Do sanctions have any long term effect?

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$tyli$h Executive:
Do sanctions upon an economy have any long term effect?

Please note the word in bold: "Long term". Any sanctions will have short term effect.

CASE STUDY

---------------------------------------------------Iran--------------------------------------------

From Wikipedia:

--- Quote ---After the Iranian Revolution in 1979, the United States ended its economic and diplomatic ties with Iran, banned Iranian oil imports and froze approximately $11 billion of its assets.[235] In 1996, the U.S. Government passed the Iran and Libya Sanctions Act (ILSA) which prohibits U.S. (and non-U.S. companies) from investing and trading with Iran in amounts of than $20 million annually.[236] Since 2000 exceptions to this restriction have been made for items including pharmaceuticals and medical equipment.[237]

Iran's Nuclear Program has been the subject of contention with the West since 2006 over suspicions of Iran's military intentions. This has led the UN Security Council to impose sanctions against select companies linked to the nuclear program, thus furthering the country's economic isolation on the international scene.[20] Sanctions notably bar nuclear, missile and many military exports to Iran and target investments in oil, gas and petrochemicals, exports of refined petroleum products, as well as the Iranian Revolutionary Guard Corps, banks, insurance, financial transactions and shipping.[238]

--- End quote ---

From Wikipedia:

List of countries by GDP: http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)

Economy of Iran: http://en.wikipedia.org/wiki/Economy_of_iran

According to 2010:

Iran is the 18th largest economy in the world by GDP (Purchase power parity measure)

18.7% living below $11/day (2006)[4]

3.1% living below $2/day (2006)[5]

Seventy percent of the Iranians own homes.

Iran is the 12th biggest automaker in the world.

In 1998, the United Nations classified Iran's economy as "semi-developed".

Mobarakeh in Esfahan is Iran's largest steel mill listed on the Tehran Stock Exchange.[76] In recent years, Iran has resumed its drive towards privatization.

The Tehran Stock Exchange has been one of the world's best performing stock exchanges in recent years.[186][187]

http://en.wikipedia.org/wiki/File:TEPIX.PNG

Iran plans to generate 23,000 MWh of electricity through nuclear technology by 2025 to meet its increasing demand for energy.[152]

http://en.wikipedia.org/wiki/File:Iran-electricity.gif

.............. For more, read the whole article on Economy of Iran.

More later. But overall, as far as I can see, sanctions from back in 1979, 1996 and 2006 had very little effect. Rather I would say, positive effect.

As far as oil is concerned, there are other economies which are lagging far behind with similar oil resources. I think I don't have to site examples here.

$tyli$h Executive:
Not to mention the silly Iran-Iraq war which has cost Iran some $500 billion (wikipedia)

........:
I have been to Tehran and Ehwaz and Qum and i can safely say it has the best infrastructure outside Dubai and Doha in MENA region.

Persians are nationalists and are very proud of their ancestry. They do not like to be dictated to and according to them they were the birthplace of civilization.

They had the foundations laid in 1960s and 1970s during Shah's era and It was really easy to have economic growth on such strong foundation.
This is in addition to the fact their girls are H O T. and they have resources.Like LOTS of it.
So really Iran is very different from other countries

You can look at Libya which had to open to the world after sanctions literally destroyed their country.
I have been to Tripoli too and honestly when i went in 2001 it was dead .Not much of economic activity and in 2009 it was like Dubai. Beautiful buildings all around.

$tyli$h Executive:

--- Quote from: ........ on April 24, 2011, 05:49:59 pm ---I have been to Tehran and Ehwaz and Qum and i can safely say it has the best infrastructure outside Dubai and Doha in MENA region.

Persians are nationalists and are very proud of their ancestry. They do not like to be dictated to and according to them they were the birthplace of civilization.

They had the foundations laid in 1960s and 1970s during Shah's era and It was really easy to have economic growth on such strong foundation.
This is in addition to the fact their girls are H O T. and they have resources.Like LOTS of it.
So really Iran is very different from other countries

You can look at Libya which had to open to the world after sanctions literally destroyed their country.
I have been to Tripoli too and honestly when i went in 2001 it was dead .Not much of economic activity and in 2009 it was like Dubai. Beautiful buildings all around.

--- End quote ---

1979 Iranian revolution where tens of thousands were killed

Iran Iraq war lasted for 10 years+. This was AFTER whatever 'foundation' Shah laid. $500 Billion damage to Iran (wiki). So many iranians killed that, as I've heard, Male:Female ratio significantly lowered.

Still got any 'foundations' left?

Another example: Pakistan itself. When inherited from India, had very little resources on its own + not to mention the hostility from their neighbour (india).

In the 60s, under Ayub Khan (and previously, MA Zinnah), despite all the odds, Pakistan emerged as a 'miracle economy'. South korea was following its model. Growth rate was very high, on par of the now other Asian tiger economies (Malaysia/singapore etc).

Some of the biggest roads in Dhaka city (previously, east pakistan) was planned by Ayub khan. The parliament building of BD was constructed in his time. Someone I know had worked in Saigol group of the then west pakistan (in the 60s). According to him, the company had luxurious golf courses, its own corporate planes and other stuffs, which meant it could easily compete against any elite company.

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