By Kamran Mofid
The Iran-Iraq conflict have been one of many longest and such a lot devastating uninterrupted wars among sleek country states. It produced neither victor nor vanquished and left the regimes in either international locations essentially intact. in spite of the fact that, it truly is transparent that the family, neighborhood and foreign repercussions of the struggle suggest that 'going again' isn't an alternative. Iraq owes an excessive amount of to regain the lead it previously held in financial functionality and improvement degrees. What then does reconstruction suggest? during this e-book, Kamran Mofid counteracts the scant research up to now of the commercial outcomes of the Gulf warfare by means of analysing its influence on either economies by way of oil construction, exports, foreign currency gains, non-defence overseas alternate and agricultural functionality. within the ultimate part, Mofid brings jointly the part components of the commercial expense of the struggle to assign a buck price to the devastation.
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Additional resources for The Economic Consequences of the Gulf War
Therefore, it can be seen that one of the most serious consequences of the war has been in the oil sector, where oil production/exports have declined significantly, while every effort has been made to increase them. e. they have reduced their dependency on Iraq). 2, where the value of total exports and its composition during the 1973–86 period are given. As can be noted, given the serious damages to oil-export facilities, the revenue generated by petroleum exports has fallen drastically. It fell from 7,718 million dinars in 1980 to only 2,752 million dinars in 1986, representing an average annual decline of 16 per cent during the same period.
Furthermore the failure to diversify the sources of foreignexchange earnings is also in contrast to the objectives of the First National Plan of the Islamic Republic. If we compare and contrast the figures for the post- and pre-revolution periods, it can be noted that indeed, since the revolution, Iran has become much more dependent on oil revenues. 5 per cent of the total value of exports, while during 1982–6 this has increased to 98 per cent per annum. 5 N-EX in TX* Notes: *Author’s calculation.
Now, more than ever before, the oil-exporting economies of the Gulf face a serious ‘butter vs. guns’ dilemma. To shed light on these issues, in chapter nine we shall look at the impact of the war on Milex and the arms imports of Saudi Arabia and Kuwait. In chapter ten we shall attempt to bring together the various component parts of the economic cost of the war to Iran and Iraq and to assign a dollar value to the war’s costs. Chapter eleven, the conclusion to the book, summarizes the conclusions to the previous chapters and then tries to put forward some recommendations concerning the eventual post-war reconstruction of Iran and Iraq.
The Economic Consequences of the Gulf War by Kamran Mofid