Show simple item record

dc.contributor.supervisorBenhin, James
dc.contributor.authorHussein, Jwan
dc.contributor.otherPlymouth Business Schoolen_US
dc.date.accessioned2015-10-16T07:56:26Z
dc.date.available2015-10-16T07:56:26Z
dc.date.issued2015
dc.identifier10352519en_US
dc.identifier.urihttp://hdl.handle.net/10026.1/3651
dc.description.abstract

Abstract: Since the 1980s, there has been growing recognition among developing countries that an essential foundation for sustainable growth is capital investment, both public and private. While Iraq is an oil-rich country, with substantial oil revenue, only a small proportion of it has been allocated to importing the capital that is most needed, while the rest has mainly been used for consumption purposes. The effects of the oil-driven state development, conflicts, sanctions, high unemployment and delayed reforms have significantly shaped Iraq’s economy and limited the potential for private-sector-led growth over the past 40 years. This conclusion is worrying for a country like Iraq, which has shown some downward trends in private and public investment, both in the total amounts and relative to GDP.

This study, the first of its kind, empirically assesses the pattern of domestic private investment in Iraq and its key determinants over the past four decades. It also examines the issue of the complementarity (crowd-in effect) or substitutability (crowd-out effect) between public capital and private investment in the trend in economic growth. Finally, it evaluates the determinants of public investment, to reveal the indirect impacts oil revenue has on private investment through the increasing of public investment. The thesis employs time-series data and annual datasets covering 1970-2010. Both the ADF and the PP unit root tests are employed to test for the stationarity of the data. Johansen’s cointegration is used to establish the long-run equilibrium relationship among the variables in the models. The VECM is also utilized to examine the short-run dynamics between the variables. The main empirical results support the accelerator principle hypothesis of a positive relationship between GDP and private investment. The McKinnon-Shaw hypothesis is, however, not verified in the case of Iraq but there is some evidence that private investment is crowded in by public investment, and that oil revenue has an indirect effect on private investment.

en_US
dc.description.sponsorshipKurdistan Regional Governmenten_US
dc.language.isoenen_US
dc.publisherPlymouth Universityen_US
dc.subjectIraqen_US
dc.subjectPrivate and public investment
dc.subjectEconomic development.
dc.titleA TIME SERIES ANALYSIS OF PRIVATE AND PUBLIC INVESTMENT IN IRAQ’S ECONOMIC GROWTH PROCESS (1970 – 2010)en_US
dc.typeThesis
plymouth.versionFull versionen_US
dc.identifier.doihttp://dx.doi.org/10.24382/3724
dc.identifier.doihttp://dx.doi.org/10.24382/3724


Files in this item

Thumbnail
Thumbnail

This item appears in the following Collection(s)

Show simple item record


All items in PEARL are protected by copyright law.
Author manuscripts deposited to comply with open access mandates are made available in accordance with publisher policies. Please cite only the published version using the details provided on the item record or document. In the absence of an open licence (e.g. Creative Commons), permissions for further reuse of content should be sought from the publisher or author.
Theme by 
Atmire NV