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Geopolitical and economic variables of the fall of oil prices and their effects on the Iraqi Economy | ||
| Al-Adab Journal | ||
| Article 1, Volume 0, Issue 122, 2018, Pages 447-470 | ||
| Authors | ||
| Zaid Ali Hussein; Jabbar Abdul Jbeil | ||
| Abstract | ||
| The oil sector is of great importance in the Iraqi economy, because of the size of its contribution to the foreign trade which is more than 96% of the financial returns in the last years ,especially before the crisis. Those financial returns refund the government's budget and are the main source of funding its developmental programs .But, the status of this sector has begun to differ as a result of the continued fall of oil prices in 2014, and thus structural imbalances have emerged in the performance of the Iraqi economy. Moreover, the lack of diversification and unilateral production has made the state rentier and its production capacity monopolistic in oil production. Therefore, this research is to study the factors that led to the collapse of oil prices suddenly and to clarify the reality of the Iraqi economy and the effects of the fall of oil prices on it . | ||
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