The Impact of UN and US Economic Sanctions on GDP Growth
AbstractIn this paper, we empirically assess how economic sanctions imposed by the UN and the US affect the target states' GDP growth. Our sample includes 68 countries and covers the period 1976-2012. We find that sanctions imposed by the UN have a statistically and economically significant influence on economic growth, but that the effect of US sanctions is less clear. On average, the imposition of UN sanctions decreases the target state's real per capita GDP growth rate by 2.3-3.5 percentage points (pp). Comprehensive UN economic sanctions, that is, embargoes affecting nearly all economic activity, trigger a reduction in GDP growth by more than 5 pp.
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Bibliographic InfoPaper provided by Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung) in its series MAGKS Papers on Economics with number 201424.
Date of creation: 2014
Date of revision:
Publication status: Forthcoming in
Economic growth; economic sanctions; United Nations; United States.;
Other versions of this item:
- Matthias Neuenkirch & Florian Neumeier, 2014. "The Impact of UN and US Economic Sanctions on GDP Growth," Research Papers in Economics 2014-08, University of Trier, Department of Economics.
- F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
- F51 - International Economics - - International Relations, National Security, and International Political Economy - - - International Conflicts; Negotiations; Sanctions
- F52 - International Economics - - International Relations, National Security, and International Political Economy - - - National Security; Economic Nationalism
- F53 - International Economics - - International Relations, National Security, and International Political Economy - - - International Agreements and Observance; International Organizations
This paper has been announced in the following NEP Reports:
- NEP-ALL-2014-04-11 (All new papers)
- NEP-GER-2014-04-11 (German Papers)
- NEP-GRO-2014-04-11 (Economic Growth)
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