Mental aspects of economic sanctions and Conditionalization of the Iran's economy: Implications for resistance economy

Document Type : Original Article

Author

Assistant Professor & Member of the Faculty of Economics, Management and Administrative Sciences at Semnan University

Abstract

In addition to the direct effects, Economic sanctions indirectly distort the economy by influencing the psychological layers of the society, and its impact is no less than the direct effects. Among the psychological and expected effects of sanctions is the impact on economic markets; So that stimulating the expectations of market players based on an external factor such as sanctions can lead to increased turbulence in the markets and increases economic risk. This article is based on examining the psychological effects of economic sanctions on the foreign exchange market as a central market in Iran's economy and examines the issue of the conditioning of this market in relation to the sanctions. In order to investigate the effect of the psychological aspects of sanctions at different decile levels, the method used in this research is quantile regression, which analyzes the issue using seasonal data of Iran's economy from 2011 to 2021. The obtained results show that the effect of sanctions on exchange rate fluctuations is significant and positive; this means that with the increase in the psychological burden of sanctions, the fluctuations of exchange rate have always increased significantly, and this confirms the Conditionalization of the economy towards foreign issues. This issue has caused the issues related to sanctions toleave their effects on the exchange market, even if they do not actually have any effect, and Iran's economy has faced a higher risk. Finding ways to minimize the psychological aspects of sanctions is one ofthe main suggestions of the current research.

Keywords

Smiley face

References

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Security Horizons
Volume 15, Issue 56 - Serial Number 56
Autumn Quarterly
March 2023
Pages 109-134

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History

  • Receive Date: 24 July 2022
  • Revise Date: 16 February 2023
  • Accept Date: 14 March 2023
  • Publish Date: 22 November 2022

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