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The economy of Iraq has fluctuated wildly since the 1950s. It has been affected by changes in governments, by wars, and by general instability. This book analyzes a complex subject and is especially timely at this critical juncture in the history of Iraq, the Middle East, and international relations. Abbas Alnasrawi traces the growth of the Iraqi economy since 1950, assesses its present state of crisis and underdevelopment, and explores its prospects for recovery. Alnasrawi contends that the economic development of Iraq was shaped by the rise in oil revenue, the war between Iran and Iraq,...

This pathbreaking survey analyzes a complex subject and is especially timely at this critical juncture of international affairs. Abbas Alnasrawi covers the field from the emergence of modern Arab economic dependence to the present mid-eastern impasse. Alnasrawi contends that Arab economic development was shaped by Arab nationalist thought, the emergence of the oil industry in the Arab region, and the integration of Arab economies into the international economic system. The volume takes a clear-sighted look at the evolution of each of the three forces and details their impact on the...

Oil revenue has been an economic curse for Iraq. In the second half of the 20th century the international oil sector shaped Iraq's economy, forcing it to rely too heavily on revenue brought in by oil production and exports. Iraq's failure to use copious oil rents to diversify the economy has proven disastrous for its people and economy. Its over-reliance on oil revenues coupled with the consequences of its war with Iran, the Gulf War, and the ensuing economic sanctions have led the country to economic destruction, sanctions, and enormous debt.

Iraq is a major oil producing country, a...