Generate QR code
Open Access
Subscription Access
The world in the maze of sanctions: Ambiguity of empirical evidence
https://doi.org/10.32609/0042-8736-2024-8-5-27
Abstract
The article examines various effects of sanction restrictions on target countries. To achieve this, the results of over 50 academic studies from the past decade regarding the impact of sanctions on different countries are analyzed and structured. This analysis is based on the study of sanction episodes predominantly from the 1980s to 2015. It is noted that sanctions have been extensively employed in the past decade, attributed to the intensification of international competition and increased conflict in global development. It is shown that the effects of sanctions exhibit strong ambiguity, temporal variability, and multidirectionality. Both negative and certain stimulating changes in sanction effects are identified and systematized in the contexts of international trade and foreign direct investment. It is demonstrated that sanctions sometimes act as triggers for structural changes in sub-sanctioned economies, altering their integration into global production. The increasing involvement of various countries in sanction confrontations significantly alters the conditions for national economic policies, oriented towards structural changes and long-term perspectives, primarily for industrial policies. For many countries, the task of formulating industrial policy in line with the logic of restructuring global value chains and their participation becomes relevant. This task is characteristic not only for countries targeted by sanctions but also for sanction-sending countries, for which the reverse sanction effects are even less predictable.
Keywords
sanctions,
trade sanctions,
financial sanctions,
smart sanctions,
Russian economy,
industrial policy,
structural changes
JEL: F51, F63
About the Authors
A. A. Fedyunina
HSE University
Russian Federation
Russian Federation
Anna A. Fedyunina.
Moscow
Yu. V. Simachev
HSE University
Russian Federation
Russian Federation
Yuri V. Simachev.
Moscow
References
1. Vinogradova E. V. (2022). Retorsions, reprisals and sanctions. The counterforce of state sovereignty and interstate pressure measures. Law and State: Theory and Practice, No. 9, pp. 66—86. (In Russian). https://doi.org/10.47643/1815-1337_2022_9_66
2. Vinogradova E. V. (2023). International economic sanctions. Legal analysis. Pravovaya Politika i Pravovaya Zhizn, No. 2, pp. 163—170. (In Russian). https://doi.org/10.24412/1608-8794-2023-2-163-170
3. Kondratiev V., Popov V., Kedrova G. (2022). Industrial policy priorities under industry 4.0. World Eсonomy and International Relations, Vol. 66, No. 3, pp. 73—80. (In Russian). https://doi.org/10.20542/0131-2227-2022-66-3-73-80
4. Kuzyk M. G., Simachev Y. V., Fedyunina A. A., Sergeyeva K. P. (2023). Digitalization of companies as a factor of their adaptation to COVID and sanctions shocks. Russian Management Journal, Vol. 21, No. 4, pp. 481—513. (In Russian). https://doi.org/10.21638/spbu18.2023.402
5. Fedyunina A. A., Simachev Y. V. (2023). Resilience of Russian firms in value chains to the sanction shock. Journal of the New Economic Association, Vol. 3, No. 60, pp. 180—187. (In Russian). https://doi.org/10.31737/22212264_2023_3_180-187
6. Aflatooni A., Ghaderi K., Mansouri K. (2022). Sanctions against Iran, political connections and speed of adjustment. Emerging Markets Review, Vol. 51, article 100889. https://doi.org/10.1016/j.ememar.2022.100889
7. Ahn D. P., Ludema R. D. (2020). The sword and the shield: The economics of targeted sanctions. European Economic Review, Vol. 130, article 103587. https://doi.org/10.1016/j.euroecorev.2020.103587
8. Aiginger K., Rodrik D. (2020). Rebirth of industrial policy and an agenda for the twenty-first century. Journal of Industry, Competition and Trade, Vol. 20, pp. 189—207. https://doi.org/10.1007/s10842-019-00322-3
9. Alhassan A., Sabzehmeidani A. S., Taha A. I., Haseki M. I. (2023). Sanctions and economic growth: Do sanction diversity and level of development matter? Heliyon, Vol. 9, No. 9, pp. 1—12. https://doi.org/10.1016/j.heliyon.2023.e19571
10. Arif I., Rawat A. S., Khan L. (2021). Does terrorism hamper FDI inflows? A pre and post 9/11 analysis. Journal of Economic Studies, Vol. 48, No. 5, pp. 968—980. https://doi.org/10.1108/jes-12-2019-0571
11. Attia H., Grauvogel J. (2023). International sanctions termination, 1990—2018: Introducing the IST dataset. Journal of Peace Research, Vol. 60, No. 4, pp. 709—719. https://doi.org/10.1177/00223433221087080
12. Bapat N. A., Heinrich T., Kobayashi Y., Morgan T. C. (2013). Determinants of sanctions effectiveness: Sensitivity analysis using new data. International Interactions, Vol. 39, No. 1, pp. 79—98. https://doi.org/10.1080/03050629.2013.751298
13. Barry C. M. (2018). Peace and conflict at different stages of the FDI lifecycle. Review of International Political Economy, Vol. 25, No. 2, pp. 270—292. https://doi.org/10.1080/09692290.2018.1434083
14. Bassiry G. R., Dekmejian R. H. (1985). MNCs and the Iranian revolution: An empirical study. Management International Review, Vol. 25, No. 2, pp. 67—75.
15. Biersteker T., van Bergeijk P. A. G. (2015). How and when do sanctions work? The evidence. In: On target? EU sanctions as security policy tools. Paris: European Union Institute for Security Studies, pp. 17—28. https://doi.org/10.2815/710375
16. Biglaiser G., DeRouen Jr. K. (2007). Following the flag: Troop deployment and US foreign direct investment. International Studies Quarterly, Vol. 51, No. 4, pp. 835—854. https://doi.org/10.1111/j.1468-2478.2007.00479.x
17. Biglaiser G., Lektzian D. (2014). The effect of sanctions on US foreign direct investment. Conflict Management and Peace Science, Vol. 31, No. 1, pp. 70—93. https://doi.org/10.1177/0738894213501976
18. Bove V., Di Salvatore J., Nisticт R. (2023). Economic sanctions and trade flows in the neighbourhood. Journal of Law and Economics, Vol. 66, No. 4, pp. 671—697. https://doi.org/10.35188/unu-wider/2021/124-2
19. Bussmann M. (2010). Foreign direct investment and militarized international conflict. Journal of Peace Research, Vol. 47, No. 2, pp. 143—153. https://doi.org/10.1177/0022343309354143
20. Chan S. (2009). Strategic anticipation and adjustment: Ex ante and ex post information in explaining sanctions outcomes. International Political Science Review, Vol. 30, No. 3, pp. 319—338. https://doi.org/10.1177/0192512109105643
21. Chen S. (2017). Profiting from FDI in conflict zones. Journal of World Business, Vol. 52, No. 6, pp. 760—768. https://doi.org/10.1016/j.jwb.2017.06.005
22. Cheratian I., Goltabar S., Farzanegan M. R. (2022). Survival strategies under sanctions: Firm-level evidence from Iran. CESifo Working Paper, No. 9568. https://doi.org/10.2139/ssrn.4033605
23. Christensen G., Miguel E. (2018). Transparency, reproducibility, and the credibility of economics research. Journal of Economic Literature, Vol. 56, No. 3, pp. 920—980. https://doi.org/10.3386/w22989
24. Chupilkin M., Javorcik B., Plekhanov A. (2023). The Eurasian roundabout: Trade flows into Russia through the Caucasus and Central Asia. EBRD Working Paper, No. 276. https://doi.org/10.2139/ssrn.4368618
25. Dai M., Felbermayr G. J., Kirilakha A., Syropoulos C., Yalcin E., Yotov Y. V. (2021). Timing the impact of sanctions on trade. In: van Bergeijk P. A. G. (ed.). Research handbook on economic sanctions. Cheltenham: Edward Elgar, pp. 411—437. https://doi.org/10.4337/9781839102721.00031
26. Demena B. A., Reta A. S., Jativa G. B., Kimararungu P. B., van Bergeijk P. A. (2021). Publication bias of economic sanctions research: A meta-analysis of the impact of trade linkage, duration and prior relations on sanctions success. In: van Bergeijk P. A. G. (ed.). Research handbook on economic sanctions. Cheltenham: Edward Elgar, pp. 125—150. https://doi.org/10.4337/9781839102721.00012
27. Devereaux C., Lawrence R. Z., Watkins M. D. (2006). Case studies in US trade negotiation, Vol. 1: Making the rules. New York: Columbia University Press.
28. Dizaji S. F., van Bergeijk P. (2012). Early phase success and long run failure of economic sanctions: With an application to Iran. Institute of Social Studies Working Paper, No. 544. https://doi.org/10.2139/ssrn.2073475
29. Driffield N., Jones C., Crotty J. (2013). International business research and risky investments, an analysis of FDI in conflict zones. International Business Review, Vol. 22, No. 1, pp. 140—155. https://doi.org/10.1016/j.ibusrev.2012.03.001
30. Duanmu J. L. (2014). State-owned MNCs and host country expropriation risk: The role of home state soft power and economic gunboat diplomacy. Journal of International Business Studies, Vol. 45, pp. 1044—1060. https://doi.org/10.1057/jibs.2014.16
31. Early B. R. (2009). Sleeping with your friends’ enemies: An explanation of sanctions-busting trade. International Studies Quarterly, Vol. 53, No. 1, pp. 49—71. https://doi.org/10.1111/j.1468-2478.2008.01523.x
32. Early B. R. (2012). Alliances and trade with sanctioned states: A study of US economic sanctions, 1950—2000. Journal of Conflict Resolution, Vol. 56, No. 3, pp. 547—572. https://doi.org/10.1177/0022002711420961
33. Ebadi E. (2022). Adapting to sanctions: Evidence from firm response and market reallocation in Iran. Available at SRRN: https://doi.org/10.2139/ssrn.4025431
34. Esfahani M. N., Rasoulinezhad E. (2017). Iran’s trade policy of Asianization and de-Europeanization under sanctions. Journal of Economic Studies, Vol. 44, No. 4, pp. 552—567. https://doi.org/10.1108/jes-05-2016-0101
35. Fang T., Chimenson D. (2017). The internationalization of Chinese firms and negative media coverage: The case of Geely’s acquisition of Volvo cars. Thunderbird International Business Review, Vol. 59, No. 4, pp. 483—502. https://doi.org/10.1002/tie.21905
36. Felbermayr G., Morgan T. C., Syropoulos C., Yotov Y. V. (2021). Understanding economic sanctions: Interdisciplinary perspectives on theory and evidence. European Economic Review, Vol. 135, article 103720. https://doi.org/10.1016/j.euroecorev.2021.103720
37. Felbermayr G., Syropoulos C., Yalcin E., Yotov Y. (2020). On the heterogeneous effects of sanctions on trade and welfare: Evidence from the sanctions on Iran and a new database. School of Economics Working Paper Series, No. 2020-4.
38. Frank J. (2018). The effects of economic sanctions on trade: New evidence from a panel PPML gravity approach. Hohenheim Discussion Papers in Business, Economics and Social Sciences, No. 17-2018.
39. Fuchs A., Klann N. H. (2013). Paying a visit: The Dalai Lama effect on international trade. Journal of International Economics, Vol. 91, No. 1, pp. 164—177. https://doi.org/10.2139/ssrn.1694602
40. Ghasseminejad S., Jahan-Parvar M. R. (2021). The impact of financial sanctions: The case of Iran. Journal of Policy Modeling, Vol. 43, No. 3, pp. 601—621. https://doi.org/10.1016/j.jpolmod.2021.03.001
41. Ghodsi M., Karamelikli H. (2022). The impact of sanctions imposed by the European Union against Iran on their bilateral trade: General versus targeted sanctions. World Trade Review, Vol. 21, No. 1, pp. 33—58. https://doi.org/10.1017/s1474745621000318
42. Gonchar K., Greve M. (2022). The impact of political risk on FDI exit decisions. Economic Systems, Vol. 46, No. 2, article 100975. https://doi.org/10.1016/j.ecosys.2022.100975
43. Gopinath G., Gourinchas P. O., Presbitero A., Topalova P. B. (2024). Changing global linkages: A new cold war? IMF Working Paper Series, No. 2024/076. https://doi.org/10.5089/9798400272745.001
44. Grossman G. M., Helpman E., Lhuillier H. (2023). Supply chain resilience: Should policy promote international diversification or reshoring? Journal of Political Economy, Vol. 131, No. 12, pp. 3462—3496. https://doi.org/10.1086/725173
45. Guidolin M., La Ferrara E. (2007). Diamonds are forever, wars are not: Is conflict bad for private firms? American Economic Review, Vol. 97, No. 5, pp. 1978—1993. https://doi.org/10.1257/aer.97.5.1978
46. Haidar J. I. (2017). Sanctions and export deflection: Evidence from Iran. Economic Policy, Vol. 32, No. 90, pp. 319—355. https://doi.org/10.1093/epolic/eix002
47. Haileamlak A. (2022). Pandemics will be more frequent. Ethiopian Journal of Health Sciences, Vol. 32, No. 2, article 228. https://doi.org/10.4314%2Fejhs.v32i2.1
48. Heilmann K. (2016). Does political conflict hurt trade? Evidence from consumer boycotts. Journal of International Economics, Vol. 99, pp. 179—191. https://doi.org/10.1016/j.jinteco.2015.11.008
49. Holburn G. L., Zelner B. A. (2010). Political capabilities, policy risk, and international investment strategy: Evidence from the global electric power generation industry. Strategic Management Journal, Vol. 31, No. 12, pp. 1290—1315. https://doi.org/10.1002/smj.860
50. Hufbauer G. C., Jung E. (2020). What’s new in economic sanctions? European Economic Review, Vol. 130, article 103572. https://doi.org/10.1016%2Fj.euroecorev.2020.103572
51. Jallat F., Shultz C. J. (2011). Lebanon: From cataclysm to opportunity — Crisis management lessons for MNCs in the tourism sector of the Middle East. Journal of World Business, Vol. 46, No. 4, pp. 476—486. https://doi.org/10.1016/j.jwb.2010.10.008
52. Kaempfer W. H., Lowenberg A. D. (2007). The political economy of economic sanctions. In: Handbook of defense economics, Vol. 2, pp. 867—911. https://doi.org/10.1016/s1574-0013(06)02027-8
53. Kavakli K. C., Chatagnier J. T., Hatipoğlu E. (2020). The power to hurt and the effectiveness of international sanctions. Journal of Politics, Vol. 82, No. 3, pp. 879—894. https://doi.org/10.1086/707398
54. Kolstad I. (2020). Too big to fault? Effects of the 2010 Nobel Peace Prize on Norwegian exports to China and foreign policy. International Political Science Review, Vol. 41, No. 2, pp. 207—223. https://doi.org/10.1177/0192512118808610
55. Kozhanov N., Issaev L. M. (2019). Iran and sanctions: Experience of overcoming and influence on socio-economic development. Asia and Africa Тoday, No. 7, pp. 24—31. https://doi.org/10.31857/s032150750005565-3
56. Kwon O., Syropoulos C., Yotov Y. (2022). Do sanctions affect growth? CESifo Working Paper, No. 9818. https://doi.org/10.2139/ssrn.4154087
57. Le T. H., Bach N. T. (2022). Global sanctions, foreign direct investment, and global linkages: Evidence from global data. Journal of International Trade & Economic Development, Vol. 31, No. 7, pp. 967—994. https://doi.org/10.1080/09638199.2022.2047218
58. Lee H. (2017). Does armed conflict reduce foreign direct investment in the petroleum sector? Foreign Policy Analysis, Vol. 13, No. 1, pp. 188—214. https://doi.org/10.1111/fpa.12079
59. Lektzian D., Biglaiser G. (2013). Investment, opportunity, and risk: Do US sanctions deter or encourage global investment? International Studies Quarterly, Vol. 57, No. 1, pp. 65—78. https://doi.org/10.1111/j.1468-2478.2012.00761.x
60. Lektzian D., Biglaiser G. (2014). The effect of foreign direct investment on the use and success of US sanctions. Conflict Management and Peace Science, Vol. 31, No. 1, pp. 70—93. https://doi.org/10.1177/0738894213501976
61. Li C., Murshed S. M., Tanna S. (2017). The impact of civil war on foreign direct investment flows to developing countries. Journal of International Trade & Economic Development, Vol. 26, No. 4, pp. 488—507. https://doi.org/10.1080/09638199.2016.1270347
62. Li Q. (2008). Foreign direct investment and interstate military conflict. Journal of International Affairs, Vol. 62, No. 1, pp. 53—66.
63. Li Q., Vashchilko T. (2010). Dyadic military conflict, security alliances, and bilateral FDI flows. Journal of International Business Studies, Vol. 41, pp. 765—782. https://doi.org/10.1057/jibs.2009.91
64. Li X., Liu A. Y. (2019). Business as usual? Economic responses to political tensions between China and Japan. International Relations of the Asia-Pacific, Vol. 19, No. 2, pp. 213—236. https://doi.org/10.1093/irap/lcx020
65. Lim D. J., Ferguson V. A. (2022). Informal economic sanctions: The political economy of Chinese coercion during the THAAD dispute. Review of International Political Economy, Vol. 29, No. 5, pp. 1525—1548. https://doi.org/10.1080/09692290.2021.1918746
66. Liu Y., Meyer K. E. (2020). Boundary spanners, HRM practices, and reverse knowledge transfer: The case of Chinese cross-border acquisitions. Journal of World Business, Vol. 55, No. 2, article 100958. https://doi.org/10.1016/j.jwb.2018.07.007
67. McNamara K. R. (2023). Transforming Europe? The EU’s industrial policy and geo-political turn. Journal of European Public Policy, pp. 1—26. https://doi.org/10.1080/13501763.2023.2230247
68. Meyer K. E., Fang T., Panibratov A. Y., Peng M. W., Gaur A. (2023). International business under sanctions. Journal of World Business, Vol. 58, No. 2, article 101426. https://doi.org/10.1016/j.jwb.2023.101426
69. Meyer K. E., Thein H. H. (2014). Business under adverse home country institutions: The case of international sanctions against Myanmar. Journal of World Business, Vol. 49, No. 1, pp. 156—171. https://doi.org/10.1016/j.jwb.2013.04.005
70. Mirkina I. (2018). FDI and sanctions: An empirical analysis of short-and long-run effects. European Journal of Political Economy, Vol. 54, pp. 198—225. https://doi.org/10.1016/j.ejpoleco.2018.05.008
71. Moons S. J., van Bergeijk P. A. (2017). Does economic diplomacy work? A meta-analysis of its impact on trade and investment. World Economy, Vol. 40, No. 2, pp. 336—368. https://doi.org/10.1111/twec.12392
72. Morgan T. C., Bapat N., Krustev V. (2009). The threat and imposition of economic sanctions, 1971—2000. Conflict Management and Peace Science, Vol. 26, No. 1, pp. 92—110. https://doi.org/10.1177/0738894208097668
73. Morgan T. C., Syropoulos C., Yotov Y. V. (2023). Economic sanctions: Evolution, consequences, and challenges. Journal of Economic Perspectives, Vol. 37, No. 1, pp. 3—29. https://doi.org/10.1257/jep.37.1.3
74. Nellis S., Alper A. (2019). U.S.-based chip-tech group moving to Switzerland over trade curb fears. Reuters, November 25. https://www.reuters.com/article/us-usa-china-semiconductors-insight-idUSKBN1XZ16
75. Neuenkirch M., Neumeier F. (2015). The impact of UN and US economic sanctions on GDP growth. European Journal of Political Economy, Vol. 40, pp. 110—125. https://doi.org/10.1016/j.ejpoleco.2015.09.001
76. Nguyen L. Q. T., Ahmed R. (2023). The impact of economic sanctions on foreign direct investment: Empirical evidence from global data. Journal of Economics and Development, Vol. 25, No. 1, pp. 79—99. https://doi.org/10.1108/jed-10-2022-0206
77. Nielsen B. B., Wechtler H., Zheng L. G. (2023). Disasters and international business: Insights and recommendations from a systematic review. Journal of World Business, Vol. 58, No. 4, article 101458. https://doi.org/10.1016/j.jwb.2023.101458
78. Özdamar Ö., Shahin E. (2021). Consequences of economic sanctions: The state of the art and paths forward. International Studies Review, Vol. 23, No. 4, pp. 1646—1671. https://doi.org/10.1093/isr/viab029
79. Park J. S. (2014). The key to the North Korean targeted sanctions puzzle. Washington Quarterly, Vol. 37, No. 3, pp. 199—214. https://doi.org/10.1080/0163660x.2014.978444
80. Peksen D. (2019). When do imposed economic sanctions work? A critical review of the sanctions effectiveness literature. Defence and Peace Economics, Vol. 30, No. 6, pp. 635—647. https://doi.org/10.1080/10242694.2019.1625250
81. Pérez R. L., Kiss H. J. (2012). Do people accurately anticipate sanctions? Southern Economic Journal, Vol. 79, No. 2, pp. 300—321. https://doi.org/10.4284/0038-4038-2011.033
82. Polachek S., Seiglie C., Xiang J. (2007). The impact of foreign direct investment on international conflict. Defence and Peace Economics, Vol. 18, No. 5, pp. 415—429. https://doi.org/10.1080/10242690701455474
83. Pond A. (2017). Economic sanctions and demand for protection. Journal of Conflict Resolution, Vol. 61, No. 5, pp. 1073—1094. https://doi.org/10.1177/0022002715596777
84. Ramos M. A., Ashby N. J. (2013). Heterogeneous firm response to organized crime: Evidence from FDI in Mexico. Journal of International Management, Vol. 19, No. 2, pp. 176—194. https://doi.org/10.1016/j.intman.2013.01.002
85. Rasciute S., Downward P. (2017). Explaining variability in the investment location choices of MNEs: An exploration of country, industry and firm effects. International Business Review, Vol. 26, No. 4, pp. 605—613. https://doi.org/10.1016/j.ibusrev.2016.12.002
86. Rosenberg E., Goldman Z. K., Drezner D., Solomon-Strauss J. (2016). The new tools of economic warfare: Effects and effectiveness of contemporary US financial sanctions. Washington, DC: Center for a New American Security.
87. Rodrik D. (2018). What do trade agreements really do? Journal of Economic Perspectives, Vol. 32, No. 2, pp. 73—90. https://doi.org/10.1257/jep.32.2.73
88. Schneider G., Weber P. M. (2019). Biased, but surprisingly effective: Economic coercion after the cold war. CESifo Forum, Vol. 20, No. 4, pp. 9—13.
89. Scita J. (2022). China—Iran relations through the prism of sanctions. Asian Affairs, Vol. 53, No. 1, pp. 87—105. https://doi.org/10.1080/03068374.2022.2029060
90. Shin G., Choi S. W., Luo S. (2016). Do economic sanctions impair target economies? International Political Science Review, Vol. 37, No. 4, pp. 485—499. https://doi.org/10.1177/0192512115590203
91. Simola H. (2023). What the literature says about the effects of sanctions on Russia. BOFIT Policy Brief, No. 8.
92. Skovoroda R., Goldfinch S., DeRouen K., Buck T. (2019). The attraction of FDI to conflicted states: The counter-intuitive case of US oil and gas. Management International Review, Vol. 59, pp. 229—251. https://doi.org/10.1007/s11575-018-0374-y
93. Soule S. A., Swaminathan A., Tihanyi L. (2014). The diffusion of foreign divestment from Burma. Strategic Management Journal, Vol. 35, No. 7, pp. 1032—1052. https://doi.org/10.1002/smj.2147
94. Sun J., Makosa L., Yang J., Darlington M., Yin F., Jachi M. (2022). Economic sanctions and shared supply chains: A firm-level study of the contagion effects of smart sanctions on the performance of nontargeted firms. European Management Review, Vol. 19, Nо. 1, pp. 92—106. https://doi.org/10.1111/emre.12497
95. Syropoulos C., Felbermayr G. J., Kirikakha A., Yalcin E., Yotov Y. V. (2022). The Global Sanctions Data Base — Release 3: COVID-19, Russia, and multilateral sanctions. CESifo Working Paper, No. 10101. https://doi.org/10.2139/ssrn.4291735
96. Tian N., Da Silva D. L., Liang X., Scarazzato L. (2024). Trends in world military expenditure, 2023. Stockholm: SIPRI. https://doi.org/10.55163/BQGA2180
97. Tocar S. (2018). Determinants of foreign direct investment: A review. Review of Economic and Business Studies, Vol. 11, No. 1, pp. 165—196. https://doi.org/10.1515/rebs-2018-0069
98. Van Bergeijk P. A., van Marrewijk C. (1995). Why do sanctions need time to work? Adjustment, learning and anticipation. Economic Modelling, Vol. 12, No. 2, pp. 75—86. https://doi.org/10.1016/0264-9993(94)00003-n
99. Wang F. (2015). South China sea territorial disputes and Sino-Philippine trade. Economic and Political Studies, Vol. 3, No. 2, pp. 85—111. https://doi.org/10.1080/20954816.2015.11673832
100. Witte C. T., Burger M. J., Ianchovichina E. I., Pennings E. (2017). Dodging bullets: The heterogeneous effect of political violence on greenfield FDI. Journal of International Business Studies, Vol. 48, pp. 862—892. https://doi.org/10.1057/s41267-017-0079-7
101. Witte C. T., Burger M. J., Pennings E. (2020). When political instability devaluates home-host ties. Journal of World Business, Vol. 55, No. 4, article 101077. https://doi.org/10.1016/j.jwb.2020.101077
102. World Bank (2023). What you need to know about how CCDRs estimate climate finance needs. https://www.worldbank.org/en/news/feature/2023/03/13/what-you-need-to-know-about-how-ccdrs-estimate-climate-finance-needs
103. Yang J., Askari H., Forrer J., Zhu L. (2009). How do US economic sanctions affect EU’s trade with target countries? World Economy, Vol. 32, No. 8, pp. 1223—1244. https://doi.org/10.1111/j.1467-9701.2009.01190.x
104. Zou W., Xiong Y. (2023). Does artificial intelligence promote industrial upgrading? Evidence from China. Economic Research—Ekonomska Istraživanja, Vol. 36, No. 1, pp. 1666—1687. https://doi.org/10.1080/1331677X.2022.2092168
Supplementary files
Review
For citations:
Fedyunina A.A., Simachev Yu.V. The world in the maze of sanctions: Ambiguity of empirical evidence. Voprosy Ekonomiki. 2024;(8):5-27. (In Russ.) https://doi.org/10.32609/0042-8736-2024-8-5-27
Views:
927
Email this article 
