Gulf War Reparations

Rodney J. Morrison

American Journal of Economics and Sociology, 1992, vol. 51, issue 4, 385-385

Abstract: Abstract. On February 27, 1991, the government of Iraq accepted United Nations Security Council Resolution 674, a measure requiring it to pay reparations to the victims of its aggression in the Gulf Crisis of 1990–1991. The economic problems and consequences that may result as Iraq faces the provisions of Resolution 674 are discussed. This latest example of international economic compensation is placed in the context of the transfer problem and the economic debate engendered by the experience of Germany in dealing with its reparations burden after World War I. Lessons gained from this historical example of reparations are then applied to the case of Iraq, one of the world's major petroleum producers, a country that must rely on oil exports to make its reparations payments.

Date: 1992
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