نحوه مواجهه با مازاد درآمد نفتي در سه تجربه جهش قيمت نفت

Three Oil Price Hikes and Handling of Surplus Petrodollars in Iran

For the last fifty years the question of sudden rise in oil revenues and its impact on the economy and national development have been subject to various interpretation worlds over.Dismal performance of oil rich countries and misutilisation of oil wealth is known as Dutch diseases in developed countries while these phenomena are referred to as resource curse or resource blight in developing countries, the title given to these phenomenon vividly illustrate how exogenous revenue shocks are harmful for countries in the world implying there by that the decision making system and resource allocation mechanism should devise policy programme in such a way to convert the threats arising from such sources to opportunities for growth and development. In this paper we have followed a comparative approach tracing three historical occasions when Iran face with such high windfall gain in oil revenue to examine the Impact of such high exchange earnings.The result of our study indicates that there is a common similarity between the first and third periods but both of them are different from the second. The second event happened at a time when the country was experiencing new approach in its management and development. Being the initial stage of Islamic republic facing with much more complicated challenges and problems but was able to better manage its oil revenues by following a neat, clean and prudential policy.