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Sanctions, war, and systemic risk in 1914 and 2022

Danielsson, Jon, Goodhart, C. A. E. and Macrae, Robert (2022) Sanctions, war, and systemic risk in 1914 and 2022. VOX EU.

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The Western countries have sanctioned Russia in a way not applied to any globally integrated major power in over a century, ever since 1914. This column argues that there are lessons to be learned from the 1914 systemic crisis and that high inflation and government debt will make it difficult to contain a crisis today if one emerges.

Item Type: Article
Official URL:
Additional Information: © 2022 The Authors
Divisions: Finance
Financial Markets Group
Subjects: H Social Sciences > HF Commerce
H Social Sciences > HC Economic History and Conditions
J Political Science > JZ International relations
Date Deposited: 21 Mar 2022 11:33
Last Modified: 22 Mar 2022 00:12

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