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Economic Sanctions: Stylized Facts and Quantitative Evidence

Author

Listed:
  • Felbermayr, Gabriel

    (Vienna University & WIFO)

  • Morgan, T. Clifton

    (Rice University)

  • Syropoulos, Constantinos

    (Drexel University & CESifo)

  • Yotov, Yoto

    (Drexel University & CESifo)

Abstract

The remarkable increase in the use of economic sanctions as a coercive tool of foreign policy over the past quarter century has been accompanied by an equally rapid growth in the number of academic and policy studies. We review recent work in this area. We start by highlighting stylized facts from the Global Sanctions Database, the most comprehensive macro source of information on sanction regimes. We then review the growing empirical literature on the effects of sanctions on economic outcomes with a special focus on trade. Finally, based on the evidence, we discuss open conceptual questions and the direction of future work in the area of sanctions.

Suggested Citation

  • Felbermayr, Gabriel & Morgan, T. Clifton & Syropoulos, Constantinos & Yotov, Yoto, 2024. "Economic Sanctions: Stylized Facts and Quantitative Evidence," School of Economics Working Paper Series 2024-12, LeBow College of Business, Drexel University.
    • Handle: RePEc:ris:drxlwp:2024_012
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    Keywords

    Economic Sanctions; Data; Stylized Facts; Quantitative Evidence;
    All these keywords.

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F51 - International Economics - - International Relations, National Security, and International Political Economy - - - International Conflicts; Negotiations; Sanctions
    • H59 - Public Economics - - National Government Expenditures and Related Policies - - - Other
    • N40 - Economic History - - Government, War, Law, International Relations, and Regulation - - - General, International, or Comparative

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