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Economic Sanctions: Evolution, Consequences, and Challenges

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  • Morgan, T. Clifton

    (Rice University)

  • Syropoulos, Constantinos

    (Drexel University)

  • Yotov, Yoto

    (Drexel University)

Abstract

Taking an interdisciplinary perspective, we examine the evolution of economic sanctions in the post-World War II era and reflect on the lessons that could be drawn from their patterns of use. We observe that, during this time, there has been a remarkable increase in the use of sanctions as an instrument of foreign policy. We classify this period into four `eras' and discuss, in this context, how the evolution of sanctions may be linked to salient features of the contemporaneous international political and economic orders. Our review of the literatures on sanctions in economics and political science suggests, among other things, that our understanding of sanction processes could be significantly advanced by marrying these perspectives. We conclude by identifying several questions and challenges, and by discussing how interdisciplinary research could address them.

Suggested Citation

  • Morgan, T. Clifton & Syropoulos, Constantinos & Yotov, Yoto, 2022. "Economic Sanctions: Evolution, Consequences, and Challenges," School of Economics Working Paper Series 2022-12, LeBow College of Business, Drexel University.
    • Handle: RePEc:ris:drxlwp:2022_012
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    Cited by:

    1. Elias Dinopoulos & Constantinos Syropoulos & Theofanis Tsoulouhas, 2023. "Global Innovation Contests," Games, MDPI, vol. 14(1), pages 1-24, February.
    2. Görg, Holger & Jacobs, Anna & Meuchelböck, Saskia, 2023. "Who is to suffer? Quantifying the impact of sanctions on German firms," Kiel Working Papers 2248, Kiel Institute for the World Economy (IfW Kiel).
    3. Fabio Ashtar Telarico, 2023. "Are Sanctions for Losers? [Les sanctions sont-elles destinées aux perdants ?]," Post-Print hal-04238902, HAL.
    4. Görg, Holger & Jacobs, Anna & Meuchelböck, Saskia, 2023. "Who Is to Suffer? Quantifying the Impact of Sanctions on German Firms," IZA Discussion Papers 16146, Institute of Labor Economics (IZA).
    5. Raul Caruso & Maria Cipollina, 2023. "The Effect of Economic Sanctions on World Trade of Mineral Commodities. A Gravity Model Approach from 2009 to 2020," DISCE - Quaderni del Dipartimento di Politica Economica dipe0034, Università Cattolica del Sacro Cuore, Dipartimenti e Istituti di Scienze Economiche (DISCE).
    6. Farzanegan Mohammad Reza & Batmanghelidj Esfandyar, 2023. "Understanding Economic Sanctions on Iran: A Survey," The Economists' Voice, De Gruyter, vol. 20(2), pages 197-226, December.
    7. Simola, Heli, 2023. "What the literature says about the effects of sanctions on Russia," BOFIT Policy Briefs 8/2023, Bank of Finland Institute for Emerging Economies (BOFIT).
    8. Juan de Lucio & Raúl Mínguez & Asier Minondo & Francisco Requena, 2024. "Reducing trade with Russia: Sanctions vs. reputation," Working Papers 2406, Department of Applied Economics II, Universidad de Valencia.
    9. Fabio Ashtar Telarico, 2023. "Are sanctions for losers? A network study of trade sanctions," Papers 2310.08193, arXiv.org.

    More about this item

    Keywords

    Sanctions; Evolution of Sanctions; Sanction Success and Effectiveness;
    All these keywords.

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F51 - International Economics - - International Relations, National Security, and International Political Economy - - - International Conflicts; Negotiations; Sanctions

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