THE FINANCIAL TIMES: Why an open Iran offers extensive upsides

Iran has been closed for about 35 years, so a recent visit was an unusual event. On the ground, Iran reminded one of earlier economic and market transitions such as Latin America at the turn of the 1990s or Russia and central Europe in the mid-1990s. Salient features include underutilised labour, a state-controlled economy, brain-drain and immature capital markets. However, Iran has some unique characteristics that suggest a nuclear deal could stimulate an accelerated transition.

Read more