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Economic Sanctions: Evolution, Consequences, and Challenges

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  • Morgan, T. Clifton

    (Rice University)

  • Syropoulos, Constantinos

    (Drexel University)

  • Yotov, Yoto

    (Drexel University)

Abstract

Taking an interdisciplinary perspective, we examine the evolution of economic sanctions in the post-World War II era and reflect on the lessons that could be drawn from their patterns of use. We observe that, during this time, there has been a remarkable increase in the use of sanctions as an instrument of foreign policy. We classify this period into four `eras' and discuss, in this context, how the evolution of sanctions may be linked to salient features of the contemporaneous international political and economic orders. Our review of the literatures on sanctions in economics and political science suggests, among other things, that our understanding of sanction processes could be significantly advanced by marrying these perspectives. We conclude by identifying several questions and challenges, and by discussing how interdisciplinary research could address them.

Suggested Citation

  • Morgan, T. Clifton & Syropoulos, Constantinos & Yotov, Yoto, 2022. "Economic Sanctions: Evolution, Consequences, and Challenges," School of Economics Working Paper Series 2022-12, LeBow College of Business, Drexel University.
    • Handle: RePEc:ris:drxlwp:2022_012
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    Keywords

    Sanctions; Evolution of Sanctions; Sanction Success and Effectiveness;
    All these keywords.

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F51 - International Economics - - International Relations, National Security, and International Political Economy - - - International Conflicts; Negotiations; Sanctions

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