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ECONOMIC REFORM IN IRAQ AND THE BASIC CONDITIONS FOR SUCCESSFUL POLICIES -AN ANALYTIC STUDY- | ||
| The Iraqi Journal of Agricultural Science | ||
| Article 1, Volume 38, Issue 1, 2007, Pages 1-14 | ||
| Author | ||
| Abstract | ||
| The objective of this paper is to determine the basis for economic reform in Iraq and to put the conditions for successful policies. To achieve this goal, the reality of Iraq economy had been reviewed for the previous period. Most of these policies were inefficient which caused many crises, in addition wars had contributed in aggravation of these problems during the period 1980-2003, All these factors shared together in the disequilibrium of economic structures and creating many problems such as inflation and unemployment which reached to high rales. Many suggestions had been made especially those related with basic structure of economic reforms through the role of society represented by respecting human rights, law and order and creating the balance between social and private interests. In addition to that State must play an important role through directing economic resources, law legislations and facilitating economic life. Private sector also can play a role by improving the performance of economic firms and to satisfy- society needs through the supply of necessary capital for modern technology. This paper arrived to some conclusions including that some considerations had to be taken when certain economic policy is followed, some of these considerations are the characteristics of Iraq economy, the requirements and recommendations of international financial agencies, such as IMF and WB, these requirements and recommendations must be compatible with the Iraqi economic situation. Some recommendations were forwarded including that it is necessary that all new economic policies must be subjected to the conditions, rules and characteristics of Iraqi market. Private sector must play a role in principal sectors such as industry, agriculture and services. Long run investment must be present in all economic activities. Investment consequences must be reflected in the regions where it takes place. These investments could be domestic or foreign through encouraging foreign capital by different means | ||
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