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Understanding economic sanctions: Interdisciplinary perspectives on theory and evidence

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  • Felbermayr, Gabriel
  • Morgan, T. Clifton
  • Syropoulos, Constantinos
  • Yotov, Yoto V.

Abstract

We review a number of developments and trends in the literature on economic sanctions. We discuss salient contributions to the theoretical literature, data collection, and empirical work on the impact, effectiveness and success of sanctions in Economics and Political Science. Our interdisciplinary perspective highlights the existence of a stark contrast in the ways the two disciplines view and analyze sanctions. Taking advantage of this perspective, we identify potential directions for future work. Most importantly, we argue that moving toward a better understanding of the causes and consequences of economic sanctions requires a much tighter integration of concepts from Political Science and Economics and a more extensive interdisciplinary collaboration.

Suggested Citation

  • Felbermayr, Gabriel & Morgan, T. Clifton & Syropoulos, Constantinos & Yotov, Yoto V., 2021. "Understanding economic sanctions: Interdisciplinary perspectives on theory and evidence," European Economic Review, Elsevier, vol. 135(C).
    • Handle: RePEc:eee:eecrev:v:135:y:2021:i:c:s0014292121000738
    DOI: 10.1016/j.euroecorev.2021.103720
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    More about this item

    Keywords

    Economic Sanctions; Embargoes; Sanction theories; Sanction Data;
    All these keywords.

    JEL classification:

    • F1 - International Economics - - Trade
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F5 - International Economics - - International Relations, National Security, and International Political Economy
    • F51 - International Economics - - International Relations, National Security, and International Political Economy - - - International Conflicts; Negotiations; Sanctions
    • H5 - Public Economics - - National Government Expenditures and Related Policies
    • N4 - Economic History - - Government, War, Law, International Relations, and Regulation

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