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ИД «Финансы и кредит»






Financial Analytics: Science and Experience

Evaluation imposing sanctions: world experience

Vol. 8, Iss. 42, NOVEMBER 2015

Received: 14 August 2015

Accepted: 19 October 2015

Available online: 12 November 2015


JEL Classification: 

Pages: 27-37

Zaernyuk V.M. Russian State Geological Prospecting University, Moscow, Russian Federation

Alavifar A. Russian State University of Tourism and Service, Cherkizovo, Pushkinsky District, Moscow Oblast, Russian Federation

Importance Vulnerability assessment of countries subject to sanctions, including Russia, has recently become particularly relevant.
     Objectives The article investigates the relationship between two variables, i.e. success of sanctions and historical time of the sanctions, as applied to some economic sanctions after World War II.
     Methods We used the findings of foreign scholars who studied the effectiveness of economic sanctions. We conducted a correlation analysis using Pearson's coefficient taking into account the covariance of two variables and assessment of their standard deviation.
     Results The study found that about 70 percent of economic sanctions, which had lasted more than three years, gave no positive effect, without reaching the objectives. In the meantime, sanctions worsen the investment climate, restrict international trade and business investment activity in most countries.
     Conclusions and Relevance Considering rather tough sanctions towards Russia, internal, external and foreign political activities can give stable and positive results to overcome the effects of the sanctions only if elaborate measures for restructuring and modernizing the Russian economy are implemented, and financial and economic and socio-political reforms are consistently put into practice.

Keywords: economic sanctions, strategy, tactics, success


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