The economic development of oil-exporting countries: The case of Iraq

Thesis/Dissertation · Fri Jan 01 04:00:00 EST 1988

OSTI ID:5224073

Khalil, M A

The primary objective of this study is to measure the response of Iraqi development to the influx of oil-export revenues. The study employs several econometric techniques using data from 1960 to 1980. From 1960 to 1980, Iraq achieved remarkable economic growth, a high rate of investment and employment, more equitable income distribution, a favorable balance of trade, and a stabilized economy. The 1972 government takeover of oil industries and the oil price boom of 1973 brought even more unprecedented growth and prosperity to the nation. Despite this remarkable performance however, the economic structure of Iraq remains dominated by the oil-export sector. In other words, Iraq's ability to reduce its dependence on oil revenues has been constructed because home sectors were not yet developed sufficiently to provide outputs and revenues needed by the country. Recommendations include development of policies designed to link the oil export sector with the rest of the economy, to encourage more investment by the private sector, to expand and improve the productivity of the agricultural and industrial sectors, and to develop inter-nation regional cooperatives capable of expanding the market for locally produced goods.

• Research Organization: West Virginia Univ., Morgantown, WV (USA)
• OSTI ID: 5224073
• Country of Publication: United States
• Language: English

Related Subjects

29 ENERGY PLANNING, POLICY, AND ECONOMY
290200 -- Energy Planning & Policy-- Economics & Sociology
294002* -- Energy Planning & Policy-- Petroleum
ASIA
DEVELOPING COUNTRIES
ECONOMIC DEVELOPMENT
ECONOMIC IMPACT
INDUSTRY
IRAQ
MIDDLE EAST
OIL-EXPORTING COUNTRIES
PETROLEUM INDUSTRY
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