Iran and the Global Financial Crisis
AbstractThe global financial crisis is set to depress oil producing economies. As the crisis is already pushing down oil prices, a firm response to the fallout of the crisis from governments and central banks is expected. Oil prices have tumbled more than 70% since their July peak and there are fears they could continue their plunge because of diminishing demand caused by the current financial meltdown. Though, the Iranian government does not seem to be greatly concerned about the ongoing global situation, although many Iranian economists believe that sanctions and the international financial crisis will soon be taking their toll on Iran’s economy by unfavorably affecting oil, trade, and trade financing. Even if the relative isolation from the world’s economy may seem to protect Iran from the negative impact of the global financial crisis to a certain extend at least for now, plunging oil prices and a massive credit deterioration suggest otherwise.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 13314.
Date of creation: Jan 2009
Date of revision:
Iran; Financial Crisis; Oil Revenue; Currency Exchange; Currency Crash;
Find related papers by JEL classification:
- O5 - Economic Development, Technological Change, and Growth - - Economywide Country Studies
This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-02-14 (All new papers)
- NEP-ARA-2009-02-14 (MENA - Middle East & North Africa)
- NEP-CWA-2009-02-14 (Central & Western Asia)
- NEP-ENE-2009-02-14 (Energy Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Naghshineh-Pour, Amir, 2008. "A Review and Analysis of Iran’s Current Economic Status," MPRA Paper 13313, University Library of Munich, Germany.
- Naghshineh-Pour, Amir, 2009. "Financial Crisis, Iranian Style," MPRA Paper 13282, University Library of Munich, Germany, revised 09 Feb 2009.
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