ABSTRACT
Since 1979, Iran has witnessed important socio-economic and institutional changes and has been affected by significant economic and political upheavals. These years have witnessed a succession of oil booms and busts, external war, trade sanctions and, more recently, heightened internal strife within the state. After nearly three decades, however, Iran’s political outlook seems unclear to most observers, and the economic record is equally lacklustre with many Iranians experiencing a considerable retrogression in their living standards by regional and international standards.1
