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Does Economic Sanction Work? The Case of North Korea

  • Jinhwan Oh

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    Based on the gravity model of international trade, this paper initially analyzes North Korea’s international trade pattern, which tends to follow the prediction of the gravity model: a positive relationship between trade and trading partners’ GDP, and negative relationship between trade and distance. This pattern has been consistently preserved over recent several years in spite of economic sanctions by various countries, implying that those sanctions do not significantly change North Korea’s trade environment. This result lies on the substitutability of goods among countries. For example, North Korea has traded increasingly larger amount of goods with China and Korea since Japan imposed sanctions against Pyeongyang. Unless all countries strictly agree on imposing sanctions against a specific country, which is almost impossible to be realized, imposing economic sanction will turn out to be unsuccessful.

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    File URL: http://www-sre.wu.ac.at/ersa/ersaconfs/ersa10/ERSA2010finalpaper621.pdf
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    Paper provided by European Regional Science Association in its series ERSA conference papers with number ersa10p621.

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    Date of creation: Sep 2011
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    Handle: RePEc:wiw:wiwrsa:ersa10p621
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    1. David Hummels & James Levinsohn, 1993. "Monopolistic Competition and International Trade: Reconsidering the Evidence," NBER Working Papers 4389, National Bureau of Economic Research, Inc.
    2. Caruso Raul, 2003. "The Impact of International Economic Sanctions on Trade: An Empirical Analysis," Peace Economics, Peace Science, and Public Policy, De Gruyter, vol. 9(2), pages 1-36, April.
    3. Han Paul S., 2004. "Report on Critical Dimensions and Problems of the North Korean Situation (1996-2004)," Peace Economics, Peace Science, and Public Policy, De Gruyter, vol. 10(3), pages 1-43, December.
    4. Shang-Jin Wei, 1996. "Intra-National versus International Trade: How Stubborn are Nations in Global Integration?," NBER Working Papers 5531, National Bureau of Economic Research, Inc.
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