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Throughout the book, the authors examine a range of policies and institutional reform measures necessary to tackle the structural problems of the Iraqi economy.
This groundbreaking volume offers a comprehensive look at the current state of IraqÕs political economy in the aftermath of the US-led overthrow of Saddam Hussein in 2003. Frank R. Gunter describes the unique difficulties facing the modern Iraqi economy and provides detailed recommendations for fostering future economic growth and stability. The book begins with an overview of IraqÕs current political, economic, and social status, including discussions of real growth, unemployment, inflation, health, poverty, education, and gender issues. This is followed by a comprehensive look at what the author identifies as the three dominant characteristics of the political economy of Iraq: corruption, political instability, and petroleum. Using these foundational ideas as a springboard, the book then provides a detailed breakdown of the Iraqi economy by sector, as well as discussions of IraqÕs fiscal, monetary, and exchange rate policies. The final chapter identifies the major trends that will determine the course of future economic development in Iraq and provides insightful recommendations for encouraging positive economic growth. Offering the most comprehensive and timely discussion of IraqÕs economy to date, this critical volume will appeal to students and professors of international studies, political economy, and Middle East studies as well as anyone considering doing business in this rapidly changing economy.
Iraq's economy is rebounding thanks to rising oil output and a recovery in domestic economic activity after the pandemic. Higher government oil revenues, driven by increased export prices and quantities, have significantly strengthened the fiscal position and international reserves. Without deeper structural reforms and economic diversification, Iraq's extreme oil dependence leaves it vulnerable to commodity price volatility. Persistent high oil prices bode well for the economic outlook, but global demand is expected to gradually weaken. Downside risks to the economic outlook relate to further weakening of global demand, insecurity and political instability, and renewed inflationary pressures. Vulnerabilities could further be amplified by intensifying climate change shocks both in physical and financial terms. Furthermore, Iraq's dependence on oil leaves it vulnerable to new economic risks amid the global transition towards a decarbonized world. A new government was confirmed into office in October 2022, marking a new opportunity to implement reforms towards economic diversification, tackling longstanding structural challenges and addressing climate challenges.
This paper describes the Coalition Provisional Authority's attempts to stabilize and reform Iraq's economy along market lines. It argues that while security concerns remain serious, Iraq's economy has not been crippled by violence. However, sustained economic growth will depend on whether Iraq's future leaders pursue the pro-market approaches the Coalition has advocated. If the Iraqi economy is to reach its potential, it will need to go even farther than the Coalition did, implementing reforms the Coalition did not pursue because of security concerns. A version of this paper is forthcoming in the Journal of Economic Perspectives.
This systematic evaluation of Iraq’s political economy and human development offers a complex and sophisticated analysis of Iraq’s recent history. Focusing on the period from 1950 up to the Gulf war in 1990, the book brings an understanding of how development has been shaped or constrained in this much misunderstood country. The author employs the human development paradigm to link human development and human rights to the analysis of political economy. The resulting scholarship, on income and investment, education and health, the status of women, and human rights, presents a nuanced, balanced - but critical - appraisal of the complex interrelationships between economic growth and development and illustrates the fragility of that development, especially when political institutions fail to keep up with the rapid expansion in human capabilities. Providing the historical analysis needed to understand Iraq’s current political situation, this book will be of great interest to scholars of development studies, Iraq, and political economy.
The Iran-Iraq War were one of the longest and most devastating uninterrupted wars amongst modern nation states. It produced neither victor nor vanquished and left the regimes in both countries basically intact. However, it is clear that the domestic, regional and international repercussions of the war mean that 'going back' is not an option. Iraq owes too much to regain the lead it formerly held in economic performance and development levels. What then does reconstruction mean? In this book, Kamran Mofid counteracts the scant analysis to date of the economic consequences of the Gulf War by analysing its impact on both economies in terms of oil production, exports, foreign exchange earnings, non-defence foreign trade and agricultural performance. In the final section, Mofid brings together the component parts of the economic cost of the war to assign a dollar value to the devastation.
Well-considered answers to the many questions raised by the situation in Iraq, past and present, are rare. This first comprehensive, thematically organised, bibliography devoted to Iraq is based on the full Index Islamicus database and is drawn from a wide variety of European-language journals and books. Featuring an extensive introduction to the subject and its literature by Peter Sluglett, this bibliography will help readers to find their way through the massive secondary literature now available. Following the pattern established by the Index Islamicus, both journal articles and book publications are included, as well as important internet resources. The editors have taken care to add much new material to bring its coverage up to date, and supplement the previously published volumes, while the most important and/or influential publications are conveniently highlighted in the introduction. An indispensable gateway for all those with a more than superficial interest in what is, and what has been, happening in this nation so much the focus of attention today.
Armies of Arabia is the first book to comprehensively analyze the armed forces of the Gulf monarchies. Zoltan Barany explains the conspicuous ineffectiveness of Gulf militaries with a combination of political-structural and sociocultural factors. Following a brief exposition on their historical evolution, he explores the region's six armies of the region comparatively, through the lenses of military politics, sociology, economics, and diplomacy. The book'sthemes come together in the last chapter that critically evaluates the Saudi and Emirati armed forces' record in the on-going war in Yemen.
Consistent with the literature on state building, failed states, peacekeeping and foreign assistance, this book argues that budgeting is a core state activity necessary for the operation of a functional government. Employing a historical institutionalist approach, this book first explores the Ottoman, British and Ba'athist origins of Iraq's budgetary institutions. The book next examines American pre-war planning, the Coalition Provisional Authority's rule-making and budgeting following the invasion of Iraq in 2003, and the mixed success of the Coalition's capacity-building programs initiated throughout the occupation. This book sheds light on the problem of 'outsiders' building states, contributes to a more comprehensive evaluation of the Coalition in Iraq, addresses the question of why Iraqis took ownership of some Coalition-generated institutions, and helps explain the nature of institutional change.