New Economic Model for Iraq Future Vision and Market-Oriented State Corporations Foster Liberalization of Oil-Rentier Economies

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Authors
Al-Saadi, Sabri Zire
Subjects
Advisors
Date of Issue
2012-06-01
Date
6/1/2012
Publisher
Naval Postgraduate School (U.S.)
Program for Culture and Conflict Studies
Language
Abstract
"Iraq's loaded experience is a thought-provoking case for better understanding of the potentialities of the oil-rentier developing countries. Over the last six decades, Iraq underwent radical economic and violent political changes. Since 1952, oil revenues play an important role in the country's economic, social, and political development. During the 1950's, 1960's & 1970's, the governments' utilization of oil revenues, though not always efficient, was promising for building the country's infrastructure, increasing economic growth, as well as improving the living standards. Significantly, the economic model of the 1970's was characterized by the dominance of the state where the share of public sector in GDP has substantially increased, especially in crude oil and mining extraction industry, petrochemical industry, banking, trade, manufacturing industries, and agriculture. However, since 1980, Iraq has suffered from major devastating three wars and economic decline and costly political events that resulted in the fall of Saddam's dictatorial regime which followed by more deterioration of the prevailing conditions. In addition to the political and security problems, Iraq at present is facing many difficult socio-economic challenges: the poverty; sluggish real growth; high unemployment; low productivity; low standards of living; and widespread corruption. In a wider geopolitical context and given the lessons learned from recent global financial crises and world economic slowdown, Iraq's awaited economic model that should benefit from the actual experience of globalization positives and negatives, could also generate far-reaching political and economic impact on the security and prosperity of the unstable strategic Middle East region that is rich in oil and gas."
Type
Description
This article was published in Culture and Conflict Review (Summer 2012), v.6 no.2
Series/Report No
The Culture and Content Review (Journal), 2007-2012
Department
Organization
Center on Contemporary Conflict (CCC)
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NPS Report Number
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Format
Citation
Culture and Conflict Review (Summer 2012), v.6 no.2
Distribution Statement
Rights
This publication is a work of the U.S. Government as defined in Title 17, United States Code, Section 101. Copyright protection is not available for this work in the United States.
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