The Role of Values in Economic Development: A Case Study of Iraq

Abdulrahman, Ismael Mustafa; Yahya, Nazar A; Ahmed, Younis A

doi:10.33899/tanra.2023.180492.1300

	The Role of Values in Economic Development: A Case Study of Iraq
TANMIYAT AL-RAFIDAIN
Volume 42, Issue 139, September 2023, Pages 348-374 PDF (1.25 M)
Document Type: Research Paper
DOI: 10.33899/tanra.2023.180492.1300
Authors
Ismael Mustafa Abdulrahman^* ¹; Nazar A Yahya¹; Younis A Ahmed²
¹Soran Technical College, Erbil Polytechnic University, Erbil, Iraq
²Department of Economics, College of Administration and Economics, University of Sulaimani, Sulaimani, Iraq
Abstract
Since human beings are the goal of development and its primary means, the success and failure of development primarily belong to humans. As social beings, they are influenced by their environment, including the prevailing values in society. Values constitute the superstructure of society, which plays a crucial role in the formation of institutions, systems, laws, and practices that can either support or hinder economic development efforts. This research aims to measure the impact of values on economic development in Iraq by categorizing values into three groups: economic, social, and political. The research problem is that despite the importance of values in consolidating factors that support economic development, Iraqi society has experienced unfavorable conditions that do not promote the formation of a value system that supports economic development. This research is essential due to its vital topic, the selection of a set of values in three groups, and the use of advanced estimation techniques. The research relied on data from the Global Values Survey platform, for the period from 2010 to 2022, and necessary tests were conducted to ensure the data's stability and the co-integration between variables. The estimation process was conducted using the Error Correction Model to measure the impact of independent variables on the dependent variable. The research concluded that the three groups of values have a positive and significant impact on economic development. The research recommends focusing on promoting noble values in school curricula and media programs.
Keywords
Economic development; economic values; social values; political values; Iraqi society

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