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United Nations Sanctions on North Korea's Luxury Goods Imports: Impact and Implications
Author(s) -
Jeong HyungGon
Publication year - 2019
Publication title -
asian economic policy review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.58
H-Index - 20
eISSN - 1748-3131
pISSN - 1832-8105
DOI - 10.1111/aepr.12258
Subject(s) - sanctions , enforcement , international trade , economics , international economics , economic sanctions , security council , development economics , business , political science , law , politics
This article examines the impacts of UN Security Council sanctions on North Korea's banned luxury goods imports from 2004 to 2017 by investigating the bilateral trade flows between North Korea and its 71 trading partner countries. This analysis provides some evidence that the sanctions were effective only for those countries that implemented the sanctions. Overall, it is difficult to conclude that United Nations Resolution 1718, which was mainly targeted to ban luxury goods exports to North Korea, was effective in curtailing North Korea's import of luxury goods for the time period from 2006 to 2007. The article argues that the lack of a clearly defined list of luxury goods and the lack of enforcement are important reasons for the ineffectiveness of the sanctions.