Concept

Economic history of Iran

Summary
Prior to 1979, Iran's economic development was rapid. Traditionally an agrarian society, by the 1970s the country had undergone significant industrialization and economic modernization. This pace of growth had slowed dramatically by 1978 as capital flight reached 30to30 to 40 billion 1980 US dollars just before the revolution. After the Revolution of 1979, Iran's government proceeded with 4 reforms:

First they nationalized all industry, including the NIOC, and all Iranian banks.

The new Constitution divided the economy in 3 different sectors, namely "State", "Cooperative" and "Private", with the majority being state-owned businesses.

The Government started using central planning to control the economy, having the Supreme Leader, the President and Majlis creating 5-year socio-economic plans.

The State took control of setting prices and subsidies.

The government's long-term objectives since the revolution have been economic independence, full employment, and a comfortable stand
About this result
This page is automatically generated and may contain information that is not correct, complete, up-to-date, or relevant to your search query. The same applies to every other page on this website. Please make sure to verify the information with EPFL's official sources.
Related publications

Loading

Related people

Loading

Related units

Loading

Related concepts

Loading

Related courses

Loading

Related lectures

Loading