The evolution of empirical approaches in assessing the effectiveness of international sanctions

Economic sanctions lead to a redistribution of public welfare, as well as change the political decision-making process, since certain groups in each country lobby their interests, benefiting from sanctions pressure. Empirical models of sanctions analysis are based on the theory of public choice, which allows for a comprehensive assessment of their effectiveness. The results of the analysis showed that a feature of the studies of sanctions wars is the use of fundamental economics and political science, as well as game-theoretic models as a basis for analyzing the complex effect of sanctions. To maximize the effect, the initiator countries should set clear targets, because otherwise the time horizons of the sanctions wars are maximally prolonged and it will be impossible to predict when the targets will be reached.