 1950-2019
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Matthias Parey , Fabian Waldinger
On 23 June 2016, the UK voted to leave the EU by a 52:48 split. In March 2017, the UK Parliament confirmed the result of the referendum. After a long negotiation process, the UK officially left the EU in January 2020. One of the hallmarks of the EU is the free movement of people between member countries; Brexit implied an eventual end to this mobility for most European migrants.
Brexit ultimately affected the costs of studying in the UK by modifying students’ ability to secure loans, introducing visa requirements, and increasing uncertainty whether international students would be able to stay in the country and find employment after they complete their studies. These higher costs could deter prospective students from considering studying in the UK in the first place.