Theory of Sanctions and Experience of Overcoming the Sanctions Regime as Exemplified by North Korea
DOI:
https://doi.org/10.20397/2177-6652/2024.v24i3.2955Resumo
The article considers aspects of economic sanctions, including their content, goals, and reasons for use despite relatively low effectiveness. As exemplified by North Korea, the article shows how sanctions are implemented to halt the national nuclear program. It analyzes the negative impact of UN and US sanctions on North Korea’s economic indicators, which failed to affect the pace and scale of the nuclear and missile weapons development program. The article evaluates the impact of sanctions on global trade, highlighting the externalities that become internalized through shadow institutions serving countries under sanction pressure. This contributes to the erosion of international economic cooperation and hurts global public welfare.
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