If the United States lifted sanctions on Iran and the nation liberalized its economic regime, the world price of oil could fall by 10 percent and Iran’s gross domestic product (GDP) could increase by 23 percent annually, according to a new paper developed by economists Dean DeRosa and Gary Hufbauer. The paper, Normalization of Economic Relations: Consequences for Iran’s Economy and the United States, was commissioned by USA*Engage, and explores the effects of lifting U.S. sanctions on Iran and how such a shift in policy could impact the world economy, the U.S. and Iranian economies, U.S. multinational corporations, the international oil-and-gas sector, and the price of oil.
The report can be accessed here.
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