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The Impact of Sanctions on the Economy of Iran

Author

Listed:
  • Ali feghe majidi

    (Assistant Professor, Department of Economics , University of Kurdistan, Sanandaj, Iran)

  • Zahra zarouni

    (student MA at the Economic Sciences, Department of Economics, University of Kurdistan, Sanandaj, Iran)

Abstract

Nowadays, economy as the basis of wealth and power plays a crucial role in order to achieve economic growth and development. It has also been the interest to policy makers of Iran and there have been a lot of economic plans to achieve economic development. In this context, Economic sanctions have been an obstacle to achieve this goal. In this paper, the impacts of sanction on Iranian economy, specifically, on macroeconomic variable have been investigated, using descriptive-analysis method. Sanction has been affected a large part of Iran economy; limiting access to finance and foreign exchange, decreasing investment, rising unemployment and inflation and led to economic slowdown. However, it seems to reduce the economy's dependence on oil, improve domestic production capacity and reduce vulnerability to external factors are the opportunities created by the sanctions.

Suggested Citation

  • Ali feghe majidi & Zahra zarouni, 2016. "The Impact of Sanctions on the Economy of Iran," International Journal of Resistive Economics, Toroudshomal Research-Industrial Company, vol. 4(1), pages 84-99, January.
    • Handle: RePEc:trd:journl:v:4:y:2016:i:1:p:84-99
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