Measuring and analyzing the impact of oil revenues on sustainable development in Iraq for the period (2003-2020)
Mohammed Ahmed Mohammad Al-Jubouri, Zuhair Hamid Turki and Wissam Hatem Salman
The importance of oil is due to its position as a strategic raw material and its practical impact on various economic activities. It plays a vital role in determining the course and nature of sustainable development and is an essential source of income for oil-producing countries. Its importance is highlighted as an essential product in foreign trade. The oil sector also constitutes the backbone of the Iraqi economy, as is the case in other oil-producing countries, and is still the dominant sector in the Iraqi economy. This study addressed the oil revenues of Iraqi crude oil exports and the possibility of investing these revenues in sustainable development. The research aimed to shed light on the importance of oil revenues in Iraq and the possibility of investing them in building sustainable development with a positive impact on current and future generations, as they have a legitimate right to this wealth, and therefore, it must be invested well. The results of the study showed that increasing oil revenues by (1%) contributes positively to increasing the average national income per capita by (0.03%). The relationship between oil revenues and unemployment does not show statistical significance in the short or long term, and the results indicate that the probability levels exceed the traditional threshold of 5%. In addition, the results showed a strong positive relationship between oil revenues and carbon dioxide emissions, indicating that increasing oil revenues by (1%) leads to a significant increase in carbon dioxide emissions by (4%).
Mohammed Ahmed Mohammad Al-Jubouri, Zuhair Hamid Turki, Wissam Hatem Salman. Measuring and analyzing the impact of oil revenues on sustainable development in Iraq for the period (2003-2020). Int J Finance Manage Econ 2024;7(2):195-205. DOI: 10.33545/26179210.2024.v7.i2.362