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The Impact of International Economic Sanctions on Trade Empirical Evidence over the Period 1960-2000

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  • Raul CARUSO

    (Universita' Cattolica di Milano)

Abstract

International economic sanctions are a recurring feature of political interactions. This paper provides, through a gravity model approach, an estimation of the impact of sanctions on international trade. The study reports panel estimates between the US and 49 target countries over the period 1960- 2000, inclusive. The results show that extensive sanctions have a large negative impact on bilateral trade, while this is not the case for limited and moderate sanctions. A second estimation focuses on the impact of unilateral US sanctions on bilateral trade between target countries and the other G-7 countries. The results show that unilateral extensive sanctions have also a large negative impact, while limited ones induce a slight positive effect on other G-7 countries trade. In the first case the hypothesis of negative ‘network effects’ is confirmed, while in the latter the sanctions-busting argument should be defended.

Suggested Citation

  • Raul CARUSO, 2005. "The Impact of International Economic Sanctions on Trade Empirical Evidence over the Period 1960-2000," Rivista Internazionale di Scienze Sociali, Vita e Pensiero, Pubblicazioni dell'Universita' Cattolica del Sacro Cuore, vol. 113(1), pages 41-66.
    • Handle: RePEc:vep:journl:y:2005:v:113:i:1:p:41-66
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    Citations

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    Cited by:

    1. Liudmila Popova & Ehsan Rasoulinezhad, 2016. "Have Sanctions Modified Iran’s Trade Policy? An Evidence of Asianization and De-Europeanization through the Gravity Model," Economies, MDPI, vol. 4(4), pages 1-15, October.
    2. Koji Kubo, 2014. "Myanmar's non-resource export potential after the lifting of economic sanctions: a gravity model analysis," Asia-Pacific Development Journal, United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), vol. 21(1), pages 1-22, June.
    3. Gleb Aksenov & Ronglin Li & Qamar Abbas & Houlda Fambo & Sergey Popkov & Vadim Ponkratov & Mikhail Kosov & Izabella Elyakova & Marina Vasiljeva, 2023. "Development of Trade and Financial-Economical Relationships between China and Russia: A Study Based on the Trade Gravity Model," Sustainability, MDPI, vol. 15(7), pages 1-39, March.

    More about this item

    Keywords

    International negative sanctions; international trade; gravity model;
    All these keywords.

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • H89 - Public Economics - - Miscellaneous Issues - - - Other

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