Iraq's Future: Will Oil Be a Blessing or Curse?

Abstract

A curse pretty much characterizes the role played Iraq's oil wealth over the last several decades. As with its past, Iraq's future will depend largely on developments in that sector and how, the new Iraqi government manages the revenues derived.from oil exports. Is there a strategy the Iraqi authorities can put in place that offers some hope in avoiding the spectrum of problems that have plagued almost all other developing country oil exporters?