Abstract
The developing economies focused their production and export activities on a few primary materials. In economies that concentrate their exports on crude oil, such as the Iraqi economy, these economies suffer from general structural distortions and are constantly subject to severe fluctuations in the values of their total exports, and then in their other economic indicators, especially trade balance, balance of payments, the state’s public budget, as well as the growth rates of investment, national income and employment. Thus, the relationship between the external sector and the domestic economy has become complicated, and numerous challenges have emerged for the development, especially the overall, processes, which require the identification of the main factors for the strategic transformation of the national economy as a whole.
Highlights
The developing economies, including the Iraqi economy, are specialized in producing and exporting one raw material or a very limited number of primary products: extractive and / or agricultural
2.How can foreign capital trends be shifted in favour of the structural balance and integration in the developing economy ?
The structural distortions spread to all the concerned economies through several channels, the most important of which are: the balance of payments and the general budgets of the state
Summary
The developing economies, including the Iraqi economy, are specialized in producing and exporting one raw material or a very limited number of primary products: extractive and / or agricultural. For Iraq, the concentration in crude oil reaches about 90% of the total exports as a general average (Ministry of Justice, February 2019). This is reflected in a major distortion of the national economic structure, especially in the external sector indicators: the trade balance and the balance of payments. This sector has grown and become the largest and most important sector in the developing economy. The structural distortions spread to all the concerned economies through several channels, the most important of which are: the balance of payments and the general budgets of the state
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