Sovereign wealth funds, and the requirements of the establishment of a sovereign fund for Iraq,, | ||
| Al Kut Journal of Economics Administrative Sciences | ||
| Article 1, Volume 0, Issue 7, February 2018, Pages 83-103 | ||
| Author | ||
| uosra hasin mahdi and rafi ahmad hasin | ||
| Abstract | ||
| Abstract Fiscal policy plays a crucial role and direct In achieving financial stability of any country in the world and strengthened the role of the States which formed a government in which the bulk of economic activity in the country any where the ratio of (public expenditure / GDP) is large, especially if those countries depend on natural resource revenues (oil and gas, copper, phosphate, .. etc) to cover those expenses, as is the case in most oil states, which Iraq is one of them and so, these countries are vulnerable to financial instability and thus the economic and the short and long term , In the long short-affected public revenues for any adverse change occurs in the prices of oil and gas, and in the long run, the public revenues, which come from exports of natural resources is likely to disappear in the event of depletion of natural resources (oil and gas) or replacement of substitute less expensive and less harmful to the environment. Therefore, the Commodity sovereign wealth funds a tool, however, financial authority and under the management of the monetary authority to act to absorb the shock generated by the negative change in the prices of natural resources in the short term, and is also working on saving for the future to address the depletion of those resources as well as to achieve something of justice in the distribution of wealth natural between generations. The study has been divided into three chapters. Chapter one deals with The Conceptual framework for sovereign wealth funds. While chapter two Discusses Motivated the establishment of a sovereign fund for Iraq and the objectives of this Fund. Finally, Chapter three Study How to create the Fund (a proposed model for the sovereign fund of Iraq) . | ||
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