Economics

The futility of economic sanctions in a globalized and interdependent world: a data-driven game theoretical study

Y. Ye and Q. Zhang

Discover how game theory and real-world international trade data unveil the dynamics of economic sanctions and counter-sanction measures in this insightful research conducted by Yang Ye and Qingpeng Zhang. Their findings reveal the complexities of international trade relationships and advocate for cooperation as the key to effective solutions.

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Playback language: English

Index

Abstract

This research uses a game theoretical framework and real-world international trade data to assess the effectiveness of economic sanctions and counter-sanction measures. Findings suggest that expanded international trade empowers large economies to weaponize interdependence, while imbalanced trade relationships create sanction risk for vulnerable economies. Complete decoupling is ineffective, and bloc-type collective retaliation is often impractical. Promoting cooperation and dialogue is deemed the most effective solution.

Publisher

Humanities and Social Sciences Communications

Published On

Aug 13, 2024

Authors

Yang Ye, Qingpeng Zhang

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