Iraqi Journal For Economic Sciences

Many researchers have attributed low inflation rates over long periods of time to the existence of effective independent central banks since the early eighties of the last twentieth century . the industrial countries had realized noticeable decline in inflation rates in the 1955 – 1988 period from 5.6% to 2.7% in the 1988 – 2000 , due to inflation targeting . The turning point was when Newzeland enacted a new Newzeland reserve bank act which introduced tow important reforms , namely , first , giving the said central bank greater central independence from the central government and secondly , targeting a definite inflation rate . which was the first country to do that , making the bank one of the most independent central bank in the world . most other countries followed suit , thus the low level of inflation rate over a long period of time has become an indicator of good central banking . this is realized through an institutional structure in which the central bank can resist any pressure to make any short term policy decisions that intersect with long term goals . central banks securer their independence chiefly through institutional reforms exemplified by long term appointments of governors and defining clear inflation rats and a collection of institutional reforms and well defined goals . the joint element between inflation targeting and central bank independence is the constraints on the behavior of the fiscal authority which might lean toward allowing inflation over the short run to effect a more suitable exchange rate , or a right production rate which might contradict with price stability over the long run . thus it might be in the society’s interest to grant the authority to make monetary policy to a far sighted central bank.
The research reaches the conclusion that the independence of the central bank does not mean full independence from the government in everything including managing monetary and credit policies , or the organizational structure . it doesn’t mean a complete separation from the government for the central bank is just a governmental body which function within the institutional framework of the government , but its decisions especially as far as monetary policy is concerned is independent of the ministry if finance , on the condition that it should be consistent with the general economic policy of the state , but not subject to the political pressures with an emphasis on long term goals such as price stability instead of short term aims such as low interest rats which are defended by politicians . then the paper discusses some other ideas about central banks independence like dejure and defacto independence and independence as an exogenous or endogenous factor and the extent to which independence is effected in totalitarian compared with democratic stats . In addition , the role of accommodating and non accommodating local policies to inflation in realizing independence , also the pretexts against it are discussed .
Finally the case of Iraq after 2003 American occupation is surveyed until the present time 2011 . the paper concludes with a measurement of the degree of the independence of the central bank of Iraq under its law no.56 issued in 2004 , with a discussion of how consistent with the fiscal policy in particular and the economic policy in general .

Economic reforms are necessary but not sufficient. Whats more important is the essence of reforms that must combine economic reforms with institutional and political.
Most of the developing countries are still far-reaching from this implication. this is what I have tried to discuss in this research that can help to explain why developing countries failed to achieve the intended targets.
The reform policy should focus on adapting the lessons from international experience and creating feasible and appropriate reforms for their own circumstances.

The recent financial crisis (mortgage crisis) showed the ability of Islamic banks to absorb shocks, as they were less affected by their repercussions, so that Islamic banks are not to deal with products of financial engineering, which are non-real assets, and that its principles prohibit sale what you don t possess, selling of non-assets and linking funding with assets.
The importance of research stems from the importance of Islamic banks, which were able to achieve a distinguished presence on the banking arena, making it a global phenomenon that everyone is moving to take advantage of them. So, the research confirms the hypothesis that possession of Islamic banks a lot of ingredients that have achieved safety and security, which makes them immune to the crisis.
To prove the hypothesis of research has been divided into three sections. The first dealing with historical context of the financial and banking crises, with a focus on the mortgage crisis, while the second part, singled out for study of the concept, and status of the strategic objectives of the Islamic banks. The third topic dealt with the causes of the financial crisis to illustrate the possibility of exceeding these reasons by Islamic banks as compared with the conventional banks.

the term sustainable development Acquired interest in "global" after the report (Our Common Future), prepared by the World Commission on Environment and Development in 1987, as was the drafting of the first definition of sustainable development as (those development that meets the needs of the present generation without compromising the ability of future generations to meet their needs)
Trying to research that explores the dimensions of the concept through a historical perspective of the development all the way "to achieve the elements of sustainability, which keep for the next generation networking opportunities and enjoy the achievements of the current generation, then moves on research towards opportunities of empowerment achieved by the (sustainable human development and the means or its rights), while the busy hub recent issues of human
development in Iraq, according to the "vision (actually and hoped). The adoption of Iraq for the project to grow a sustainable requires a change "systematically" to the path of development, to confirm many of the contemporary issues and according to the "principle (rights: the means and goal), and the turning point that must begin to embrace the philosophy of economic take into account the privacy of the Iraqi experience, supported legislative efforts more careful" the openness of experience to the world outside, and preceded by an effort "to see a political strategy capable of achieving the security requirement of various kinds and deal with the scientific and cultural issues, social, environmental and technological

Against Iraq since the beginning of the third millennium to the water crisis steadily, culminating in the years (2005-2009), because of the severe shortage in imports of water from upstream countries and neighboring countries, droughts and lack of rainfall experienced by all provinces in Iraq, including Baghdad province.
The study aims to indicate the effects of water shortage suffered by Iraq in recent years on agricultural land and agricultural production in the province of Baghdad, where agriculture is dependent on surface water are crucial, being located within the region is not guaranteed rain from Iraq.

The study reviewed the water and agricultural reality of Iraq and Baghdad,and the reasons are different, which led to shortages of water, and the study showed that the negative effects of water scarcity on agriculture in the province of Baghdad, was a decline of agricultural land and low agricultural production in the province.
The study also touched on a number of solutions and treatments to meet the challenges of the water crisis, and recommended some of the recommendations that can enhance the water situation, and reduce the negative effects on agriculture in the province of Baghdad

We reviewed the themes in the previous issue of Nanotechnology .. Catch up or Crunch has been allocated first axis and the second to review the conceptual framework and historical nanotechnology, while the third axis has been reviewing the economic importance of nanotechnology and the consequent changes in our economies and our relationship with the international and the consequent social changes ranging between positive and negative, while the fourth axis has focused on the most important challenges facing nanotechnology for the countries of the South and of weak spending on nanotechnology compared with developed countries, while the fifth axis scenario reform has focused on the most important steps in which to overcome weaknesses of the Arab in the field of technology and finally have reached your search a number of conclusions and recommendations, which identified the risks and reforms in which they can access to the technological industrial strategy.

Law no. 56 for the year 2004 has granted the Central Bank of Iraq status of independence. Clause (2) of second article has defined that the Central Bank of Iraq should enjoy independence for its effort in order to achieve its objectives. This bank has become independent by its tools and it has no longer been the financial leverage to finance the budget deficit similar to what was happening through the last two periods of years to meet the needs of public outlay in the way that has led to strike public outlay in the way that has led to strike the stability elements of macroeconomic , deterioration of the growth, and deflection of investment opportunities, This raises the question about the extent to which the monetary authority has been successful in using new tools (indirect) and about the transitions aspects that have been witnessed by the monetary policy in Iraq through the current stage. the monetary authority in Iraq has encountered, significant challenges through current stage in the process of achieving the economic and financial stability and promoting development in an accelerating pace.

There are many definitions which dealt with corruption one of them is an exploitation of power to achieve a private advantage on the other side there are some who believe that it could be achieving in the confrontation lines between public and private sector The economic corruption takes various kinds according to the standards adopted in the division since it may take a legal dimension like falsification and may be have an economic aim like capturing funds and its reasons may be economic wealth in quick or political or social corruption shapes and damaging public funds and others .
Corruption leaves different impacts some believe it has positive effects but the fact proves not to be as mere negative effects in positive cover and its most important negative effects are spreading poverty decreasing currency value impeding privatization process and receding development and other .
There are a strategies can be adopted to limit corruption phenomenon such as in international strategy represented by cooperation with specialist organizations in combating corruption like transparency organization and Arabic strategy on the Arab region level – and managerial strategy which calls for reforming legal and managerial apparatus in addition to active to role of civil society organizations in limiting such phenomenon .

The difference between the experimental sciences and the humanities is in the complexity and the multiplicity of its details. Therefore it is more difficult to study the humanities than the experimental sciences, and to apply the scientific research methods as well. The study of Economics, as a humanity science, and its analysis is not able to offer typical answers in order to solve the economic problem, and it is not able to put a limit for the contrasts which exist between many variables. For that reason and as a result there were numerous theories and economic thoughts. Each one of them present different ideology adopt its own thought to solve the economic problem.

Although there are many aspects in the global economy that differ in economic activities, local and international, that the economy is still divided into countries of the North (developed countries) and South (developing countries), for the entry into force of the law of specialization and the international division of labor. Despite the assistance and economic developments associated with the development of infrastructure of developed economies, the development of infrastructure of developing economies are still under the influence of this law. In addition, globalization has contributed directly and indirectly in the promotion of this Act under the umbrella of the technological developments and new scientific information revolution that has emerged and communication between international economies, which limit the distance (gap) between the north and south.
However, it is still a big gap between the two parties, despite the benefits achieved as a result of economic globalization and technological global economy, while the negative effects of globalization on the Arab economies, directly and / or indirectly, led to an increase of the structural imbalances of economic structure and infrastructure conditions in these economies. Thus, it can not solve these problems in the manner that facilitates these countries to reach development goals, and the elimination of the gap with developed countries.
So we find that these economies despite the high rates of economic growth, but where this was not linked to the promotion of development where the building, did not fit associated with the generation of employment and investment opportunities. This was not growth enhanced "the important role of public and private sectors, as far as Maazz certain sectors, especially the oil sector, enhanced to generate economic growth. This sector is facing repeated crises in the international oil market. Which led to the creation of more crises, but the problems remain unresolved. especially high rates of unemployment in size "and the percentage of" especially in the Arab labor markets.
Although there are some solutions in the framework of economic policies, in general, and labor policies, in particular. But these solutions are temporary, and that it is appropriate to promote the proper construction of development.