The Impact of De-Dollarization on Reducing the Impact of Sanctions and Increasing Economic Convergence Case Study: Exchanges between Iran and ASEAN Member Countries
Subject Areas :ابوالقاسم شهریاری 1 , سیدنصراله حجازی 2 , فهیمه عسگرآبادی 3
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Keywords: Keywords: Iran, ASEAN, De-dollarization, Sanctions, Time series.,
Abstract :
The purpose of this study is to investigate the effect of sanctions on Iranian trade exchanges and the effect of de-dollarization on reducing the effect of sanctions. Dependence on the dollar has created several problems such as the devaluation of the national currency and inflationary shocks, and therefore de-dollarization is a policy to increase the power of central banks, especially for countries such as Iran that are under sanctions. ASEAN is the latest union to adopt its de-dollarization measures at the beginning of 2023. The present study seeks to investigate Iran-ASEAN trade and feasibility of using de-dollarization decision to improve Iran's trade exchange. Accordingly, questions have been raised about the impact of sanctions on Iran-ASEAN exchanges? And how ASEAN's de-dollarization decision will affect Iran-ASEAN exchanges. The hypothesis of the research is that sanctions will have a severe impact on Iran-ASEAN exchanges and de-dollarization will provide a suitable ground for increasing trades. To examine the current situation using the time series technique from 2000 to 2020, it was determined that Iran-ASEAN exchanges were severely affected by the 2018 sanctions so that exports have fallen sharply in value. The choice of the dollar alternative currency and the use of alternative SWIFT systems will provide the basis for improving Iran-ASEAN trade exchanges.
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