Economic Development and Institutional Economic Mechanisms In Emerging Countries: A Case of Iraq

Abstract

The institutional economy is concerned with the role of enterprises in economic activity, access to efficiency, and shaping economic behavior. Because institutional procedures are critical in various productive activities, a state suffering from decline and a lack of institutional practices will not advance economically. It also emphasizes the importance of Conducting extensive research on institutions and market views and the many interactions between persons and institutions in society to improve the position of society's members and the state as a whole on both the local and local international level. This study aims to illustrate the historical context of the institutional economy and its contemporary advancements. It seeks to show the dynamics behind current institutional economies. Finally, it tries to provide light on Iraq's institutional architecture through several indicators. The findings reveal that Iraq's institutional economy is deteriorating across several economic sectors, which has resulted in rampant corruption. In addition, restricted limits on productive activity have harmed the country's economic progress.

The Economic Cost of Terrorism in Iraq: preliminary assessment

“…Rough calculations suggest that the expenditures associated with displaced people in Iraq will equal 20 billion dollars between 2009 and 2020 (M. A. Ali & Al-Yasiri, 2021). In contrast, Iraq's Minister of Planning has claimed that the country needs 34 trillion dinars (23.129 billion dollars) to end the catastrophe of displaced people (Al-Yasiri, 2021a).…”

Global Energy Demand For Different Energy Sources: Current Status and Future Prospects

“…The radical changes and turmoil in the Arab region could negatively affect the energy sector, as these events (ISIS expansion, Yemen war, ...) reinforce the global awareness of the potential or the dependence of energy-consuming countries on the volatile Middle East (Ali & Al-Yasiri, 2021). This type of conflict will likely develop within resource-rich nations because competing groups will compete with each other to win the largest share of wealth.…”

“…This recorded a significant increase from 2000 when production amounted to 1.1 million barrels per day. Most of it will come from Oil sands in Canada and petroleum tar in Venezuela (Ali & Al-Yasiri, 2021). However, it is also indicated that about 3000 billion barrels of unconventional oil reserves can be recovered.…”