Economic reform, structural imbalances and their impact on unemployment in the emerging economy

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Abstract

In this study, we analyze the effects of economic reforms on narrowing the imbalance gap and its impact on unemployment rates in Iraq, considering the structural imbalances that have afflicted the economy due to past wars and economic sanctions (Liotti, 2020). Drawing on a comprehensive analysis of the Iraqi economy, we employ a mixed-methods approach combining quantitative data analysis and qualitative examination of policy measures. Our findings reveal that the Iraqi economy has been plagued by persistent structural imbalances. These imbalances have contributed to the depletion of reserves and high rates of unemployment, as economic reform programs often carry unintended consequences, such as poverty and indebtedness. By critically assessing the policies implemented following the shift, we shed light on the repercussions and desired outcomes of these reforms. Through our research, we emphasize the importance of understanding the methods and sources of these reforms and maximizing their potential to address the imbalance gap. In conclusion, this study underscores the vital need for effective strategies that can harness the full potential of economic reforms to mitigate structural imbalances and alleviate unemployment in Iraq. Findings provide valuable insights for policymakers and stakeholders aiming to shape sustainable economic growth and stability in the country.

Keywords: Economic Reform, Unemployment, Structural Imbalances

Authors’ individual contribution: Conceptualization — N.H.A.A.; Methodology — N.H.A.A. and R.N.K.; Investigation — N.H.A.A.; Resources — H.S.M. and N.H.A.A.; Writing — R.N.K.; Supervision — N.H.A.A. and R.N.K.; Funding Acquisition — H.S.M.

Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

JEL Classification: G0, A1, D0

Received: 10.01.2023
Accepted: 29.12.2023
Published online: 03.01.2024

How to cite this paper: Alayseri, N. H. A., Kadhim, R. N., & Majeed, H. S. (2024). Economic reform, structural imbalances and their impact on unemployment in the emerging economy. Journal of Governance & Regulation, 13(1), 18–27. https://doi.org/10.22495/jgrv13i1art2