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Larch, Mario ; Shikher, Serge ; Syropoulos, Constantinos ; Yotov, Yoto V.:
Quantifying the impact of economic sanctions on international trade in the energy and mining sectors.
In: Economic Inquiry.
Bd. 60
(2022)
Heft 3
.
- S. 1038-1063.
ISSN 1465-7295
DOI: https://doi.org/10.1111/ecin.13077
Abstract
We study the impact of economic sanctions on international trade in the mining sector. We demonstrate that the gravity equation is well-suited to model bilateral trade costs in mining and find that sanctions have been effective in impeding mining trade. Complete trade sanctions have reduced mining trade by about 44% on average. We also document significant heterogeneity in the sanctions effects on mining trade across industries, sanction episodes/cases, depending on the sanctioning and sanctioned countries, the type of sanctions, and the direction of trade. We take a close look at the impact of recent sanctions on Iran and Russia.