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Economic Sanctions and North Korea

Author

Listed:
  • Bob Carbaugh
  • Koushik Ghosh

Abstract

The United States has enacted economic sanctions against North Korea since the early 1950s when North Korea attacked South Korea. Can North Korea be pressured into giving up its nuclear weapons? This article discusses the role of economic sanctions as a tool of international diplomacy with North Korea. Using concepts and tools taught in undergraduate economics classes, the article discusses the operation of sanctions and then it applies this analysis to the case of North Korea. The article examines the success that sanctions have achieved in bringing Kim Jong Un to the bargaining table and the difficulties that sanctions encounter in promoting a lasting resolution of the conflict between North Korea and the United States. The article is written for a broad audience of economics students. JEL Classifications : F0, F1

Suggested Citation

  • Bob Carbaugh & Koushik Ghosh, 2019. "Economic Sanctions and North Korea," The American Economist, Sage Publications, vol. 64(1), pages 131-141, March.
    • Handle: RePEc:sae:amerec:v:64:y:2019:i:1:p:131-141
    DOI: 10.1177/0569434518808016
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    References listed on IDEAS

    as
    1. Kaempfer, William H. & Lowenberg, Anton D., 2007. "The Political Economy of Economic Sanctions," Handbook of Defense Economics, in: Keith Hartley & Todd Sandler (ed.), Handbook of Defense Economics, edition 1, volume 2, chapter 27, pages 867-911, Elsevier.
    2. 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, October.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    sanctions; North Korea; Kim Jong Un;
    All these keywords.

    JEL classification:

    • F0 - International Economics - - General
    • F1 - International Economics - - Trade

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