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Alnasrawi contends that Arab economic development was shaped by Arab nationalist thought, the emergence of the oil industry in the Arab region, and the integration of Arab economies into the international economic system.

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Alnasrawi contends that the economic development of Iraq was shaped by the rise in oil revenue, the war between Iran and Iraq, and the invasion of Kuwait and its aftermath.

The discussion begins with the burst of Iraq's oil industry and the development policies under the monarchy.