The History of Iran’s Modern Economy, 1921–1946

This book examines the modernisation of Iran’s economy during the overlooked period from 1921 to 1946. By cross-analysing new and understudied primary sources from North America, Europe and West Asia, it argues how, in spite of challenging circumstances during these years, the country saw significant achievements in its banking, industrial, foreign trade, commercial and transportation sectors. The book marks a departure from the state–society paradigm’s focus on Reza Shah, instead revealing the coordinated agency of Iranian officials, merchants and others. It asserts that the economic institutions created by these local actors were a clear indication of their nationalist convictions and internationalist outlooks, and that the state policies of this initial phase of Iran’s national economy exhibited more rationality, continuity and global awareness than has been previously assumed.