This paper examines the economic transformation of Iran in a global context through the twentieth century. At the start of that century, the Iranian economy had long remained stagnant, poor, and largely agrarian, with a marginal role in the world economy. By the turn of 21st century, Iran had...

This paper reviews some of the main trends in the Iranian economy over the past two decades and discusses the key economic policy issues that divide the reformist from the more conservative factions in Iran. It argues that the economic policy dilemma of whether to liberalize the economy has not...

The paper considers international per capita output and its growth using a panel of data for 102 countries between 1960-1989. It sets out an explicitly stochastic Solow growth model and shows that this has quite different properties from the standard approach where the output equation is...

This paper presents an account of the main economic developments in the Iranian economy over the period of the First Five-Year Economic, Social and Cultural Development Plan (1989/90-1993/94) of the Islamic Republic of Iran. It also provides an overall evaluation, and examines the objectives and...

This paper develops a long run growth model for a major oil exporting economy and derives conditions under which oil revenues are likely to have a lasting impact. This approach contrasts with the standard literature on the "Dutch disease" and the "resource curse", which primarily focus on short...