The use of economic sanctions as a foreign policy tool dates back to the Megarian decree of 432 BC,but has long been controversial.Economic sanctions are commonly employed by governments as a coercive tool to adjust t...The use of economic sanctions as a foreign policy tool dates back to the Megarian decree of 432 BC,but has long been controversial.Economic sanctions are commonly employed by governments as a coercive tool to adjust the behavior of a state actor that is in violation of international behavior norms,yet there remains concern as to the effectiveness of applying economic sanctions and the extent to which sanctions should be applied.Further questions arise regarding both the viability and morality of sanctions.This paper will examine case studies to determine the moral,economic,and political impact of imposing sanctions on state actors.In doing so,this paper will specifically examine the economic sanctions applied to South Africa,Iran,and Crimea.It will examine the application of sanctions and the effectiveness in achieving established foreign policy goals,while also analyzing the impact on innocents to determine the ethical implications of sanctions.展开更多
In 2022,the United States stepped up its sanctions on Russia.Most notably,it restricted the flow of the Russian Central Bank's foreign exchange(forex)assets,using financial administrative power as a source of stra...In 2022,the United States stepped up its sanctions on Russia.Most notably,it restricted the flow of the Russian Central Bank's foreign exchange(forex)assets,using financial administrative power as a source of strategic leverage.This move should have reduced the appeal of US dollar assets but in reality has not accelerated as expected the decline of the greenback as a store of value.The US dollar's share of global forex reserves increased instead of decreased during 2022 and 2023.Despite the rise of economic costs caused by tightened US financial sanctions,countries that recognize the geopolitical role of the United States have further accepted the dollar's international status;their continued willingness to live with the dollar's“security premium”has given a fillip to the US dollar in the short term,boosting its appeal as a reserve currency.Meanwhile,de-dollarization of forex reserves has yet to reach a sufficient scale,thus falling short of significantly challenging the dollar's reign.From a longer-term perspective,as economic and security conditions shift,countries that accept the dollar's international role or seek de-dollarization may change their choices.As a result,four possible scenarios may arise:(i)the preeminence of the US dollar remains unthreatened;(ii)the international monetary system splits into blocs;(iii)the international monetary system fragments;and(iv)the dollar loses its throne.The author believes that the last scenario is the most likely outcome.展开更多
Since the Crimean crisis, the US has continuously tightened financial sanctions on Russia. In the short term, this doesn't appear to be working very effectively, but in the long run, it has indeed had an irreversi...Since the Crimean crisis, the US has continuously tightened financial sanctions on Russia. In the short term, this doesn't appear to be working very effectively, but in the long run, it has indeed had an irreversible impact on the Russian economy. Though the US has repeatedly upgraded its sanction plans, four puzzles have long remained unsolved: appropriate sanctions have avoided a humanitarian crisis, but raised moral dilemmas; actual enforcement of sanctions is getting more and more difficult; EU cooperation with the US is vital, but the two regions more often than not play different tunes; and the frequent use of sanctions weakens US legitimacy and integrity, leading to a degradation of the sanction mechanism. Sanctions have continued to be implemented since President Trump took office, but with some new adjustments.展开更多
In this paper, we analyze direct and indirect effects of economic sanctions on I. R. Iran’s economic growth from 1979 to 2012 focusing on the external sector of the economy. Our data for variables except for sanction...In this paper, we analyze direct and indirect effects of economic sanctions on I. R. Iran’s economic growth from 1979 to 2012 focusing on the external sector of the economy. Our data for variables except for sanction are derived from 1966 to 2012 and a dummy variable is used for each sanction’s beginning years. The designed model is based on the endogenous growth models in which we analyze the effects by 2SLS econometric method. Our findings indicate that economic sanctions have not directly affected Iran’s economic growth so much. These effects have been indirect through restricting total imports, capital goods imports, imports of intermediate goods and primary products and also the export leading to decreased economic growth of the country.展开更多
Environmental,Social,and Governance(ESG)concerns have gained centrality in the airline industry’s strategic and regulatory landscape.While prior research has explored the effect of voluntary ESG disclosures on firm v...Environmental,Social,and Governance(ESG)concerns have gained centrality in the airline industry’s strategic and regulatory landscape.While prior research has explored the effect of voluntary ESG disclosures on firm valuation,the market impact of regulatory ESG sanctions remains underexamined-particularly in sectors with high regulatory scrutiny like aviation.This study investigates stock market responses to 45 ESG-related enforcement actions issued by EU and UK regulators against 15 publicly listed airlines between 2000 and 2024.Using a standard event study methodology,we find significant negative abnormal returns,with cumulative losses exceeding-3.5%in the[-5,+5]event window.Governance-related sanctions trigger the most severe investor responses,while social sanctions,though more frequent,have a more moderate impact.A clear temporal decay effect is also observed:the longer the delay between misconduct and public disclosure of the sanction,the smaller the market reaction-indicating information leakage and gradual price adjustment.This study adds new evidence on how ESG sanctions affect airline valuations,showing that compliance and transparency matter financially in a heavily regulated industry,like aviation.展开更多
Economic sanctions have emerged as critical instruments of geopolitical strategy, with significant ramifications for global energy markets, innovation trajectories, and the transition to sustainable energy systems. Th...Economic sanctions have emerged as critical instruments of geopolitical strategy, with significant ramifications for global energy markets, innovation trajectories, and the transition to sustainable energy systems. This study offers a qualitative synthesis of literature and case studies spanning 2000–2025 to evaluate how sanctions affect major energy producers such as Russia, Iran, and Venezuela. The analysis reveals that sanctions disrupt energy supply chains, restrict access to foreign investment and advanced technologies, and constrain integration into global financial systems. Simultaneously, they trigger adaptive responses, including domestic innovation efforts, clandestine export practices, and new geopolitical alliances. A key finding is the paradox of sanctions in shaping energy transitions. While sender states, particularly in Europe, have accelerated renewable energy adoption to reduce their dependence on sanctioned fossil fuels, target states often experience technological stagnation and entrenched reliance on conventional hydrocarbons. Notably, sanctions have stimulated localized innovation in some contexts, such as Iran's refining technologies and Venezuela's shadow fleet logistics. The study also identifies gaps in current scholarship, especially regarding the long-term governance implications of sanctions, the emergence of parallel energy markets aligned with BRICS and OPEC+, and the uneven global distribution of green investments. By integrating political realism and social constructivism, the research highlights the dual character of sanctions as both coercive instruments and inadvertent catalysts of systemic energy change. These findings call for a more nuanced policy approach that balances geopolitical objectives with sustainable energy security.展开更多
The sanctions imposed by the G10 countries on financial institutions in Russia,including on its central bank,mil come under scrutiny by emerging market central banks.This will help them build appropriate safeguards ag...The sanctions imposed by the G10 countries on financial institutions in Russia,including on its central bank,mil come under scrutiny by emerging market central banks.This will help them build appropriate safeguards against disruptions to cross-border transactions and revise their investment mandates to reduce the risk of reserve asset freezes.Building new1 financial market infrastructure and cross-border payment systems,or strengthening existing ones,will become the priority of emerging global powers.The goal will be to build systems that support democratic governance mechanisms,have oversight arrangements involving the central banks of trusted countries,and promote fair and safe access to clearing and settlement under well-defined policy guidelines.The use of alternatives to the US dollar as the invoicing currency in international trade will gather momentum.Markets for energy and other commodities will be the change drivers.China has an important role to play.展开更多
Purpose:This article examines the adverse impact of international economic sanctions on pedagogy.The article considers the contemporary times as a period of misinformation,false news,and untruths.Utilizing anti-hegemo...Purpose:This article examines the adverse impact of international economic sanctions on pedagogy.The article considers the contemporary times as a period of misinformation,false news,and untruths.Utilizing anti-hegemonic literature,international economic sanctions are viewed as neoliberalism's instrument of coercion,a Western weapon used to enforce Western values on thosewithdifferentperceptions toward thefreemarket system.Design/Approach/Methods:This article utilizes critical scholarship to unmask authoritarian neoliberalism and a scoping review of sanctioned societies.Critical analytics are deployedto interpret and make sense of the dominant educational policy framework that appears to be against diversity.Findings:Neoliberalism has caused a crisis in pedagogy.Education is under siege as academics and scientific evidence are being disregarded.The call is for pedagogues from all over the world to continue to avail evidence to power by practicing critical education.Literature is utilized to propose critical pedagogy when scientific evidence is disputed,and non-Western epistemologies are considered anachronous.Originality/Value:Linking sanctions and neoliberalism is relativelynovel,as is the contribution of the same lenses to authoritarian neoliberalism.The assault on divergent epistemologies is critical,and the defense of critical scholarship is every academic's duty.The article joins conversations on the neoliberal assault on education and society.展开更多
This article investigates the macroeconomic consequences of foreign asset-freezing sanctions,a tool utilized by several Western nations amid recent geopolitical tensions.Specifically,it examines the repercussions of s...This article investigates the macroeconomic consequences of foreign asset-freezing sanctions,a tool utilized by several Western nations amid recent geopolitical tensions.Specifically,it examines the repercussions of such sanctions on open economies,finding that they may experience a sharp recession and currency crisis.To quantify the impact,we develop a new Keynesian dynamic stochastic general equilibrium model with financial frictions and an asset-freezing channel for an open economy.We also calibrate our model to capture the unique structures of the Russian economy.The quantitative analysis of the model demonstrates that an abrupt asset-freezing sanction would lead to large output losses and high inflation increases.Our counterfactual examination reveals that higher elasticity of import substitution and lower elasticity of export substitution could alleviate the impact of foreign sanctions,whereas more aggressive monetary policy may have positive but limited stabilization effects.Notably,the monetary authority must navigate a trade-off between stabilizing output and managing inflation resulting from the cash-in-advance channel.展开更多
The U.S.Treasury Department said on August 31 that it would impose new sanctions on the DPRK. The new sanctions concern four individuals and eight entities. The department said three individuals and five entities were...The U.S.Treasury Department said on August 31 that it would impose new sanctions on the DPRK. The new sanctions concern four individuals and eight entities. The department said three individuals and five entities were designated as supporting the DPRK’s nuclear program,while the rest were involved in "facilitating the DPRK’s trafficking in arms and related material,procurement of luxury goods,and engagement in illicit activities."展开更多
文摘The use of economic sanctions as a foreign policy tool dates back to the Megarian decree of 432 BC,but has long been controversial.Economic sanctions are commonly employed by governments as a coercive tool to adjust the behavior of a state actor that is in violation of international behavior norms,yet there remains concern as to the effectiveness of applying economic sanctions and the extent to which sanctions should be applied.Further questions arise regarding both the viability and morality of sanctions.This paper will examine case studies to determine the moral,economic,and political impact of imposing sanctions on state actors.In doing so,this paper will specifically examine the economic sanctions applied to South Africa,Iran,and Crimea.It will examine the application of sanctions and the effectiveness in achieving established foreign policy goals,while also analyzing the impact on innocents to determine the ethical implications of sanctions.
文摘In 2022,the United States stepped up its sanctions on Russia.Most notably,it restricted the flow of the Russian Central Bank's foreign exchange(forex)assets,using financial administrative power as a source of strategic leverage.This move should have reduced the appeal of US dollar assets but in reality has not accelerated as expected the decline of the greenback as a store of value.The US dollar's share of global forex reserves increased instead of decreased during 2022 and 2023.Despite the rise of economic costs caused by tightened US financial sanctions,countries that recognize the geopolitical role of the United States have further accepted the dollar's international status;their continued willingness to live with the dollar's“security premium”has given a fillip to the US dollar in the short term,boosting its appeal as a reserve currency.Meanwhile,de-dollarization of forex reserves has yet to reach a sufficient scale,thus falling short of significantly challenging the dollar's reign.From a longer-term perspective,as economic and security conditions shift,countries that accept the dollar's international role or seek de-dollarization may change their choices.As a result,four possible scenarios may arise:(i)the preeminence of the US dollar remains unthreatened;(ii)the international monetary system splits into blocs;(iii)the international monetary system fragments;and(iv)the dollar loses its throne.The author believes that the last scenario is the most likely outcome.
文摘Since the Crimean crisis, the US has continuously tightened financial sanctions on Russia. In the short term, this doesn't appear to be working very effectively, but in the long run, it has indeed had an irreversible impact on the Russian economy. Though the US has repeatedly upgraded its sanction plans, four puzzles have long remained unsolved: appropriate sanctions have avoided a humanitarian crisis, but raised moral dilemmas; actual enforcement of sanctions is getting more and more difficult; EU cooperation with the US is vital, but the two regions more often than not play different tunes; and the frequent use of sanctions weakens US legitimacy and integrity, leading to a degradation of the sanction mechanism. Sanctions have continued to be implemented since President Trump took office, but with some new adjustments.
文摘In this paper, we analyze direct and indirect effects of economic sanctions on I. R. Iran’s economic growth from 1979 to 2012 focusing on the external sector of the economy. Our data for variables except for sanction are derived from 1966 to 2012 and a dummy variable is used for each sanction’s beginning years. The designed model is based on the endogenous growth models in which we analyze the effects by 2SLS econometric method. Our findings indicate that economic sanctions have not directly affected Iran’s economic growth so much. These effects have been indirect through restricting total imports, capital goods imports, imports of intermediate goods and primary products and also the export leading to decreased economic growth of the country.
文摘Environmental,Social,and Governance(ESG)concerns have gained centrality in the airline industry’s strategic and regulatory landscape.While prior research has explored the effect of voluntary ESG disclosures on firm valuation,the market impact of regulatory ESG sanctions remains underexamined-particularly in sectors with high regulatory scrutiny like aviation.This study investigates stock market responses to 45 ESG-related enforcement actions issued by EU and UK regulators against 15 publicly listed airlines between 2000 and 2024.Using a standard event study methodology,we find significant negative abnormal returns,with cumulative losses exceeding-3.5%in the[-5,+5]event window.Governance-related sanctions trigger the most severe investor responses,while social sanctions,though more frequent,have a more moderate impact.A clear temporal decay effect is also observed:the longer the delay between misconduct and public disclosure of the sanction,the smaller the market reaction-indicating information leakage and gradual price adjustment.This study adds new evidence on how ESG sanctions affect airline valuations,showing that compliance and transparency matter financially in a heavily regulated industry,like aviation.
文摘Economic sanctions have emerged as critical instruments of geopolitical strategy, with significant ramifications for global energy markets, innovation trajectories, and the transition to sustainable energy systems. This study offers a qualitative synthesis of literature and case studies spanning 2000–2025 to evaluate how sanctions affect major energy producers such as Russia, Iran, and Venezuela. The analysis reveals that sanctions disrupt energy supply chains, restrict access to foreign investment and advanced technologies, and constrain integration into global financial systems. Simultaneously, they trigger adaptive responses, including domestic innovation efforts, clandestine export practices, and new geopolitical alliances. A key finding is the paradox of sanctions in shaping energy transitions. While sender states, particularly in Europe, have accelerated renewable energy adoption to reduce their dependence on sanctioned fossil fuels, target states often experience technological stagnation and entrenched reliance on conventional hydrocarbons. Notably, sanctions have stimulated localized innovation in some contexts, such as Iran's refining technologies and Venezuela's shadow fleet logistics. The study also identifies gaps in current scholarship, especially regarding the long-term governance implications of sanctions, the emergence of parallel energy markets aligned with BRICS and OPEC+, and the uneven global distribution of green investments. By integrating political realism and social constructivism, the research highlights the dual character of sanctions as both coercive instruments and inadvertent catalysts of systemic energy change. These findings call for a more nuanced policy approach that balances geopolitical objectives with sustainable energy security.
文摘The sanctions imposed by the G10 countries on financial institutions in Russia,including on its central bank,mil come under scrutiny by emerging market central banks.This will help them build appropriate safeguards against disruptions to cross-border transactions and revise their investment mandates to reduce the risk of reserve asset freezes.Building new1 financial market infrastructure and cross-border payment systems,or strengthening existing ones,will become the priority of emerging global powers.The goal will be to build systems that support democratic governance mechanisms,have oversight arrangements involving the central banks of trusted countries,and promote fair and safe access to clearing and settlement under well-defined policy guidelines.The use of alternatives to the US dollar as the invoicing currency in international trade will gather momentum.Markets for energy and other commodities will be the change drivers.China has an important role to play.
文摘Purpose:This article examines the adverse impact of international economic sanctions on pedagogy.The article considers the contemporary times as a period of misinformation,false news,and untruths.Utilizing anti-hegemonic literature,international economic sanctions are viewed as neoliberalism's instrument of coercion,a Western weapon used to enforce Western values on thosewithdifferentperceptions toward thefreemarket system.Design/Approach/Methods:This article utilizes critical scholarship to unmask authoritarian neoliberalism and a scoping review of sanctioned societies.Critical analytics are deployedto interpret and make sense of the dominant educational policy framework that appears to be against diversity.Findings:Neoliberalism has caused a crisis in pedagogy.Education is under siege as academics and scientific evidence are being disregarded.The call is for pedagogues from all over the world to continue to avail evidence to power by practicing critical education.Literature is utilized to propose critical pedagogy when scientific evidence is disputed,and non-Western epistemologies are considered anachronous.Originality/Value:Linking sanctions and neoliberalism is relativelynovel,as is the contribution of the same lenses to authoritarian neoliberalism.The assault on divergent epistemologies is critical,and the defense of critical scholarship is every academic's duty.The article joins conversations on the neoliberal assault on education and society.
基金the National Natural Science Foundation of China(Nos.72150003 and 72125007).
文摘This article investigates the macroeconomic consequences of foreign asset-freezing sanctions,a tool utilized by several Western nations amid recent geopolitical tensions.Specifically,it examines the repercussions of such sanctions on open economies,finding that they may experience a sharp recession and currency crisis.To quantify the impact,we develop a new Keynesian dynamic stochastic general equilibrium model with financial frictions and an asset-freezing channel for an open economy.We also calibrate our model to capture the unique structures of the Russian economy.The quantitative analysis of the model demonstrates that an abrupt asset-freezing sanction would lead to large output losses and high inflation increases.Our counterfactual examination reveals that higher elasticity of import substitution and lower elasticity of export substitution could alleviate the impact of foreign sanctions,whereas more aggressive monetary policy may have positive but limited stabilization effects.Notably,the monetary authority must navigate a trade-off between stabilizing output and managing inflation resulting from the cash-in-advance channel.
文摘The U.S.Treasury Department said on August 31 that it would impose new sanctions on the DPRK. The new sanctions concern four individuals and eight entities. The department said three individuals and five entities were designated as supporting the DPRK’s nuclear program,while the rest were involved in "facilitating the DPRK’s trafficking in arms and related material,procurement of luxury goods,and engagement in illicit activities."
