Methodological bases of evaluating the effectiveness of external economic sanctions
Grigoryan G.R.1
1 НИЯУ МИФИ
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Journal paper
Journal of International Economic Affairs (РИНЦ, ВАК)
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Volume 9, Number 4 (October-December 2019)
Indexed in Russian Science Citation Index: https://elibrary.ru/item.asp?id=42446295
Cited: 11 by 28.06.2023
Abstract:
The sanctions against developing states of the world are discussed in the article, namely, the author answers the following questions: what objectives are pursued by sanctions and how these objectives are effectively achieved. Foreign economic sanctions in today's world gains popularity, and their role has increased significantly as an alternative to violent confrontations. The examples of Iran, Cuba and the Central African Republic (CAR) show the results of the foreign economic sanctions imposed on those countries. Foreign economic sanctions in most cases are politicized, which complicates the economic feasibility of imposing sanctions. The article emphasizes the negative changes in the levels of gross domestic product (GDP) of these countries during the period of the sanctions, which indicates the difficult economic situation in these countries. In some cases where political results are not achieved by the imposition of sanctions, their effectiveness is questioned, as the social and humanitarian consequences of sanctions. Nowadays’ sanctions are a serious weapon in international relations, as well as an instrument of influence in the world economy. In case of improper use of foreign economic sanctions they can be a source of problems for the initiator of sanctions and its allies. In case of complex economic relations, a full assessment of the situation before the imposition of sanctions and the expected result after the imposition of sanctions is required. Western countries must take into account the fact that they will demonstrate their inefficiency in the future.
Keywords: world economy, trade, gdp, developing countries, Africa, external economic sanctions, effectiveness of sanctions
JEL-classification: F51, F02, F13, N77, N17
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