Tag: Pesaran

Iran’s in the Mood to Negotiate on its Nuclear Program

HASHEM PESARAN, professor of economics, USC Dornsife.

This op-ed originally appeared in the Guardian on Sept. 17.

It is well documented that economic sanctions on their own have not generally been effective in achieving their political aims, particularly when they are imposed against non-democratic regimes. Sanctions have their greatest impact in the short term, as their effects tend to be mitigated in the longer term by structural economic and political adjustments. Overall, effective sanctions have been short-lived, whilst ineffective ones have lasted a long time.

China Needs a Wall Street

HASHEM PESARAN, professor of economics, USC Dornsife.

This op-ed originally appeared in The Sunday Times.

The British economy is experiencing a double-dip recession, the leading eurozone economies and Japan are stagnant and the American economy is slowing down. At the same time, emerging economies such as China and India continue to show impressive growth.

This divide in the fortunes of the industrialised and emerging economies is not new. Over the past two decades China’s importance has increased dramatically. While world trade has grown by about 40% from the mid-1990s, China’s trade has more than doubled during the same period.