Externalities of economic sanctions on performance of intra-industry non-sanctioned firms: evidence from Zimbabwe
This paper investigates the effect of targeted economic sanctions by the United States and the European Union on the performance of intra-industry non-sanctioned firms. Using data of non-sanctioned firms listed on the Zimbabwe stock exchange during the period 2009–2018, our regression results show t...
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| Main Authors: | , , , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Wiley
2022
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| Subjects: | |
| Online Access: | https://doi.org/10.1111/sjpe.12290 http://hdl.handle.net/11408/4670 |
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| Summary: | This paper investigates the effect of targeted economic sanctions by the United States and the European Union on the performance of intra-industry non-sanctioned firms. Using data of non-sanctioned firms listed on the Zimbabwe stock exchange during the period 2009–2018, our regression results show that non-sanctioned firms in the same industry as sanctioned firms perform better than ordinary non-sanctioned firms, signalling the positive competitive effect. A mediating test suggests that sanctions increase the market share of non-sanctioned firms in the same industry as sanctioned firms and subsequently increase their performance |
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