IDEAS home Printed from https://ideas.repec.org/a/bla/coecpo/v18y2000i2p135-144.html
   My bibliography  Save this article

Country impacts of multilateral oil sanctions

Author

Listed:
  • ME. Canes

Abstract

In recent years, economic sanctions have become an important tool in the conduct of U.S. foreign policy. Though usually aimed at a single country, they also can affect the economies of other nations. Knowledge of such impacts would inform U.S. policy‐makers as to which other countries might be helped or harmed, and help predict which other nations likely would support or oppose the sanctions. This article presents results relating to the imposition of sanctions in the oil market. These results are obtained from exercising a dynamic computable general equilibrium model built by Charles River Associates under sponsorship of the American Petroleum Institute. The model is used to analyze GDP effects on a number of countries from multilateral oil sanctions against Iraq. The results suggest that it is possible to provide useful information regarding the impacts of sanctions as a foreign policy tool. However, they also indicate that sanctions can be expensive, with substantial spillover effects. Though sanctions may be an appropriate policy choice in given instances, these effects should be incorporated into foreign policy analyses.

Suggested Citation

  • ME. Canes, 2000. "Country impacts of multilateral oil sanctions," Contemporary Economic Policy, Western Economic Association International, vol. 18(2), pages 135-144, April.
    • Handle: RePEc:bla:coecpo:v:18:y:2000:i:2:p:135-144
    DOI: 10.1111/j.1465-7287.2000.tb00012.x
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/j.1465-7287.2000.tb00012.x
    Download Restriction: no
    File URL: https://libkey.io/10.1111/j.1465-7287.2000.tb00012.x?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Chaim Fershtman & Neil Gandal, 1998. "The Effect of the Arab Boycott on Israel: The Automobile Market," RAND Journal of Economics, The RAND Corporation, vol. 29(1), pages 193-214, Spring.
    2. Paul M. Bernstein & W. David Montgomery & Thomas F. Rutherford & Gui-Fang Yang, 1999. "Effects of Restrictions on International Permit Trading: The MS-MRT Model," The Energy Journal, International Association for Energy Economics, vol. 0(Special I), pages 221-256.
    3. Kaemfer, William H & Lowenberg, Anton D, 1988. "The Theory of International Economic Sanctions: A Public Choice Approach," American Economic Review, American Economic Association, vol. 78(4), pages 786-793, September.
    4. Shane Bonetti, 1997. "A test of the public choice theory of economic sanctions," Applied Economics Letters, Taylor & Francis Journals, vol. 4(12), pages 729-732.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Charles A. Rarick, 2007. "Economic Sanctions: Failed Foreign Policy Tool And A Cost To American Business," Economic Affairs, Wiley Blackwell, vol. 27(3), pages 65-70, September.
    2. David Lektzian & Mark Souva, 2007. "An Institutional Theory of Sanctions Onset and Success," Journal of Conflict Resolution, Peace Science Society (International), vol. 51(6), pages 848-871, December.
    3. Tovar, Jorge, 2012. "Consumers’ Welfare and Trade Liberalization: Evidence from the Car Industry in Colombia," World Development, Elsevier, vol. 40(4), pages 808-820.
    4. Jerg Gutmann & Matthias Neuenkirch & Florian Neumeier, 2024. "Do China and Russia undermine Western sanctions? Evidence from DiD and event study estimation," Review of International Economics, Wiley Blackwell, vol. 32(1), pages 132-160, February.
    5. Carolyn Fischer & Richard D. Morgenstern, 2006. "Carbon Abatement Costs: Why the Wide Range of Estimates?," The Energy Journal, International Association for Energy Economics, vol. 0(Number 2), pages 73-86.
    6. Itamar Milrad, 2018. "GREEN TAXATION: THE INFLUENCE AND DESIRABILITY OF THE FEEBATE SCHEME IN THE ISRAELI NEW CAR MARKETIn August 2009, a “green taxation”," Israel Economic Review, Bank of Israel, vol. 16(2), pages 1-36.
    7. Aldunate, Felipe & Gonzalez, Felipe & Prem, Mounu, 2022. "The Limits of Hegemony: U.S. Banks and Chilean Firms in the Cold War," SocArXiv z8f4h_v1, Center for Open Science.
    8. Gernot Klepper & Sonja Peterson, 2005. "Trading Hot-Air. The Influence of Permit Allocation Rules, Market Power and the US Withdrawal from the Kyoto Protocol," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 32(2), pages 205-228, October.
    9. Joshi, Sumit & Mahmud, Ahmed Saber, 2018. "Unilateral and multilateral sanctions: A network approach," Journal of Economic Behavior & Organization, Elsevier, vol. 145(C), pages 52-65.
    10. Shi, Qun & Tyers, Rod, 2005. "Global Demographic Change and Economic Performance: Applications of an Augmented GTAP-Dynamic," Conference papers 331414, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    11. Maia Carter Hallward & Taib Biygautane, 2024. "Arab State Narratives on Normalization with Israel: Justifying Policy Reversal," Contemporary Review of the Middle East, , vol. 11(1), pages 23-49, March.
    12. Afesorgbor, Sylvanus Kwaku & Mahadevan, Renuka, 2016. "The Impact of Economic Sanctions on Income Inequality of Target States," World Development, Elsevier, vol. 83(C), pages 1-11.
    13. Qi Sun & Fang Wu & Shanjun Li & Rajdeep Grewal, 2021. "Consumer Boycotts, Country of Origin, and Product Competition: Evidence from China’s Automobile Market," Management Science, INFORMS, vol. 67(9), pages 5857-5877, September.
    14. Forsström, Juha & Honkatukia, Juha & Sulamaa, Pekka, 2003. "Global Change and Energy Markets - Analysis the Effects of Nordic Electricity Market Integration on Environmental Policy Using GTAP-E Model," Discussion Papers 882, The Research Institute of the Finnish Economy.
    15. Jin Mun Jeong & Dursun Peksen, 2019. "Domestic Institutional Constraints, Veto Players, and Sanction Effectiveness," Journal of Conflict Resolution, Peace Science Society (International), vol. 63(1), pages 194-217, January.
    16. Russell Sobel, 1998. "Exchange rate evidence on the effectiveness of United Nations policy," Public Choice, Springer, vol. 95(1), pages 1-25, April.
    17. Dong, Yan & Li, Chunding, 2018. "Economic sanction games among the US, the EU and Russia: Payoffs and potential effects," Economic Modelling, Elsevier, vol. 73(C), pages 117-128.
    18. Jamal Ibrahim Haidar, 2017. "Sanctions and export deflection: evidence from Iran," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 32(90), pages 319-355.
    19. Jerg Gutmann & Matthias Neuenkirch & Florian Neumeier, 2024. "Political Economy of International Sanctions," Research Papers in Economics 2024-07, University of Trier, Department of Economics.
    20. Adamos Adamou & Sofronis Clerides & Theodoros Zachariadis, 2012. "Assessment of CO2-Oriented Vehicle Tax Reforms: A Case Study of Greece," University of Cyprus Working Papers in Economics 04-2012, University of Cyprus Department of Economics.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:coecpo:v:18:y:2000:i:2:p:135-144. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: https://edirc.repec.org/data/weaaaea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.