Review
'In this book Dr Karshenas makes an important contribution to our understanding of the complicated links that exist between foreign exchange revenues from oil exports, government's expenditure policy, and the process of industrialization. It represents an excellent blend of political theory of the state and the economic realities of the international market place. The book is well written, carefully documented and is highly informative.' Professor Hashem Pesaran, University of Cambridge and University of California, Los Angeles
'It helps us the understand the Iranian industrialization for the period up to 1977 better than any other piece of work known to me. Moreover, from the point of view of political economy of development, there are insights here of wider applicability.' Professor Sukhamoy Chakravarty, Delhi University
'It helps us the understand the Iranian industrialization for the period up to 1977 better than any other piece of work known to me. Moreover, from the point of view of political economy of development, there are insights here of wider applicability.' Professor Sukhamoy Chakravarty, Delhi University
Product Description
This book examines the problems of economic growth and structural change in oil-exporting economies by focussing on the experience of Iran. Contrary to the recent literature which views oil income as a hindrance rather than an aid to industrial diversification and growth, Massoud Karshenas argues here that oil income can make a substantial contribution to industrial growth, subject to the adoption of appropriate policy measures. Dr Karshenas provides a wealth of empirical information on Iran, most of it gathered here for the first time in one volume. The main focus of the book is on the process of growth and structural change in Iran between 1953 and 1977. It also contains, however, two detailed chapters which trace the roots of backwardness in the Iranian economy. These serve to highlight the key historical elements which shaped the impact of oil income on the subsequent industrialization experience.
