Kiel Policy Brief No. 73: Against the backdrop of the Russian annexation of the Crimea European and American political decision-makers are considering restrictions to trade relations with Russia. It is asked to which extent the German economy would...

Economic sanctions are a frequently used tool of foreign policy. Constraining trade flows towards or from the target country is supposed to coerce its government into changing certain policies. However, sanctions constitute an obstacle to trade,...

This paper analyzes how international rules are established and stabilized, i.e. how an international institutional order develops. Rules emerge mainly through learning from negative experience and serve to reduce transaction costs. The paper looks...