A smarter policy for smart sanctions
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This work explores the concept of “smart” sanctions in relation to sanctions’ effectiveness. First part of this thesis argues that financial sanctions are “smart” or “humane” way to conduct foreign policy since the losses directly affect the ruling elite of the target, while preventing harm and suffering of innocent population. The quantitative analysis addresses the question of effectiveness of trade and financial sanctions. The results indicate that financial sanctions when imposed alone and in combination with trade sanctions are effective in achieving policy objective. Since financial sanctions are both effective and humane, what is humane is also effective. Given that “financial combination” reported to be effective as well additional analysis was performed to examine their humanness. The analysis of the study suggests that despite their effectiveness, financial sanctions when used in combination with trade sanctions are not humane. Based on these findings, policy recommendations were proposed in the last chapter.