OIL AND ECONOMIC DEVELOPMENT IN OPEC COUNTRIES, WITH CASE STUDIES ABOUT IRAQ AND ALGERIA (GROWTH, INDUSTRY, PETROCHEMICAL)

This dissertation examines the impact of the increase in oil prices in l973 and thereafter on economic development in the Organization of Petroleum Exporting Countries (OPEC) in general, and in Iraq and Algeria in particular. It attempts to investigate the extent to which these countries have succeeded in utilizing oil revenues to achieve their projected goals: Diversification of their economies in order to reduce dependence on exporting crude oil which is an exhaustible resource; Acceleration of the rate of growth of the non-oil sector in order to increase its contribution to GDP and foreign exchange earnings as well as to maintain the growth of the economy in the post-oil age.