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The Effect of Economic Sanctions on the Composition of Iran's Trading Partners

Document Type : Original Article

Authors

1 Assistant Professor of Economics, Department of Economics, Faculty of Science and Technology, Ahl al-Bayt International University (AS), Tehran, Iran

2 Master of Economics, Department of Economics, Faculty of Science and Technology, Ahl al-Bayt International University (AS), Tehran, Iran

3 Master of Business Management, Department of Business Management, Faculty of Science and Technology, Ahl al-Bayt International University (AS), Tehran, Iran

https://doi.org/10.34785/J025.2022.031

Abstract

since the victory of the Iranian Islamic Revolution, various and extensive sanctions have been imposed against Iran. the effect of economic sanctions on Iran's trade and its business partners has been investigated using the generalized least squares method.. The results show that the strong (extensive) economic embargo had a negative effect on the entire foreign trade of Iran. While Iran's foreign trade has been able to continue growing in the shadow of weak (limited) economic sanctions. Extensive and limited sanctions have increased trade between Iran and the countries of the first group. While broad and limited sanctions have reduced the trade of Iran and the countries of the second group. Extensive sanctions have reduced exports and imports, but the effect on exports is greater than on imports. Limited sanctions have not been able to reduce exports and imports. Therefore, economic policy makers should consider the development of trade with neighboring countries in order to manage the effect of economic sanctions.

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References
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Economic Policies and Research
Volume 1, Issue 4
January 2023
Pages 160-191
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