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The role of oil in the economy and development of Iran

06/19/2021

Received: 18 December 2020
Revised: 24 January 2021
Accepted: 15 February 2021

Katayoon Mohseni Fard, Keyvan Loolooie

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Abstract

Sharp fluctuations in world oil prices and their impact on the revenues of exporting countries have created some changes in the economic structure of these countries. For many years, Irans oil sector has provided the majority of its national revenues and in fact this sector plays a dominant role in the national economy and any unexpected decline in oil revenues may directly affect the government budget and in the case of absence of proper economic policies, it can lead to economic crisis and imbalances. Also, oil and its resultant economic structure play important role in Irans political, economic and social transformations and it can be said that despite the orientation of programs toward job creation and poverty eradication in different decades, oil revenues have not eliminated poverty, unemployment and inequality and they have even led to deterioration of indicators of inequality in the country.

Keywords: economy, development, oil, Iran.

 

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Publication Information

Journal of Practical Business Law

ISSN: 2783-2899

Publisher
Rose Scientific Publication
Melbourne, Australia


Director In-charge:
Seyed Mojtaba Mostafavi, Ph.D.

Editor-in-Chief
Justin Perry, Ph.D.

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Mehrdad Fallahi Barzoki, Ph.D.

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