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The impacts of economic sanctions on food (prices) security : evidence from targeted countries
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0378-5920; 1467-9701
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The world economy, 2025, OnlineFirst
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AFESORGBOR, Sylvanus Kwaku, KORNHER, Lukas, SANTERAMO, Fabio Gaetano, The impacts of economic sanctions on food (prices) security : evidence from targeted countries, The world economy, 2025, OnlineFirst - https://hdl.handle.net/1814/92922
Abstract
Our paper examined the impact of economic sanctions on food prices and security. Anecdotal evidence suggests that food security is threatened in nations subject to sanctions. However, the causal link has not been proven. We employ a two-way fixed-effects approach and leverage the entropy balancing technique to ascertain the existence of a causal link. Our analysis relies on the Global Sanctions Database for sanctions and the FAOSTAT database for food security proxies: food prices and prevalence of undernourishment (PoU). Sanctions increase food prices: during the sanctions period, real food prices are higher by 1.24 per-centage points compared to the non-sanctions period. Although the increase in food prices is marginal, overall food security is threatened, as the PoU is 2.1 percentage points higher during sanctions compared to periods without sanctions.
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Published online: 16 June 2025
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Published version of EUI RSC WP 2024/24
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This article was published Open Access with the support from the EUI Library through the CRUI - Wiley Transformative Agreement (2024-2027)