Abstract

In this article we use the recent Global Sanctions Database (version 2.0) for two objectives. Starting from the descriptive evidence on the characteristics and effectiveness of sanctions from the Second World War until today, the study proposes an updated (although not exhaustive) review of the most recent academic contributions by experts in economics and political science. From an empirical point of view, the two disciplines use a shared specification of economic and political categories in the available datasets, which favours a stimulating interdisciplinary dialogue. On the other hand, the interaction on the level of pure theory is minor. Furthermore, we offer some evidence related to the second conflict between Russia and Ukraine, started in February 2022, by extrapolating from the past experience, reported in the Global Sanctions Database (up to 2019), on the duration and degree of success of past sanctions aimed at terminating a conflict. The latest sanctions against Russia have been wide and exceptional with respect to previous episodes. However, the past experience for this type of sanctions can provide a reference on what could await us. Only rarely have these types of sanctions, when promoted by multiple countries, been successful in less than the average of about six years.