Journal of Economic Perspectives: Vol. 17 No. 2 (Spring 2003)
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History Lessons: Sanctions - Neither War nor Peace
Davis, Lance, and Stanley Engerman. 2003. "History Lessons: Sanctions - Neither War nor Peace ." Journal of Economic Perspectives, 17(2): 187-197.
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.
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