The Economy of Iraq - (Contributions in Economics and Economic History) by Abbas Alnasrawi (Hardcover)

About the Book

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, and the invasion of Kuwait and its aftermath.

The discussion begins with the burst of Iraq's oil industry and the development policies under the monarchy. Subsequent chapters highlight development planning during the first ten years of the republic, the development plans of the ruling Baath party, the distructive consequences of the Iran-Iraq war and the recent invasion of Kuwait, and the future of the Iraqi economy to the year 2010. This in-depth examination puts this subject into a manageable context for students of the Middle East, multinational oil, Third World development, and international relations.

Book Synopsis

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, and the invasion of Kuwait and its aftermath.

The discussion begins with the burst of Iraq's oil industry and the development policies under the monarchy. Subsequent chapters highlight development planning during the first ten years of the republic, the development plans of the ruling Baath party, the distructive consequences of the Iran-Iraq war and the recent invasion of Kuwait, and the future of the Iraqi economy to the year 2010. This in-depth examination puts this subject into a manageable context for students of the Middle East, multinational oil, Third World development, and international relations.

Review Quotes

.,."a comprehensive study of the political economy of modern Iraq. This book is valuable for both the specialist and nonspecialist alike. Researchers, diplomats, and journalists seeking to understand the complex issues and problems related to Iraq ought to read The Economy of Iraq."-Digest of Middle East Studies

.,."a well-documented survey of the economic history of Iraq since 1950. A book rich in details."-Journal of Energy and Development

?...a comprehensive study of the political economy of modern Iraq. This book is valuable for both the specialist and nonspecialist alike. Researchers, diplomats, and journalists seeking to understand the complex issues and problems related to Iraq ought to read The Economy of Iraq.?-Digest of Middle East Studies

?...a well-documented survey of the economic history of Iraq since 1950. A book rich in details.?-Journal of Energy and Development

?Alnasrawi's important study will no doubt become a classic in the all too rapidly growing literature on policy failure in the developing world. His study presents a sophisticated and fascinating account of the damage a reckless regime can inflict. It should be on the shelf of anyone wishing to look beyond the headlines and understand what really went wrong in Iraq.?-Middle East Studies Association Bulletin

?The book provides good background on the early history of oil development with discussion of concession agreements, pricing arrangements, and the resulting growth of output leading ultimately to nationalism of the industry, establishment of the Organization of Petroleum Exporting Countries (OPEC), and the pricing revolution of 1973.?-Choice

..."a comprehensive study of the political economy of modern Iraq. This book is valuable for both the specialist and nonspecialist alike. Researchers, diplomats, and journalists seeking to understand the complex issues and problems related to Iraq ought to read The Economy of Iraq."-Digest of Middle East Studies

..."a well-documented survey of the economic history of Iraq since 1950. A book rich in details."-Journal of Energy and Development

"The book provides good background on the early history of oil development with discussion of concession agreements, pricing arrangements, and the resulting growth of output leading ultimately to nationalism of the industry, establishment of the Organization of Petroleum Exporting Countries (OPEC), and the pricing revolution of 1973."-Choice

"Alnasrawi's important study will no doubt become a classic in the all too rapidly growing literature on policy failure in the developing world. His study presents a sophisticated and fascinating account of the damage a reckless regime can inflict. It should be on the shelf of anyone wishing to look beyond the headlines and understand what really went wrong in Iraq."-Middle East Studies Association Bulletin

About the Author

ABBAS ALNASRAWI is Professor of Economics at the University of Vermont, where he has been a member of the faculty since 1963. Dr. Alnasrawi has written four books, Arab Nationalism, Oil and the Political Economy of Dependency (Greenwood Press, 1991), OPEC in the Chaning World Economy, Arab Oil and U.S. Energy Requirements, and Financing Economic Development in Iraq (Praeger, 1967).