History Lessons: Sanctions - Neither War nor Peace

Lance Davis and Stanley Engerman

Journal of Economic Perspectives, 2003, vol. 17, issue 2, 187-197

Abstract: This paper surveys the increasing international use of sanctions over the past century. Sanctions are a form of action taken by one state or by collective action to influence another state to change its behavior, as a substitute for welfare. They generally involve restrictions on foreign trade, either of all goods or of specific commodities. Sanctions have generally been imposed by larger countries on smaller countries. Sanctions have had a mixed success rate, depending on the costs imposed on the targeted nation, their response to these costs, and the impact on the economy and public opinion in other nations.

Date: 2003
Note: DOI: 10.1257/089533003765888502
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