International Interactions · 2015 · 141 citations · 37 references
Social SciencesEconomicsInternational RelationsInternational EconomicsInternational FinanceInternational Political EconomyEconomic SanctionsEconomic StatecraftGlobal FinanceGlobal Political EconomyInternational Financial SanctionsInternational Monetary RelationsCoercive Economic StatecraftCross-border Economic CoercionGlobal Capital MarketsHumanitarian Impact Of SanctionsInternational Security RegimesMonetary SanctionsSanctions
The study situates itself in the current era of economic statecraft, noting that the shift from trade embargoes to targeted financial sanctions offers comparable economic pressure while reducing negative externalities. It seeks to answer three questions: whether sanctions spare civilian populations from humanitarian harm, how they serve as learning experiences for both targets and senders, and whether U.S.
AbstractThis is the golden age of economic statecraft—and the study of economic statecraft. This is in large part due to the evolution of economic coercion from trade embargoes to targeted financial sanctions. Targeted financial sanctions are attractive because they can generate economic costs similar to those of more comprehensive sanctions, with fewer negative externalities. Over time, however, the intersection of economic sanctions with globalized capital markets will provoke three interesting research questions. First, do financial sanctions spare a target country’s population from negative humanitarian and human rights outcomes? Second, to what extent are financial sanctions an exercise in learning by both targets and senders? Third, will the United States’ use of financial sanctions trigger blowback against US primacy in the international financial system? These last two questions offer the prospect to linking research on economic statecraft with larger questions of international security and global political economy.KEYWORDS: financereserve currencysanctionstrade
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