Lifting Economic Sanctions on Iran
Lifting Economic Sanctions on Iran
This paper uses a global general equilibrium simulation model to quantify the effects of lifting economic sanctions on Iran with and without strategic responses. Iran benefits the most, with average per capita welfare gains ranging from close to 3 percent, in the case when Iran's crude oil exports to the European Union recover to half their pre-embargo level, to 6.5 percent, in the best case of complete recovery of oil exports to the European Union, successful domestic reforms that enable a strong supply response, and increased market access for Iranian exports in developed markets. Iran could achieve benefits close to the upper range if Gulf Cooperation Council oil exporters limit their crude oil exports to support the oil price. If they do nothing, however, the price of oil will decline by 13 percent in the case of complete recovery of oil exports to the European Union, leaving net oil importers better off and net oil exporters worse off.
- World Bank United States
- World Bank United States
MARKET ACCESS, WOOD PRODUCTS, NET OIL, INVESTMENT, DOMESTIC OIL, GLOBAL MARKET, TAX, GENERAL EQUILIBRIUM, ECONOMIC GROWTH, APPROACH, TARIFF BARRIERS, CHEMICAL PRODUCTS, OIL EXPORTERS, WATER, OIL SUPPLY, CARS, OUTCOMES, PRODUCTIVITY, CRUDE OIL, COMPETITIVENESS, FINANCIAL TRANSACTIONS, SUPPLY RESPONSE, OIL, ECONOMIC RESTRICTIONS, PER CAPITA INCOME, GAS, REGIME CHANGE, AUTO PRODUCTION, ACTIVITIES, GOODS, FOREIGN COMPETITION, DOMESTIC OIL CONSUMPTION, WORLD PRICE, OIL IMPORTS, OIL USE, OIL DEMAND, TARIFF, TARIFFS ON IMPORTS, DEVELOPMENT ECONOMICS, MARKETS, EXPORTERS, PRICES, WAGES, EXCESS DEMAND, GLOBAL ECONOMY, TRADE BARRIERS, PETROLEUM, WELFARE, WORLD PRICES, PRODUCTION, AGRICULTURAL COMMODITIES, ELASTICITY, OIL ACCOUNTS, MOTOR VEHICLES, CONSUMPTION, STRUCTURAL CHANGE, AUTOMOBILE PRODUCTION, THEORY, DEVELOPMENT POLICY, EXPORT REVENUE, TRUE, BORDER TRADE, CANE, TRADE, EQUILIBRIUM, SUPPLY, PAYMENTS, OIL IMPORTERS, AUTOMOBILE, TRADING BLOCS, COSTS, OWNERSHIP STRUCTURE, BARRELS PER DAY, CENTRAL BANK, AGRICULTURE, DEMAND, CONSUMERS, WTO, ELECTRICITY, GDP, ENERGY, COAL, UTILITY FUNCTION, TRADING PARTNERS, BASE YEAR, CAPITAL, OIL MARKET, ECONOMIC IMPLICATIONS, OIL CONSUMPTION, UTILITY, EXPORTS, CAPITAL USE, ECONOMIES, AIR, EFFICIENCY IMPROVEMENTS, OIL EXPORTING COUNTRIES, POLICIES, DRIVING, BENCHMARK, INTERNATIONAL TRADE, OIL PRICES, REFINED PETROLEUM PRODUCTS, OIL IMPORTING COUNTRIES, TRAVEL, VEHICLES, EFFICIENCY IMPROVEMENT, PRICE, TAXES, OIL EXPORTS, BILATERAL TRADE, CAPITAL GOODS, TIME HORIZON, GAS TECHNOLOGY, POWER, ECONOMY, TRANSPORT SERVICES, IMPORTS, NATURAL GAS, SUGAR CANE, TRANSPORT COSTS, OIL OUTPUT, TRADE REGIME, BENEFITS, AUTOMOBILES, SEA TRANSPORT, OIL PRICE, ANIMAL PRODUCTS, OILS, WORLD ECONOMY, AIR TRANSPORT, EXPORT COMMODITY, TRADE RESTRICTIONS, PRODUCT DIFFERENTIATION, OIL PRODUCTION, PRICE OF OIL, INPUTS, TRANSPORT, TRANSPORTATION, TOTAL FACTOR PRODUCTIVITY, TRANSPORT EQUIPMENT, CRUDE OIL EXTRACTION, PETROLEUM PRODUCTS
MARKET ACCESS, WOOD PRODUCTS, NET OIL, INVESTMENT, DOMESTIC OIL, GLOBAL MARKET, TAX, GENERAL EQUILIBRIUM, ECONOMIC GROWTH, APPROACH, TARIFF BARRIERS, CHEMICAL PRODUCTS, OIL EXPORTERS, WATER, OIL SUPPLY, CARS, OUTCOMES, PRODUCTIVITY, CRUDE OIL, COMPETITIVENESS, FINANCIAL TRANSACTIONS, SUPPLY RESPONSE, OIL, ECONOMIC RESTRICTIONS, PER CAPITA INCOME, GAS, REGIME CHANGE, AUTO PRODUCTION, ACTIVITIES, GOODS, FOREIGN COMPETITION, DOMESTIC OIL CONSUMPTION, WORLD PRICE, OIL IMPORTS, OIL USE, OIL DEMAND, TARIFF, TARIFFS ON IMPORTS, DEVELOPMENT ECONOMICS, MARKETS, EXPORTERS, PRICES, WAGES, EXCESS DEMAND, GLOBAL ECONOMY, TRADE BARRIERS, PETROLEUM, WELFARE, WORLD PRICES, PRODUCTION, AGRICULTURAL COMMODITIES, ELASTICITY, OIL ACCOUNTS, MOTOR VEHICLES, CONSUMPTION, STRUCTURAL CHANGE, AUTOMOBILE PRODUCTION, THEORY, DEVELOPMENT POLICY, EXPORT REVENUE, TRUE, BORDER TRADE, CANE, TRADE, EQUILIBRIUM, SUPPLY, PAYMENTS, OIL IMPORTERS, AUTOMOBILE, TRADING BLOCS, COSTS, OWNERSHIP STRUCTURE, BARRELS PER DAY, CENTRAL BANK, AGRICULTURE, DEMAND, CONSUMERS, WTO, ELECTRICITY, GDP, ENERGY, COAL, UTILITY FUNCTION, TRADING PARTNERS, BASE YEAR, CAPITAL, OIL MARKET, ECONOMIC IMPLICATIONS, OIL CONSUMPTION, UTILITY, EXPORTS, CAPITAL USE, ECONOMIES, AIR, EFFICIENCY IMPROVEMENTS, OIL EXPORTING COUNTRIES, POLICIES, DRIVING, BENCHMARK, INTERNATIONAL TRADE, OIL PRICES, REFINED PETROLEUM PRODUCTS, OIL IMPORTING COUNTRIES, TRAVEL, VEHICLES, EFFICIENCY IMPROVEMENT, PRICE, TAXES, OIL EXPORTS, BILATERAL TRADE, CAPITAL GOODS, TIME HORIZON, GAS TECHNOLOGY, POWER, ECONOMY, TRANSPORT SERVICES, IMPORTS, NATURAL GAS, SUGAR CANE, TRANSPORT COSTS, OIL OUTPUT, TRADE REGIME, BENEFITS, AUTOMOBILES, SEA TRANSPORT, OIL PRICE, ANIMAL PRODUCTS, OILS, WORLD ECONOMY, AIR TRANSPORT, EXPORT COMMODITY, TRADE RESTRICTIONS, PRODUCT DIFFERENTIATION, OIL PRODUCTION, PRICE OF OIL, INPUTS, TRANSPORT, TRANSPORTATION, TOTAL FACTOR PRODUCTIVITY, TRANSPORT EQUIPMENT, CRUDE OIL EXTRACTION, PETROLEUM PRODUCTS
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