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In Consideration of Economic Sanctions

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  • Ralph, Lauren

    (The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise)

Abstract

Economic sanctions have been an enduring and widespread policy tool, seeking to extract concessions from target countries by causing them economic pain. Due to their popularity amongst politicians, sanctions have attracted a breadth of research regarding their effectiveness and the potential consequences of utilization. This paper reviews the literature and presents over thirty researchers' thoughts on numerous aspects of economic sanctions. Topics include how to define a successful sanction, the various success rates of sanctions, the factors influencing the success of a sanction, and the reasons policymakers continue to use sanctions. Finally, the review examines contemporary dialogue on sanctions from U.S. politicians, which generally confirms the theories that sanctions are meant to signal values to the international community, punish those who violate norms and deter future negative action.

Suggested Citation

  • Ralph, Lauren, 2019. "In Consideration of Economic Sanctions," Studies in Applied Economics 131, The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise.
    • Handle: RePEc:ris:jhisae:0131
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    File URL: https://sites.krieger.jhu.edu/iae/files/2019/01/In-Consideration-of-Economic-Sanctions.pdf
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    References listed on IDEAS

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    1. Davis, Christopher Mark (Дэвис, Кристофер Марк), 2016. "The Ukraine Conflict, Economic-Military Power Balances and Economic Sanctions [Конфликт На Украине: Соотношение Военно-Политических Сил И Экономические Санкции]," Ekonomicheskaya Politika / Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 4, pages 196-216, August.
    2. Philip I. Levy, 1999. "Sanctions on South Africa: What Did They Do?," American Economic Review, American Economic Association, vol. 89(2), pages 415-420, May.
    3. Slavi T. Slavov, 2007. "Innocent or Not‐so‐innocent Bystanders: Evidence from the Gravity Model of International Trade About the Effects of UN Sanctions on Neighbour Countries," The World Economy, Wiley Blackwell, vol. 30(11), pages 1701-1725, November.
    4. Mary Elisabeth Cox, 2015. "Hunger games: or how the Allied blockade in the First World War deprived German children of nutrition, and Allied food aid subsequently saved them," Economic History Review, Economic History Society, vol. 68(2), pages 600-631, May.
    5. Gary Clyde Hufbauer & Jeffrey J. Schott & Kimberly Ann Elliott, 2009. "Economic Sanctions Reconsidered, 3rd Edition (paper)," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 4129, January.
    6. Daniel Verdier & Byungwon Woo, 2011. "Why Rewards Are Better Than Sanctions," Economics and Politics, Wiley Blackwell, vol. 23(2), pages 220-238, July.
    7. Davis, Christopher Mark (Дэвис, Кристофер Марк), 2016. "The Ukraine conflict, economic-military power balances and economic sanctions [Конфликт На Украине: Соотношение Военно-Политических Сил И Экономические Санкции]," Ekonomicheskaya Politika / Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 3, pages 7-29, August.
    8. Christopher Mark Davis, 2016. "The Ukraine conflict, economic–military power balances and economic sanctions," Post-Communist Economies, Taylor & Francis Journals, vol. 28(2), pages 167-198, April.
    9. Nossal, Kim Richard, 1989. "International sanctions as international punishment," International Organization, Cambridge University Press, vol. 43(2), pages 301-322, April.
    10. Gary Clyde Hufbauer & Jeffrey J. Schott & Kimberly Ann Elliott, 1990. "Economic Sanctions Reconsidered: 2nd Edition," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 82, January.
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    Cited by:

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    economic sanctions; foreign policy;

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