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United Nations Sanctions on North Korea's Luxury Goods Imports: Impact and Implications

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  • Hyung‐Gon Jeong

Abstract

This article examines the impacts of UN Security Council sanctions on North Korea's banned luxury goods imports from 2004 to 2017 by investigating the bilateral trade flows between North Korea and its 71 trading partner countries. This analysis provides some evidence that the sanctions were effective only for those countries that implemented the sanctions. Overall, it is difficult to conclude that United Nations Resolution 1718, which was mainly targeted to ban luxury goods exports to North Korea, was effective in curtailing North Korea's import of luxury goods for the time period from 2006 to 2007. The article argues that the lack of a clearly defined list of luxury goods and the lack of enforcement are important reasons for the ineffectiveness of the sanctions.

Suggested Citation

  • Hyung‐Gon Jeong, 2019. "United Nations Sanctions on North Korea's Luxury Goods Imports: Impact and Implications," Asian Economic Policy Review, Japan Center for Economic Research, vol. 14(2), pages 214-233, July.
    • Handle: RePEc:bla:asiapr:v:14:y:2019:i:2:p:214-233
    DOI: 10.1111/aepr.12258
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