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Effectiveness and Repercussions of Global Economic Sanctions

Author:

A.W.G.C.N. Wijethunga

Sabaragamuwa University of Sri Lanka, LK
About A.W.G.C.N.
Department of Accountancy and Finance, Faculty of Management Studies
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Abstract

The economic sanctions are not new ways of imposing international pressure on target economies, it has a long history. However, the powerful counties use the economic sanction to cripple the target economies and then pressuring the target counties to compliance with the measures suggested by the powerful nations. It is very obvious fact that the target counties have not obeyed with the world powerful nations to adopt the recommendations enforced by the powerful nations. Rather the target counties develop alliances with the close allies of those counties to combat the effect of the sanctions on their economies. After enforcing sanctions, the countries face severer humanitarian issues due to limited supply of essential goods particularly medicine. The political impact of sanctions seems very moderate or sometimes after the sanctions are imposed further, the affected countries accelerate the horrible behavior after the sanctions. Hence, the economic sanctions are failed to achieve the intended targets of powerful nations. The humanitarian crises are more pervasive side effects than political motives.
How to Cite: Wijethunga, A.W.G.C.N., 2019. Effectiveness and Repercussions of Global Economic Sanctions. Sri Lanka Journal of Economic Research, 7(1), pp.113–133. DOI: http://doi.org/10.4038/sljer.v7i1.43
Published on 01 Dec 2019.
Peer Reviewed

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