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Institutional Change, Policy Challenges, and Macroeconomic Performance: Case Study of the Islamic Republic of Iran (1979-2004)

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dc.contributor.authorHakimian, Hassan
dc.date.accessioned2017-08-28T16:20:42Z
dc.date.available2017-08-28T16:20:42Z
dc.date.issued2008
dc.description.abstractDebates over the nature and direction of economic policy in Iran have intensified rather than abated after the tumultuous changes brought about by the revolution in 1979. In the span of these three decades, Iran has witnessed sweeping institutional changes and has been affected by significant economic and political upheavals. At the macroeconomic level, too, there have been a number of shocks ranging from oil booms and busts, to war (with Iraq), trade sanctions, and internal political strife. This paper uses Iran's experience to reflect on growth and development in the context of political upheaval and an uncertain institutional environment. It is a premise of the paper that Iran's recent past presents a rare, 'laboratory' like, case for the study of growth and development in a broad context. This paper examines post-revolutionary Iran's macroeconomic policies and performance in a comparative context, appraising it against Iran's past trends and real potential. It shows how recurrent cycles of populism and pragmatism have characterized this period. The paper argues that two sets of factors have conditioned Iran's performance and will continue to taint her prospects for sustainable growth into the future. These are: (i) Iran's limited economic diversification and continued dependence on the oil sector, and (ii) the institutional setting in which post-revolutionary economic policies have been formulated and implemented for much of the last three decades.en
dc.identifierhttp://documents.worldbank.org/curated/en/478501468253788129/Institutional-change-policy-challenges-and-macroeconomic-performance-case-study-of-the-Islamic-Republic-of-Iran-1979-2004
dc.identifier.doi10.1596/28004
dc.identifier.urihttps://hdl.handle.net/10986/28004
dc.languageEnglish
dc.language.isoen_US
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesCommission on Growth and Development Working Paper;No. 26
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectADVERSE CONSEQUENCES
dc.subjectAGGREGATE DEMAND
dc.subjectAGRICULTURE
dc.subjectANNUAL % GROWTH
dc.subjectANNUAL GROWTH
dc.subjectANNUAL IMPORTS
dc.subjectAVERAGING
dc.subjectBALANCE OF PAYMENTS
dc.subjectBALANCE OF PAYMENTS CRISES
dc.subjectBANK CREDITS
dc.subjectBANK LOANS
dc.subjectBANKING
dc.subjectBANKING SYSTEM
dc.subjectBILL
dc.subjectBILLS
dc.subjectBLACK MARKET
dc.subjectBONDS
dc.subjectBRAIN DRAIN
dc.subjectBUDGET DEFICIT
dc.subjectBUDGET DEFICITS
dc.subjectCAPITAL ACCUMULATION
dc.subjectCAPITAL GOODS
dc.subjectCENTRAL BANK
dc.subjectCLARITY
dc.subjectCOMMODITIES
dc.subjectCOMMUNICATION
dc.subjectCOMPETITIVENESS
dc.subjectCONSOLIDATION
dc.subjectCONSUMER PRICE INDEX
dc.subjectCONSUMPTION EXPENDITURE
dc.subjectCORRELATION COEFFICIENT
dc.subjectCORRELATION COEFFICIENTS
dc.subjectCREDIT
dc.subjectCURRENCY
dc.subjectCURRENCY CRISES
dc.subjectCURRENT ACCOUNT
dc.subjectDEBT
dc.subjectDEBT CRISES
dc.subjectDEBT CRISIS
dc.subjectDEBT SERVICE
dc.subjectDEBTS
dc.subjectDECISION MAKING
dc.subjectDEFICIT
dc.subjectDEMOCRACIES
dc.subjectDEMOCRACY
dc.subjectDEMOGRAPHIC
dc.subjectDEMOGRAPHIC CHANGE
dc.subjectDEPOSIT
dc.subjectDEPOSITS
dc.subjectDEPRESSIONS
dc.subjectDEVELOPING COUNTRIES
dc.subjectDEVELOPMENT
dc.subjectDEVELOPMENT AGENCIES
dc.subjectDEVELOPMENT PATH
dc.subjectDEVELOPMENT PROJECTS
dc.subjectDISTORTIONS
dc.subjectDIVIDEND
dc.subjectDOMESTIC MARKET
dc.subjectDOMESTIC MARKETS
dc.subjectDOMESTIC SAVINGS
dc.subjectECONOMIC BOOM
dc.subjectECONOMIC CRISIS
dc.subjectECONOMIC DEVELOPMENT
dc.subjectECONOMIC GROWTH
dc.subjectECONOMIC HISTORY
dc.subjectECONOMIC INTEGRATION
dc.subjectECONOMIC ORDER
dc.subjectECONOMIC POLICIES
dc.subjectECONOMIC POLICY
dc.subjectECONOMIC REFORM
dc.subjectECONOMIC REFORMS
dc.subjectECONOMIC RESEARCH
dc.subjectECONOMIC RESOURCES
dc.subjectECONOMIC STRUCTURE
dc.subjectECONOMIC TRENDS
dc.subjectECONOMIES
dc.subjectECONOMY
dc.subjectEMPLOYMENT POLICY
dc.subjectEQUILIBRIUM
dc.subjectEQUITY
dc.subjectEXCESS LIQUIDITY
dc.subjectEXCHANGE
dc.subjectEXCHANGE RATE DETERMINATION
dc.subjectEXCHANGE RATE REGIME
dc.subjectEXCHANGE RATE SYSTEM
dc.subjectEXCHANGE REGIME
dc.subjectEXCHANGE RESTRICTIONS
dc.subjectEXPECTATIONS
dc.subjectEXPORT REVENUES
dc.subjectEXPORTS
dc.subjectEXPOSURE
dc.subjectEXTERNAL DEBT
dc.subjectEXTERNAL EQUILIBRIUM
dc.subjectFINANCIAL CRISIS
dc.subjectFINANCIAL REFORMS
dc.subjectFISCAL POLICIES
dc.subjectFISCAL REFORMS
dc.subjectFOREIGN CAPITAL
dc.subjectFOREIGN COMPETITION
dc.subjectFOREIGN DEBT
dc.subjectFOREIGN DIRECT INVESTMENT
dc.subjectFOREIGN EXCHANGE
dc.subjectFOREIGN EXCHANGE CONTROLS
dc.subjectFOREIGN EXCHANGE POLICY
dc.subjectFOREIGN EXCHANGE RESERVES
dc.subjectFOREIGN INVESTMENT
dc.subjectFOREIGN LOANS
dc.subjectFOREIGN TRADE
dc.subjectFUTURE
dc.subjectGDP PER CAPITA
dc.subjectGLOBALIZATION
dc.subjectGOODS
dc.subjectGOVERNMENT BUDGET
dc.subjectGOVERNMENT SUBSIDIES
dc.subjectGROWTH PERFORMANCE
dc.subjectGROWTH POTENTIAL
dc.subjectGROWTH RATE
dc.subjectGROWTH RATES
dc.subjectHIGH INFLATION
dc.subjectIMBALANCES
dc.subjectIMPORT
dc.subjectIMPORT COMPRESSION
dc.subjectIMPORTS
dc.subjectINCENTIVES
dc.subjectINCOME
dc.subjectINCOME GROWTH
dc.subjectINCOME LEVELS
dc.subjectINCOMES
dc.subjectINDUSTRIALIZATION
dc.subjectINEFFICIENCY
dc.subjectINFLATION
dc.subjectINFLATION RATE
dc.subjectINFLATIONARY PRESSURES
dc.subjectINSTITUTIONAL ENVIRONMENT
dc.subjectINSURANCE
dc.subjectINTEREST
dc.subjectINTEREST RATES
dc.subjectINTERNATIONAL BUSINESS
dc.subjectINTERNATIONAL ECONOMY
dc.subjectINTERNATIONAL MARKET
dc.subjectINTERNATIONAL MARKETS
dc.subjectINTERNATIONAL RESERVES
dc.subjectINTERNATIONAL TRADE
dc.subjectINVESTMENT
dc.subjectINVESTMENT CLIMATE
dc.subjectLABOR MARKETS
dc.subjectLDCS
dc.subjectLIBERALIZATION
dc.subjectLIQUIDITY
dc.subjectLIVING STANDARDS
dc.subjectM2
dc.subjectMACROECONOMIC BALANCE
dc.subjectMACROECONOMIC CONDITIONS
dc.subjectMACROECONOMIC INDICATORS
dc.subjectMACROECONOMIC LEVEL
dc.subjectMACROECONOMIC MANAGEMENT
dc.subjectMACROECONOMIC PERFORMANCE
dc.subjectMACROECONOMIC POLICIES
dc.subjectMACROECONOMIC POLICY
dc.subjectMACROECONOMIC REFORMS
dc.subjectMACROECONOMIC STABILITY
dc.subjectMACROECONOMICS
dc.subjectMANAGERIAL EFFICIENCY
dc.subjectMIDDLE INCOME COUNTRIES
dc.subjectMONETARY EXPANSION
dc.subjectMULTIPLE EXCHANGE RATE
dc.subjectNATURAL RESOURCE
dc.subjectNATURAL RESOURCES
dc.subjectOIL ECONOMIES
dc.subjectOIL ECONOMY
dc.subjectOIL EXPORT
dc.subjectOIL EXPORTER
dc.subjectOIL EXPORTS
dc.subjectOIL MARKETS
dc.subjectOIL PRICE
dc.subjectOIL PRICES
dc.subjectOIL REVENUE
dc.subjectOIL REVENUES
dc.subjectOUTCOMES
dc.subjectOUTPUT
dc.subjectOWNERSHIP
dc.subjectPAYMENTS
dc.subjectPER CAPITA INCOME
dc.subjectPOLITICAL ECONOMY
dc.subjectPOLITICAL STRIFE
dc.subjectPOLITICAL UPHEAVAL
dc.subjectPOLITICAL UPHEAVALS
dc.subjectPOPULATION GROWTH
dc.subjectPOSTWAR PERIOD
dc.subjectPOSTWAR YEARS
dc.subjectPOVERTY REDUCTION
dc.subjectPRICE CONTROLS
dc.subjectPRICE FLUCTUATIONS
dc.subjectPRICE INCREASES
dc.subjectPRICES
dc.subjectPRIVATE CONSUMPTION
dc.subjectPRIVATE PROPERTY
dc.subjectPUBLIC FINANCES
dc.subjectRAPID GROWTH
dc.subjectREAL GDP
dc.subjectREAL GROWTH RATES
dc.subjectREAL INCOME
dc.subjectRECESSION
dc.subjectREFORM PROGRAM
dc.subjectREJECTION
dc.subjectSHARE
dc.subjectSHORT-TERM DEBT
dc.subjectSHORT-TERM TRADE
dc.subjectSHORTFALL
dc.subjectSLOW GROWTH
dc.subjectSTRUCTURAL REFORMS
dc.subjectSUBSIDIES
dc.subjectSUBSIDY
dc.subjectSUPPLY
dc.subjectSUPPLY SIDE
dc.subjectSUSTAINABLE GROWTH
dc.subjectTAX REFORMS
dc.subjectTOTAL EXPORTS
dc.subjectTOTAL INVESTMENT
dc.subjectTRACK RECORD
dc.subjectTRADE
dc.subjectTRADE BALANCE
dc.subjectTRADE FINANCE
dc.subjectTRADE POLICY
dc.subjectTRENDS
dc.subjectTROUGH
dc.subjectUNCERTAINTY
dc.subjectUNDUE INFLUENCE
dc.subjectUNEMPLOYMENT
dc.subjectUNIVERSAL SUFFRAGE
dc.subjectVARIABLES
dc.subjectVOLATILITY
dc.subjectWEALTH
dc.subjectWHOLESALE PRICE INDEX
dc.subjectWORLD DEVELOPMENT INDICATORS
dc.titleInstitutional Change, Policy Challenges, and Macroeconomic Performanceen
dc.title.subtitleCase Study of the Islamic Republic of Iran (1979-2004)en
dc.typeWorking Paperen
dc.typeDocument de travailfr
dc.typeDocumento de trabajoes
dspace.entity.typePublication
okr.date.disclosure2010-12-02
okr.date.doiregistration2025-04-15T11:13:31.865348Z
okr.doctypePublications & Research::Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/478501468253788129/Institutional-change-policy-challenges-and-macroeconomic-performance-case-study-of-the-Islamic-Republic-of-Iran-1979-2004
okr.guid478501468253788129
okr.identifier.externaldocumentum000333037_20101202020459
okr.identifier.internaldocumentum13185828
okr.identifier.report57725
okr.importedtrue
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/478501468253788129/pdf/577250NWP0Box353766B01PUBLIC10gcwp026web.pdfen
okr.region.administrativeMiddle East and North Africa
okr.region.countryIran, Islamic Republic of
okr.topicMacroeconomics and Economic Growth::Economic Theory & Research
okr.topicMacroeconomics and Economic Growth::Economic Development
okr.topicMacroeconomics and Economic Growth::Economic Growth
okr.topicMacroeconomics and Economic Growth::Economic Policy, Institutions and Governance
okr.topicMacroeconomics and Economic Growth::Macroeconomic Management
okr.unitPoverty Reduction and Equity (PRMPR)
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