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The Opportunity Cost of the Islamic Revolution and War for Iran
We estimate the opportunity cost for Iran due to the Islamic revolution and eight years’ war with Iraq (1978/79-1988). We apply the synthetic control method in order to compare Iran with a synthetic Iran and answer this counterfactual question. Our results show that, in total, an average Iranian has...
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| Published in: | MAGKS - Joint Discussion Paper Series in Economics (Band 29-2019) |
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| Main Author: | |
| Format: | Article |
| Language: | English |
| Published: |
Philipps-Universität Marburg
2019
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| Subjects: | |
| Online Access: | PDF Full Text |
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| Summary: | We estimate the opportunity cost for Iran due to the Islamic revolution and eight years’ war with Iraq (1978/79-1988). We apply the synthetic control method in order to compare Iran with a synthetic Iran and answer this counterfactual question. Our results show that, in total, an average Iranian has lost $34,660 (in constant 2010 US$) from 1978 to 1988. This loss is equivalent to 40% of income per capita, which an Iranian could reach at the absence of revolution and war. |
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| Physical Description: | 18 Pages |
| ISSN: | 1867-3678 |
| DOI: | 10.17192/es2024.0624 |