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Oil price and economic development in the Persian Gulf countries | ||
| Iraqi Journal For Economic Sciences | ||
| Article 1, Volume 0, Issue 9, 2017, Pages 145-166 | ||
| Abstract | ||
| Has emerged since the last quarter of the last century and are clearly the role of developing countries, particularly the role of OPEC, the global economy. Has managed the Organization of Petroleum Exporting Countries, OPEC, to extend its sovereignty over its oil wealth (nationalization) in the seventies of the last century, coincided with the the high price of oil, which lasted until the end of the decade, it increased the official price for a barrel of crude oil from 1.2 dollars in 1970 to $ 36 reached in 1980, | ||
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