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Title: | On the welfare and employment effects of economic sanctions |
Authors: | Black, P.A.![]() Cooper, H. |
Year: | 1987 |
Periodical: | South African Journal of Economics |
Volume: | 55 |
Issue: | 1 |
Pages: | 1-15 |
Language: | English |
Geographic term: | South Africa |
Subjects: | employment economic sanctions social welfare |
External link: | https://doi.org/10.1111/j.1813-6982.1987.tb00150.x |
Abstract: | Purpose is to illustrate how economic sanctions may be expected to affect the level and distribution of welfare in a target country which was trading freely at international prices before sanctions. Both the static and dynamic welfare effects of economic sanctions are considered whitin a general equilibrium model. The paper also examines the employment effects of sanctions within the framework of the neoclassical and classical 'vent for surplus' theories. Finally it draws out the implications of sanctions for the South African economy by utilizing the above theoretical framework. Bibliogr., notes. |