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Iran’s trade policy of Asianization and de-Europeanization under sanctions

Author

Listed:
  • Mohammad Nasre Esfahani
  • Ehsan Rasoulinezhad

Abstract

Purpose - The purpose of this paper is to find out whether under sanctions, Iran’s trade direction has shifted from Europe (trade policy of de-Europeanization) toward Asia (trade policy of Asianization). Design/methodology/approach - The paper conducts three panel data estimations (FE, RE, and FMOLS) based on the gravity model approach for bilateral trade patterns between Iran-25 EU members and Iran-25 Asian countries over the period 2006-2013. Findings - The empirical evidence indicates a significant negative effect of sanctions on Iran-EU bilateral trade, while it has a positive impact on trade between Iran and the Asian countries. These findings empirically confirmed that the imposition of various sanctions related to the Iran’s nuclear program has pushed the foreign trade policy of this country toward Asianization and away from Europeanization. Originality/value - To the best of the authors’ knowledge, this paper is the first attempt to examine the Iran’s trade policy changing under the imposition of sanctions related to its nuclear program.

Suggested Citation

  • Mohammad Nasre Esfahani & Ehsan Rasoulinezhad, 2017. "Iran’s trade policy of Asianization and de-Europeanization under sanctions," Journal of Economic Studies, Emerald Group Publishing Limited, vol. 44(4), pages 552-567, September.
    • Handle: RePEc:eme:jespps:jes-05-2016-0101
    DOI: 10.1108/JES-05-2016-0101
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    Citations

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    Cited by:

    1. Ehsan Rasoulinezhad & Farhad Taghizadeh-Hesary, 2017. "A new evidence on the CIS?s environmental pollution-macroeoconmic variables relationship," ECONOMICS AND POLICY OF ENERGY AND THE ENVIRONMENT, FrancoAngeli Editore, vol. 2017(1-2), pages 273-293.
    2. Sanati, Youssef, 2019. "Der Wirtschaftsstandort Iran zwischen Förderung und Sanktion: Eine ARDL-modellbasierte Analyse ausländischer Investitionen," Arbeitspapiere 186, University of Münster, Institute for Cooperatives.

    More about this item

    Keywords

    Iran; Gravity model; Sanctions; Trade policy; C33; F10;
    All these keywords.

    JEL classification:

    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • F10 - International Economics - - Trade - - - General

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