- Dawid Walentek University of Warsaw
Scholars have argued whether democratic peace also holds in the realm of economic sanctions — whether there is an economic peace. Substantial amounts of evidence have been gathered both for and against economic peace and findings have been extremely sensitive to changes in research design. This article provides a new insight, with the use of the updated TIES data set and improved methodology, into the topic of economic peace. It find that democracies are more likely to issue economic sanctions and that there is no economic peace. In fact, democracies are more likely to sanction one another. The article indicate that lack of economic peace is consistent with the public choice approach to economic sanctions. It also argue that the exercise of power among democracies has been rechannelled to economic coercion.
The new version is more focused on the economic peace literature. No changes in the results in comparison to previous versions.