Journal article
Economic sanctions and agricultural trade
American journal of agricultural economics, v 106(4), pp 1477-1517
2024
Featured in Collection : UN Sustainable Development Goals @ Drexel
Abstract
Economic sanctions are more popular than ever. But do they affect agricultural trade? Combining two new datasets and capitalizing on the latest developments in the empirical structural gravity literature, we investigate the effects of sanctions on international trade of agricultural products. We find that trade sanctions impede agricultural trade, whereas other sanctions do not show any significant impact. Complete trade sanctions have led to about a 67% decrease in the agricultural trade between the sanctioned and sanctioning countries, or a corresponding tariff equivalent of 25%, and we also obtain significant estimates for partial sanctions. At the industry level, we find substantial heterogeneity depending on the sanctioning and sanctioned countries, the type of sanctions used, and the direction of trade flows. The 2014 sanctions on Russia substantially decreased Russia's agricultural trade, mainly due to reduced trade with the EU but also due to reduced trade with other countries. Although no definitive evidence exists that sanctions alter the actions of governments of receiving countries, this paper provides broad evidence that sanctions hamper agrifood trade and hurt producers, consumers, and real output.
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Details
- Title
- Economic sanctions and agricultural trade
- Creators
- Mario Larch - University of BayreuthJeff Luckstead - Washington State UniversityYoto V. Yotov - Drexel University
- Publication Details
- American journal of agricultural economics, v 106(4), pp 1477-1517
- Publisher
- Wiley
- Resource Type
- Journal article
- Language
- English
- Academic Unit
- Economics (School of Economics)
- Web of Science ID
- WOS:001226798300001
- Scopus ID
- 2-s2.0-85193491416
- Other Identifier
- 991021880615504721
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- Collaboration types
- Domestic collaboration
- International collaboration
- Web of Science research areas
- Agricultural Economics & Policy
- Economics