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The Impact of UN and US Economic Sanctions on GDP Growth

Matthias Neuenkirch () and Florian Neumeier ()

No 138, FIW Working Paper series from FIW

Abstract: 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, first, that sanctions imposed by the UN have a statistically and economically significant influence on economic growth. 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). These adverse effects last for a period of 10 years. Comprehensive UN economic sanctions, that is, embargoes affecting nearly all economic activity, trigger a reduction in GDP growth by more than 5 pp. Second, the effect of US sanctions is much smaller and less distinct. The imposition of US sanctions decreases GDP growth in the target state over a period of 7 years and, on average, by 0.5–0.9 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)
Pages: 35
Date: 2015-01
New Economics Papers: this item is included in nep-gro
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Related works:
Journal Article: The impact of UN and US economic sanctions on GDP growth (2015) Downloads
Working Paper: The Impact of UN and US Economic Sanctions on GDP Growth (2014) Downloads
Working Paper: The Impact of UN and US Economic Sanctions on GDP Growth (2014) Downloads
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