- Jahangir Amuzegar
- Published Date:
- April 1983
International Standard Serial Number: ISSN 0251-6365
Reprinted July 1984
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External Relations Department, Attention Publications
International Monetary Fund, Washington, D.C. 20431
The following symbols have been used throughout this paper:
… to indicate that data are not available;
— to indicate that the figure is zero or less than half the final digit shown, or that the item does not exist;
– between years or months (e.g., 1979–81 or January–June) to indicate the years or months covered, including the beginning and ending years or months;
/ between years (e.g., 1980/81) to indicate a crop or fiscal (financial) year.
“Billion” means a thousand million.
Minor discrepancies between constituent figures and totals are due to rounding.
This study was undertaken at the urging of the Executive Board of the Fund for the purpose of identifying policy options through which the major oil exporting countries could best achieve their national economic objectives while contributing to the international adjustment process.
The author was assisted in this study by a number of Fund staff members. The first part of Chapter III and the second part of Chapter II draw heavily on a previous working paper by Andrew D. Crockett and Morris Goldstein of the Research Department. The initial draft of the second part of Chapter III was prepared by Amor Tahari of the African Department. It also took note of a separate paper by Hassanali Mehran of the Central Banking Department. Statistical data for some of the tables were provided by various Fund staff members.
The paper has benefited greatly from contributions and helpful comments by the Managing Director, members of the Executive Board, the Fund staff, and the staffs of several national and international organizations, most particularly the United Nations Conference on Trade and Development, the Organization of Petroleum Exporting Countries, the OPEC Fund for International Development, the International Energy Agency, the International Fund for Agricultural Development, and France’s Bureau de Recherches Géologiques et Minières. The author is especially indebted to his Fund colleagues Andrew D. Crockett and Subimal Mookerjee who read the entire first draft and made extensive and highly valuable suggestions. The author is also deeply grateful to the Secretary-General of the United Nations Conference on Trade and Development, Gamani Corea, and his colleagues Dragoslav Avramovic and Taher Kanaan; the Secretary-General of the Organization of Petroleum Exporting Countries, Marc S.N. Nguema; the Director-General of the OPEC Fund for International Development, Ibrahim F.I. Shihata; Ryuichiro Yamazaki of the International Energy Agency; and the Director-General of the French Bureau de Recherches Géologiques et Minières, Alan Dangeard, all of whom individually or jointly with their staffs reviewed the final draft and offered fruitful advice.
Responsibility for the content of the study, including any errors of judgment or analysis, however, remains solely with the author. Opinions expressed in the paper do not necessarily reflect the views of the International Monetary Fund or its Executive Directors, nor those of the paper’s individual contributors.