Oil and patterns of public spending in rent economies "Iraq case study

Abstract

Most of the countries producing raw materials and raw materials, especially oil, are characterized by a one-sided economy that relies mainly on the rentier in financing the budget and the economy. This has resulted in the slide of the economies of these countries in the orbit of oil markets and volatility, and the infiltration of crises and global economic fluctuations through the channel resource oil. this study sought to analyze and diagnose the effects that the fluctuations of oil prices can have on the trends and patterns of public spending that can not be separated from the characteristics of the oil rental economies by focusing on the change in the values of public expenditure in both current and investment. Fluctuations in the prices of crude oil in the international market and the extent of the deviation of the path of public spending in achieving the goals of growth and economic stability. The Iraqi economy have been used to analyze the nature of the financial structure in the oil countries and the extent of the interrelationship between oil, public spending and the economy of the oil countries.

Keywords

oil, iraq