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Economic sanctions and output growth: Empirical evidence

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  • Petrevski, Goran

Abstract

This paper provides evidence on the effects of sanctions on economic growth for a sample of 107 countries during 1960-2020. The main findings from our empirical investigation are as follows: sanctions have neither contemporaneous nor delayed effects on output growth; in contrast, we find that military conflicts have strong negative impact on growth; differentiating by the senders, we find that both unilateral and multilateral sanctions are non-effective, whereas US sanctions have strong negative effects on growth; as for the effects of various types of sanctions, we provide evidence on the negative impact of trade and financial sanctions, whereas travel and other sanctions do not affect output growth.

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  • Petrevski, Goran, 2025. "Economic sanctions and output growth: Empirical evidence," EconStor Preprints 325283, ZBW - Leibniz Information Centre for Economics.
    • Handle: RePEc:zbw:esprep:325283
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    JEL classification:

    • 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
    • F53 - International Economics - - International Relations, National Security, and International Political Economy - - - International Agreements and Observance; International Organizations

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