MANAGEMENT AND ACCOUNTING REVIEW

 


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Volume 22 No. 3, December 2023

 

ARTICLE INFO
Article History:
Received: 01 October 2023
Accepted: 30 October 2023
Available online: 01 December 2023

MANAGEMENT AND ACCOUNTING REVIEW, VOLUME 22 NO. 3, DECEMBER 2023
https://doi.org/10.24191/MAR.V22i03-13

The Impact of Financial Globalization on Economic Growth in the Kurdistan Region of Iraq: An Empirical Investigation


Ahmed Abdulrahman Khder Aga1♣ and Jwan Saeed Hussein2

1Ministry of Finance and the Economy, KRG, ERBIL, Iraq
2Economics Department, Salahaddin University, ERBIL, Iraq



ABSTRACT

This article delves into the linkage between Economic Growth and Financial Globalization within the Kurdistan context, utilizing yearly data spanning from 2007 to 2020employing the Auto-Regressive-Distributed-Lag (ARDL) method. Empirical investigation revealed that there is a positive and significant linkage between Financial Globalization and economic growth in the case of Kurdistan in the long run over the 2007-2020; specifically, a 1% upturn in Financial Globalization was linked to an approximate 0.014% increase in GDP. Moreover, Oil Prices and Exchange Rate significantly and positively impacted economic growth in Kurdistan, suggesting that an increase in public revenue might result from an increase in oil price or changing of the exchange rate. Overall, the result implies that financial globalization, oil price, and exchange rate play significant roles in driving economic growth in Kurdistan.


Keywords: Financial Globalization, GDP growth; Oil Price, Exchange Rate, Kurdistan Region.
Corresponding Author: Ahmed Abdulrahman Khder Aga; Ministry of Finance and the Economy, KRG, Erbil, Iraq; Email: This email address is being protected from spambots. You need JavaScript enabled to view it.; Tel: 009647501139613

 

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