The political-economic impact of sanctions: a comparative analysis of the cases of Russia and Iran

Peter van Bergeijk*, Sajjad Faraji Dizaji

*Corresponding author for this work

Research output: Chapter/Conference proceedingChapterAcademic

Abstract

This chapter analyses the interaction between economic and political variables paying special attention to how this interaction develops over time. We use a innovative approach to sanctions that provides a dynamic, forward-looking, perspective and deals with the economic and political outcome of sanctions simultaneously. We use Impulse Response Functions to report the main results of a comprehensive set of unrestricted Vector Auto Regression models that we use to analyse how negative oil and gas shocks impact on the economy and politics in Russia and Iran in order to find out differences and agreements between those cases. In both cases we find that the limitation of energy rents can improve political conditions in the short to medium term, but also that the beneficial impact of sanctions is limited as both economic and political behaviour adjust when time passes by.
Original languageEnglish
Title of host publicationInternational Sanctions in Practice
Subtitle of host publicationAn Interdisciplinary Perspective
EditorsAntonio Bultrini, Francesco Guimelli, Clara Portela, Mirko Sossai
PublisherRoutledge (Taylor & Francis Group)
Chapter7
Edition1st Edition
ISBN (Print)9781032481302
Publication statusE-pub ahead of print - 15 Aug 2024

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