The Iranian Economy After the Revolution: An Economic Appraisal of the Five-Year Plan

Abstract

In the 1980s, the Iranian economy assumed the burden of an eight-year war that resulted in considerable sacrifice and financial hardship for the Iranian people. Iran also bore the costs associated with the influx of a large number of refugees from neighboring countries. Its public sector was inefficient and its private sector reluctant; both suffered from uncertainty created by suddenly and rapidly changing economic policies. In such circumstances, implementation of the necessary macroeconomic and structural adjustments was a formidable task.