The Impact of UN and US Economic Sanctions on GDP Growth
Florian Neumeier () and
Matthias Neuenkirch ()
MAGKS Papers on Economics from Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung)
In this paper, we empirically assess how economic sanctions imposed by the UN and the US affect the target states' GDP growth. Our sample includes 68 countries and covers the period 1976-2012. We find that sanctions imposed by the UN have a statistically and economically significant influence on economic growth, but that the effect of US sanctions is less clear. On average, the imposition of UN sanctions decreases the target state's real per capita GDP growth rate by 2.3-3.5 percentage points (pp). Comprehensive UN economic sanctions, that is, embargoes affecting nearly all economic activity, trigger a reduction in GDP growth by more than 5 pp.
Keywords: Economic growth; economic sanctions; United Nations; United States. (search for similar items in EconPapers)
JEL-codes: F43 F51 F52 F53 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ger and nep-gro
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Journal Article: The impact of UN and US economic sanctions on GDP growth (2015)
Working Paper: The Impact of UN and US Economic Sanctions on GDP Growth (2015)
Working Paper: The Impact of UN and US Economic Sanctions on GDP Growth (2014)
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Persistent link: https://EconPapers.repec.org/RePEc:mar:magkse:201424
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