World economy and international economic relations

The Islamic Republic of Iran and its efforts to reintegrate into the regional and global economic structures

Economic Annals-XXI

Economic Annals-ХХI: Volume 167, Issue 9-10, Pages: 8-12

Citation information:
Cech, L., & Kucharčík, R. (2017). The Islamic Republic of Iran and its efforts to reintegrate into the regional and global economic structures. Economic Annals-XXI, 167(9-10), 8-12. doi: https://doi.org/10.21003/ea.V167-02

View Full-TextDownload PDF

Ľubomír Čech
D.Sc. (History),
Associate Professor,
Head of the Department of International Political Relations,
Faculty of International Relations,
University of Economics in Bratislava
1/b Dolnozemská cesta Str., Bratislava 5, 852 35, Slovak Republic
lubomir.cech@euba.sk
ORCID ID: http://orcid.org/0000-0002-8406-9480

Rudolf Kucharčík
PhD (International Relations),
Dean, Faculty of International Relations,
University of Economics in Bratislava
1/b Dolnozemská cesta Str., Bratislava 5, 852 35, Slovak Republic
rudolf.kucharcik@euba.sk
ORCID ID: http://orcid.org/0000-0002-6131-9491

The Islamic Republic of Iran and its efforts to reintegrate into the regional and global economic structures

Abstract. Signing of the Iran nuclear deal and subsequent lifting of sanctions has led to changes in international economic relations and posed a new challenge especially for Iran itself. Consequently, a new debate emerged over Iran’s readiness to reintegrate into the global economic and financial structures and over the possibilities and limitations resulting from this new situation. This paper attempts to contribute to this debate. Based on the current business environment in the country, it focuses on defining the determinants of Iran’s economic reform and the goals and objectives set out in «Iran’s Sixth Five-year Development Plan for the 2016-2021 period», which promises changes resulting in liberalisation of the country’s economy. Besides the problems that the Islamic Republic of Iran has to deal with, the paper points to positive aspects that can make this country a significant global economic player.

Keywords: Iran’s Economy; Business Environment; Economic Reform; Iran’s Sixth Five-year Development Plan for the 2016-2021 period; Oil and Natural Gas

JEL Classification: F63; O33; Q43

DOI: https://doi.org/10.21003/ea.V167-02

References

  1. Axworthy, M. A. (2009). A History of Iran: Empire of the Mind – from Zarathustra to the Present Day (1st ed.). Prague: NLN (in Czech).
  2. Levčenko, A. (2016, June 2). Iran is back to the global markets: an overview of the most significant economic sectors. The Russian news agency TASS.
    Retrieved from http://tass.ru/pmef-2016/article/3333962 (in Russ.)
  3. Dabrowski, M. (2016, July 15). Iran: from isolation to economic cooperation. The Bruegel Newsletter.
    Retrieved from http://bruegel.org/2016/07/iran-from-isolation-to-economic-cooperation
  4. Amin, M. (2017, May 25). Iran: Rouhani’s Re-Election Is Not the Key to the Country’s Economic Recovery. Gatestone Institute.
    Retrieved from https://www.gatestoneinstitute.org/10396/iran-rouhani-election
  5. Perteghella, A. (2015). What’s Next for Rouhani? In P. Magri, & A. Perteghella (Eds.). Iran After the Deal: The Road Ahead (pp. 49-60). Milano: ISPI.
    Retrieved from http://www.ispionline.it/sites/default/files/pubblicazioni/iran_after_the_deal.pdfedition_0.pdf
  6. Lipton, D. (2016, May 17). Iran – Achieving its Potential in the Global Economy. International Monetary Fund.
    Retrieved from https://www.imf.org/en/News/Articles/2015/09/28/04/53/sp051716
  7. Bazoobandi, S. (2015). Iran’s Economy and Energy: Back in Business? In P. Magri, & A. Perteghella (Eds.). Iran After the Deal: The Road Ahead (pp. 25-48).Milano: ISPI.
    Retrieved from http://www.ispionline.it/sites/default/files/pubblicazioni/iran_after_the_deal.pdfedition_0.pdf
  8. Tůma, M. (2016). Iran Nuclear Deal and its International Context. Prague: The Institute of International Relations (in Czech).
  9. Horská, H. (2016). Iran – Opportunities and Risks of the Market Reintegration. Raiffeisenbank.
    Retrieved from https://www.rb.cz/attachments/Corp/RB_Helena_Horska_Brno.pdf (in Czech)
  10. Habibi, N. (2015, August 11). Iran’s frozen funds: how much is really there and how will they be used? The Conversation.
    Retrieved from http://theconversation.com/irans-frozen-funds-how-much-is-really-there-and-how-will-they-be-used-45913
  11. Shahine, A. (2013). Iran Central Banker Says He’s Undoing Ahmadinejad Policy.
    Retrieved from http://www.bloomberg.com/news/articles/2013-10-13/iran-central-banker-says-he-s-undoing-ahmadinejad-policy.html
  12. Alves, J. P., & Felisbert, M. (2016). Global reintegration of the Iranian economy after the nuclear deal. Boletim de conjuntura, 1(1), 1-95.
    Retrieved from https://www.ufrgs.br/nerint/wp-content/uploads/2016/07/Boletim-v1n1-economicreintegrationiran.pdf
  13. Habánik, T. (2017). Economic Information on the Territory. The Islamic Republic of Iran. The Embassy of the Slovak Republic in the Islamic Republic of Iran. In The Ministry of Foreign and European Affairs of the Slovak Republic,1-32.
  14. Khajehpour, B. (2016, June 13). Will New 5-year Plan Solve Iran’s Economic Problems? The Iran Business News.
    Retrieved from http://www.iran-bn.com/2016/06/13/will-new-5-yr-plan-solve-irans-economic-problems
  15. East Consulting (2016, September 5). Iran: from the international isolation towards the future.
    Retrieved from http://eastconsulting.ru/iran-budushhee (in Russ.)
  16. Podnikam.sk (2015). Ten Countries with Massive Crude Oil Reserves.
    Retrieved from http://podnikam.webnoviny.sk/10-krajin-s-masivnymi-ropnymi-zasobami (in Slovak)
  17. U.S. Energy Information Administration (EIA) (2015). Iran: Overview.
    Retrieved from http://www.eia.gov/countries/cab.cfm?fips=ir
  18. The Oil Exchange (2015). Iran.
    Retrieved from https://theoilexchange.wordpress.com/country-profiles/iran
  19. Katzman, K. (2017). Iran’s Foreign and Defence Policies. Congressional Research Service Report.
    Retrieved from https://fas.org/sgp/crs/mideast/R44017.pdf
  20. Tretiakov, E. (2016). Return of Iran. Sibirskaya neft (Siberian Oil), 130.
    Retrieved from http://www.gazprom-neft.ru/press-center/sibneft-online/archive/2016-april/1113030 (in Russ.)
  21. Nephew, R., & Salehi-Isfahani, D. (2015). Implications of Sustained Low Oil Prices on Iran. 2015. New York: Columbia University.
    Retrieved from http://energypolicy.columbia.edu/sites/default/files/
    Implications%20of%20Sustained%20Low%20Oil%20Prices%20on%20Iran_July%202015.pdf
  22. Vakhshouri, S. (2015). Iran’s Energy Policy After the Nuclear Deal. Atlantic Council Global Energy Center.
    Retrieved from https://www.files.ethz.ch/isn/195141/Iran_Energy_Policy.pdf
  23. Johnson, K. (2015, June 25). The Next Iranian Revolution. Foreign Policy Group
    Retrieved from http://foreignpolicy.com/2015/06/25/the-next-iranian-revolution-oil-gas-opec-eu-sanctions
  24. Tureček, B. (2013). The Iranian Labyrinth, Journey into the Empire and Sources of its Resistance. Prague: Knižní klub (in Czech).
  25. Bassiri Tabrizi, A. (2015). The nuclear Deal: Exploiting its Potential. In P. Magri, & A. Perteghella (Eds.). Iran After the Deal: The Road Ahead (pp.13-26).Milano: ISPI.
    Retrieved from http://www.ispionline.it/sites/default/files/pubblicazioni/iran_after_the_deal.pdfedition_0.pdf
  26. TASR (2016, February 15). China Renewed the Famous Silk Road, the First Train Arrived in Iran Hospodárske Noviny (Economic News).
    Retrieved from http://dennik.hnonline.sk/ekonomika-a-firmy/536385-cina-obnovila-slavnu-hodvabnu-cestu-do-iranu-dorazil-prvy-vlak (in Slovak)
  27. McKinsey Global Institute (2016). Iran: The 1 Trillion Growth Opportunity. McKinsey & Company.
    Retrieved from http://mahdi.hashemitabar.com/cms/images/Download/mckinsey-global-institute-report-on-iran-economy-english.pdf

Received 14.10.2017

View Full-TextDownload PDF
In, , , , , ,

More Papers