Economics Dictionary of ArgumentsHome
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| Sanctions effectiveness: Sanctions effectiveness in economics refers to the degree to which economic sanctions achieve their intended policy goals. This often involves pressuring a target country or entity to change its behavior, such as halting aggression, improving human rights, or stopping nuclear proliferation. Factors influencing effectiveness include the scope of sanctions, international cooperation, and the target's economic vulnerability. See also Sanctions, Sanctions policies, Sanctions theory, Sanctions debate._____________Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments. | |||
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Constantinos Syropoulos on Sanctions Effectiveness - Dictionary of Arguments
Morgan I 5 Sanctions effectiveness/Morgan/Syropoulos/Yotov: (…) economists often evaluate sanctions based on their economic effects, while political scientists often evaluate sanctions based on whether the ultimate goals of the sanctions are achieved. We suggest a need to bring these perspectives together if we are to continue improving our understanding. Morgan I 12 (…) economists have tended to interpret “effectiveness” in terms of the economic damage that sanctions cause, while political scientists have considered sanctions “effective” only if they achieve their declared political objectives. The dividing line between sanction “effectiveness,” “success,” and “impact” is further blurred by the possibility that some issues are “fake” - in the sense that the overt political demands are intended only to provide cover for another agenda (Hufbauer and Jung 2020)(1). In addition, it is difficult to determine “success” when political objectives shift over time. In a recent example, sanctions were first imposed on Russia to dissuade it from invading Ukraine in 2022. But when sanctions failed to achieve that purpose, new purposes emerged: to punish Russia for its invasion; to provide indirect support to Ukraine to fight back against the invasion and induce Russia to end the war; and, in the words of US Secretary of Defense Lloyd Austin, to weaken Russia “to the degree that it can’t do the kinds of things that it has done in invading Ukraine” (as reported by Ryan and Timsit 2022)(2). To minimize ambiguity, we maintain the following distinction in terminology: (1) “economic impact” (or just “impact”) will refer to the economic damage and costs of sanctions, and (2) “political success” (or just “success”) will refer to sanctions’ capability to achieve their announced political objectives. At the most basic level, our understanding of sanctions processes suggests that these notions of effectiveness are connected and that both are important: sanctions are intended to impose economic costs on the target who is supposed to be persuaded to alter its behavior in order to avoid paying those costs. However, it seems unwise to presume either that significant impact leads to success or that lack of success implies little previous impact. Furthermore, advances in our understanding of sanctions processes require that we account for the interconnections between these disciplinary differences. Economic Impact of Sanctions: To quantify these effects, scholars have used different datasets and a variety of econometric methods. Morgan I 13 Methods: Four general conclusions have emerged in the related literature.* First, the impact of sanctions on various economic agents (firms and individuals), sectors, and specific activities in target states has been negative and significant. Second, economic sanctions have had strong negative effects on the overall performance of the sanctioned states - including trade, foreign direct investment, growth, poverty, and political stability. Third, the effects of sanctions on economic development, trade flows, foreign direct investment, and growth are long-lasting and often persist even after sanctions are lifted. Fourth, the effects of sanctions can be very heterogeneous depending on their type (for example, trade versus financial sanctions or complete versus partial sanctions), on whether they are imposed unilaterally or multilaterally (for example, UN versus US sanctions), and on the specifics of individual cases. Thus, models that impose common sanction effects across the various sanction dimensions noted earlier often mask the presence of very significant heterogeneity. >Sanctions, >Sanctions consequences, >Sanctions debate, >Sanctions effectiveness, >Sanctions evasion, >Sanctions history, >Sanctions policies, >Sanctions theory, >Trade sanctions, >Financial sanctions. * We refer the reader to Felbermayr et al. (2021)(3) and van Bergeijk (2021)(4) for a review and a compilation of recent applied work on the economic impact of sanctions, respectively. For a more extensive set of references, see Morgan, Syropoulos, and Yotov (2022)(5). 1. Hufbauer, Gary C., and Euijun Jung. 2020. “What’s New in Economic Sanctions?” European Economic Review 130: 103572. 2. Ryan, Missy, and Annabelle Timsit. 2022. “U.S. Wants Russian Military ‘Weakened’ from Ukraine Invasion, Austin Says.” Washington Post, April 25. https://www.washingtonpost.com/world/2022/04/25/ russia-weakened-lloyd-austin-ukraine-visit/. 3. Felbermayr, Gabriel, T. Clifton Morgan, Constantinos Syropoulos, and Yoto V. Yotov. 2021. “Understanding Economic Sanctions: Interdisciplinary Perspectives on Theory and Evidence.” European Economic Review 135: 103720. 4. van Bergeijk, Peter A. G. 2021. Research Handbook on Economic Sanctions. Cheltenham, UK: Edward Elgar Publishing. 5. Morgan, T. Clifton, Constantinos Syropoulos, and Yoto V. Yotov. 2022. “Economic Sanctions: Evolution, Consequences, and Challenges.” Drexel University, School of Economics Working Paper Series 2022-12._____________Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments The note [Concept/Author], [Author1]Vs[Author2] or [Author]Vs[term] resp. "problem:"/"solution:", "old:"/"new:" and "thesis:" is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition. |
Syropoulos, Constantinos Morgan I T. Clifton Morgan Constantinos Syropoulos Yoto V. Yotov, "Economic Sanctions: Evolution, Consequences, and Challenges." Journal of Economic Perspectives 37 (1): 3–30. 2023 |
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