In recent years, economic sanctions have increasingly become ‘the tool of choice’ in responses to international political challenges related to geo-political conflicts. But are sanctions successful in achieving their purported objectives? And what are the economic costs of sanctions in a world that is increasingly interconnected with global value-chains and multinational enterprises? This column introduces a new dataset of economic sanctions that covers all bilateral, multilateral, and plurilateral sanctions in the world from 1950 to 2016 that can be utilised to analyse sanctions policies.
- international trade