Rustem M. Nureev
Doct. Sci. (Econ.), Financial University under the Government of Russian Federation

Evgeniy G. Busygin
PhD Student, National Research University Higher School of Economics, Moscow, Russia

TERRA ECONOMICUS, 2017, Vol. 15 (no. 3),

p. 56-74
DOI: 10.23683/2073-6606-2017-15-3-56-74

The main purpose of this paper is to analyze the costs of target countries from imposing sanctions on the part of the exporting countries of sanctions.The paper provides a classification of sanctions depending on the purposes of application: sanctions related to regime change; sanctions related to interference in military operations; sanctions related to the weakening of military capabilities; sanctions related to other major policy changes.

The leader in the implementation of the sanctions policy, regardless of the objectives in the period from 1910 to 2000 were the United States. The USSR is among the countries against which sanctions were targetedmost often. It is the developed countries such as the United States, Great Britain, Japan that initiated the introduction of sanctions, while the developing countries were for the most part the countries against which they were imposed.

The problem of effectiveness of imposing sanctions on the example of South Africa, Iraq and Haiti is considered in the work; an analysis of the costs associated with the implementation of sanctions policies against countries such as Cote d’Ivoire, Iraq, Iran, Angola, Liberia, Zimbabwe. The economic situation in the country against which sanctions are directed depends more on the measures taken by the exporting countries than on how many times the sanctions were applied against a particular country. The trade embargo is the most damaging to the economy of the target country, which manifests itself in a decrease in GDP or a slowdown in its growth rates, a reduction in the volume of export-import transactions and investments.

Keywords: history of sanctions; cost-benefit analysis; trade embargo; economic sanctions

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Publisher: Southern Federal University
Founder: Southern Federal University
ISSN: 2073-6606