Iraq: emergence of a new nation from the ashes

Mehdi Hafedh, Ibrahim Akoum, Imad J. Zbib and Zafar U. Ahmed

International Journal of Emerging Markets, 2007, vol. 2, issue 1, 7-21

Abstract: Purpose - To shed light on the political economy aspect of post‐conflict reconstruction in Iraq and illustrate how bad governance and economic mismanagement has devastated a country once endowed with abundant natural and human resources. Design/methodology/approach - The wealth of heritage, culture, and economy that Iraq enjoyed is highlighted. The paper presents a brief overview of economic mismanagement, corruption, and political blunders of Saddam Hussein's regime, which led to sapping the country of its wealth and degraded its human resources. In view of that, the political impediments to the reconstruction process are outlined. Hence, the significance of democratic and participatory approaches to sustainable development. Findings - The paper reveals that the years of oppressive, myopic, and self‐serving policies of Saddam Hussein's regime have incapacitated Iraq and its people. Income per capita in 2003 was less than 15 percent of its value in 1980 and Iraq's debt amounted to about 600 percent of national output. The paper also indicates that international, regional, and local politics has been the primary hindrance to Iraq's reconstruction and development. Originality/value - If history is any guide, the peoples of all non‐democratic and corrupt regimes throughout the world ought to heed the lessons imparted by the Saddam's model of governance, that is, sustainable economic development and improving the standards of living can best be attained through democratic and participatory governance.

Keywords: Political economy; Conflict; War; Democracy; Iraq (search for similar items in EconPapers)
Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:eme:ijoemp:17468800710718868

DOI: 10.1108/17468800710718868

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