The impacts of financial sanctions on policy space: the cases of Iran and Russia

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Tezin Türü: Yüksek Lisans

Tezin Yürütüldüğü Kurum: Orta Doğu Teknik Üniversitesi, İktisadi ve İdari Bilimler Fakültesi, İktisat Bölümü, Türkiye

Tezin Onay Tarihi: 2017

Öğrenci: GÖZDE CUNDU KAYA

Danışman: HASAN CÖMERT

Özet:

As a foreign policy instrument, economic sanctions intend to change the current policies of the target and to persuade the target to implement policies in accordance with the form that is imputed appropriate by sanctioning parties. To that end, they aim to narrow or to destroy the policy space of the target by using commercial and financial channels. With the globalizing world order, sanctions have evolved and have begun to be implemented using more financial channels. This thesis aims to reveal the impacts of financial sanctions on the policy space. For that purpose, the cases of Iran and Russia are examined, and separated into different episodes, then the dominant sanction mechanism of each episode is revealed. There are two basic findings of this thesis. First, sanctions have gained a financial dimension with the globalization and financialization. That finding is observed both in Iran and Russia. Second, financial sanctions substantially narrow the policy space of the target and cause great damage to the target's economy.