TIACOE Research Seminar: Professor Shang-Jin Wei

We are thrilled to invite you to the upcoming TIACOE research seminar at the Asia School of Business, featuring Professor Shang-Jin Wei, Professor of Finance and Economics, Columbia Business School.

Seminar Title: Financial Sanction and Russian Trade

Event Details:

📆 Date: 14 May 2026

⏰ Time: 12:30 PM – 1:30 PM

📍 Venue: CR-W2-05

Zoom Meeting:

https://asb-my.zoom.us/j/92824446848?pwd=M4mLnMaf47USHNnODM3nrV2c59due1.1

Meeting ID: 928 2444 6848

Passcode: 319598

📝 Register now!

Abstract:

What role do financial sanctions play relative to trade sanctions, and how effective are they? Using highly disaggregated transaction-level data on Russian trade, this study finds that financial sanctions—such as the removal of Russian banks from the SWIFT system and the withdrawal of Western banks from Russia—have significantly reduced Russian trade with both Western and non-Western countries.

The impact is particularly strong on the extensive margin, with fewer Russian firms able to engage in trade. Financial sanctions also amplify the effects of trade sanctions in trade with Western countries. However, their effects on trade with non-Western countries are partially offset by financial bypassing, including the increased use of non-Western currencies (notably the Chinese Renminbi) and alternative banking channels.

About the Speaker

Shang-Jin Wei is a prominent economist and professor at Columbia University, specializing in international finance, trade, and the Chinese economy. He has held senior roles at major global institutions, including Chief Economist of the Asian Development Bank and Assistant Director at the IMF.

His research—widely published in leading academic journals—covers areas such as global trade, corruption, and financial systems, and has been featured in major international media. He has also advised institutions including the Federal Reserve, World Bank, and United Nations.

Dr. Wei holds a PhD in Economics from UC Berkeley and has received several prestigious awards for his contributions to international and development economics.

We look forward to your participation in this insightful research seminar.

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