The role of economic policy uncertainty on resilience and economic development in countries under US economic sanctions
Subject Areas :Puria Khaksar 1 , Somayeh Najjarghabel 2 *
1 -
2 - PhD in Urban and Regional Economics, Department of Economic Development, University of Tabriz, Tabriz, Iran.
Keywords: Uncertainty, Economic Policy, Resilience, Economic Development, Sanctions,
Abstract :
Economic sanctions, by creating uncertainty in economic policies, have a significant impact on the growth and economic development of target countries. This research seeks to investigate how the uncertainty arising from sanctions reduces the ability of sanctioned countries to grow and withstand economic crises. This research is applied in terms of its purpose and descriptive in terms of its method, and the data is panel data. The statistical population of the study includes countries subject to US economic sanctions, including Iran, Syria, Cuba, and Venezuela, in the period 2000 to 2022. The research data was collected from the World Bank website. The findings show that economic policy uncertainty has a significant and negative impact on economic growth and resilience. The results show that an increase in monetary policy uncertainty leads to a decrease in economic growth and resilience. Our research shows that the economy grows better in the calm sea of policymaking. The more uncertainty there is in monetary policy, the more the economy is exposed to economic storms.
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