Distinguishing characteristics of degrees of success and failure in economic sanctions episodes
This paper uses 104 episodes from the Hufbauer et al . (1985, 1990) dataset to examine the correlates of classes of outcomes of economic sanctions. The parsimonious equations presented identify the characteristics of sanctions episodes conducive to success rather than marginal success, and the characteristics productive of failure rather than marginal failure. Failure is most likely if there is significant third party assistance to the target, and if the pre-existing trade linkage between sender and target is small. Success is most easily achieved when the objective is not classified as 'modest', and when pre-sanction relations between sender and target are cordial or neutral. The equations presented overcome data and methodological flaws of earlier studies, exhibit reasonable predictive accuracy, and satisfy a battery of tests of statistical significance, hypothesized coefficient sign, goodness of fit, high likelihood and informational efficiency.