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Trade and Foreign Exchange Policies in Iran : Reform Agenda, Economic Implications and Impact on the Poor

TRADE POLICY FOREIGN EXCHANGE ECONOMIC IMPLICATIONS TRADE BARRIERS IMPORT LICENCING IMPORT REGULATIONS MULTIPLE EXCHANGE RATES STOCK MARKETS QUALITY STANDARDS EXPORT FINANCE EXPORT INSURANCE EXPORT GUARANTEES PRICING REFORMS PETROLEUM PRICES PRICE SUBSIDIES CONSUMPTION TRADE STATISTICS ADMINISTRATIVE PROCEDURES ADVERSE EFFECTS ANTI- TRADE ANTI-TRADE AVERAGE TARIFF AVERAGE TARIFFS BENCHMARK BENCHMARK EQUILIBRIUM BENEFIT ANALYSIS CENTRAL BANK CHANGES IN TRADE COMPETITIVE FORCES CONSTANT RETURNS TO SCALE COUPONS CRUDE OIL CURRENCY CURRENT ACCOUNT CUSTOMS CUSTOMS PROCEDURES DEBT DEVELOPMENT ECONOMICS DOMESTIC PRODUCERS DOMESTIC PRODUCTS DUTY DRAWBACK DUTY DRAWBACKS ECONOMIC ACTIVITY ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC IMPLICATIONS ECONOMIC PERFORMANCE ECONOMIC POLICIES ECONOMIC POLICY ECONOMIC REFORM ECONOMIC STRATEGIES ECONOMICS RESEARCH EMBARGO ENVIRONMENTAL REGULATIONS EQUILIBRIUM EXCHANGE RATE EXCHANGE RATE POLICIES EXCHANGE RATES EXPORT BIAS EXPORT DEVELOPMENT EXPORT FINANCE EXPORT POLICY EXPORT PRICE EXPORT PROCESSING EXPORT PROCESSING ZONES EXPORT PROMOTION EXPORT QUALITY EXPORT STRUCTURE EXPORTERS EXPORTS FACTOR ENDOWMENTS FLOATING EXCHANGE RATE FOREIGN COUNTRIES FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN EXCHANGE MARKETS FOREIGN EXCHANGE POLICIES FOREIGN EXCHANGE POLICY FOREIGN EXCHANGE RECEIPTS FOREIGN EXCHANGE RESERVES FOREIGN FINANCING FREE ACCESS FREE TRADE FREE TRADE ZONES GDP GENERAL EQUILIBRIUM MODEL GROSS DOMESTIC PRODUCT HIGH TRADE BARRIERS IMPACT OF TRADE IMPORT BARRIERS IMPORT DUTIES IMPORT LICENSING IMPORT PROTECTION IMPORT TARIFF IMPORTED INPUTS IMPORTED PRODUCTS IMPORTS INCOME INCOME TAX EXEMPTIONS INDUSTRIAL COUNTRIES INDUSTRIAL SECTOR INDUSTRY ESTIMATES INFLATION INFLATION RATE INFRASTRUCTURE PROJECTS INSURANCE INTERNATIONAL DEVELOPMENT INTERNATIONAL MARKET INTERNATIONAL PRICES LARGE FIRMS LICENSING REQUIREMENTS LIVING STANDARDS MACROECONOMIC SITUATION MARKET COMPETITION MARKET ECONOMIES MULTIPLE EXCHANGE RATES NON-TARIFF BARRIERS NONTARIFF BARRIER COVERAGE NONTARIFF BARRIERS NONTRADITIONAL EXPORTS OFFICIAL EXCHANGE RATE OIL OIL PRICES OIL REVENUES OPEN MARKET OPENNESS PREFERENTIAL TREATMENT PRICE SUBSIDIES PRODUCERS QUALITY STANDARDS QUOTAS RATES OF PROTECTION REAL INCOME REGULATORY REGIMES SAFETY ISSUES SAFETY NETS TARIFF BARRIERS TARIFF EQUIVALENCE TARIFF EQUIVALENTS TARIFF RATE TARIFF RATES TARIFF REDUCTION TARIFFS TAX RATES TAXATION TRADE BARRIERS TRADE DATA TRADE LIBERALIZATION TRADE LIBERALIZATION INCREASES TRADE POLICY TRADE POLICY REFORM TRADE RESTRICTIONS TRADE TAXES UNEMPLOYMENT UNIFORM UNIFORM TARIFFS URUGUAY ROUND VALUE OF IMPORTS VOLUNTARY EXPORT RESTRAINTS WELFARE GAINS WORLD PRICES WORLD TRADE WORLD TRADE ORGANIZATION WTO ZERO TARIFF
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Washington, DC
Middle East and North Africa | Iran, Islamic Republic of
2013-08-28T22:00:06Z | 2013-08-28T22:00:06Z | 2001-11-01

Iran's economic performance in the last two decades has been very disappointing. This is highlighted by the fact that per capita GDP was 16 percent lower in 1998 than in 1979. However, the most important single reason for this poor performance was not any domestic economic policy, but the long and costly war with Iraq. Fluctuations in oil prices and the US embargo also adversely affected the economy. Once the war with Iraq had finished, economic performance began to improve slowly; in the decede ending in 1998 per capita GDP growth was positive, although it averaged only 3 percent per year. Although less important than the war with Iraq, Iran's domestic economic policies have not been conducive to rapid economic growth. Economic performance has been and still is hampered by administered prices; large, poorly targeted subsidies; multiple exchange rates (Which remain important, despite recent progress in reducing disparities among them); trade restrictions; and state domination of economic activity. All banks in Iran are sdtate owned, and most large firms are owned by the state or by the quasi-public religious foundations. This report describes Iran;s trade and exchange rate policies, proposes and explains a reform program, and develops a computable general equilibrium of Iran's economy to estimate the gains--to the economy as a whole and to the poor--likely to accrue from various reform options. The report also recommends a program for sequencing the reforms.

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