Abstract This paper analyzes the role of trade sanctions in the pursuit of political aims. We show that sanctions are mostly ineffective and have adverse distributional consequences. The example of South-Africa, in which case several court processes are pending, serves as an illustration of this...

Abstract In his contribution Carsten Hefeker points out that most of the official arguments concerning the necessity of the Stability and Growth Pact are not convincing. Nevertheless, a mechanism that credibly avoids excessive debts and deficits is needed in most member states. It would be more...