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Iraq's Burdens Oil, Sanctions, and Underdevelopment
Abbas Alnasrawi
ISBN: 0-313-32459-X
ISBN-13: 978-0-313-32459-8
192 pages
Praeger Publishers
Publication: 11/30/2002
List Price: $102.95 (UK Sterling Price: £71.95)
Discount Price: $51.48 Sale Price for U.S. Customers Only. Save 50%. Ends 12/31/2009.
Availability: In Stock
Media Type: Hardcover
Also Available: Ebook
Trim Size: 6 1/8 x 9 1/4
Subjects: Awards:
  • Choice Outstanding Academic Title, 2003
Description: 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 founding member of OPEC, and possesses the world's second highest amount of oil reserves. Yet few studies exist on Iraq's oil industry and its impact on the economic and political fortunes of the country. Alnasrawi remedies this by helping us understand this important Arab, Middle Eastern, oil-exporting country that has been a constant focus of U.S. foreign policy since 1990. Alnasrawi concludes that the availability of capital is an insufficient condition for economic development, and may in fact retard it, as it did in this now reviled and wrecked country.
Table of Contents:
  • The International Context of the Iraqi Oil Industry
    The Rise and Decline of a National Oil Industry
    Oil and Development in Iraq
    Invasion, Sanctions, and Bombing
    Sanctions After the Gulf War
    Impact of the Sanctions on Iraq
    Oil Under Sanctions
    Burdens in the Future
    Conclusions and Prospects
    Selected Bibliography
    Index
About the Author: ABBAS ALNASRAWI is the John H. Converse Professor of Economics, the University of Vermont. He is the author of The Economy of Iraq: Oil, Wars, Destruction of Development and Prospects (Greenwood Press, 1994) and Arab Nationalism, Oil, and the Political Economy of Dependency (Greenwood Press, 1991).
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