Early phase success and long run failure of economic sanctions. With an application to Iran
We develop a model of the dynamics of economic sanctions in conjunction with the response of the sanction target. We apply this model to the case of the EU and US boycott of Iranian oil. Our VAR model finds significant impacts of sanctions both on key economic variables and on the political system. These effects, however, are limited in time and occur in the first two to four years of the sanction episode only because adjustment of economic structures mitigates the economic and political impact of the sanctions.
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- Farzanegan, Mohammad Reza & Markwardt, Gunther, 2009.
"The effects of oil price shocks on the Iranian economy,"
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- Farzanegan, Mohammad Reza & Markwardt, Gunther, 2008. "The effects of oil price shocks on the Iranian economy," Dresden Discussion Paper Series in Economics 15/08, Technische Universität Dresden, Faculty of Business and Economics, Department of Economics.
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- Hossein Askari & John Forrer & Hildy Teegen & Jiawen Yang, 2002.
"Economic sanctions and US international business interests,"
Banca Nazionale del Lavoro Quarterly Review,
Banca Nazionale del Lavoro, vol. 55(220), pages 55-69.
- Hossein Askari & John Forrer & Hildy Teegen & Jiawen Yang, 2002. "Economic sanctions and US international business interests," BNL Quarterly Review, Banca Nazionale del Lavoro, vol. 55(220), pages 55-69.
- Farzanegan, Mohammad Reza, 2011. "Oil revenue shocks and government spending behavior in Iran," Energy Economics, Elsevier, vol. 33(6), pages 1055-1069.
- Iwayemi, Akin & Fowowe, Babajide, 2011. "Impact of oil price shocks on selected macroeconomic variables in Nigeria," Energy Policy, Elsevier, vol. 39(2), pages 603-612, February.
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