www.iier.org 1 Dr. Kamal Field Al-Basri Director of Research Mr. Mudher Sebahi Senior Research Fellow 21 July 2014 Iraq Paradox: Wining Democracy & Losing Rule of Law Economic Freedom of the Arab World Conference, Amman, November 18-19, 2014 Enforcing the rule of law and regulatory environment as prerequisite to protect property rights and equality – Success stories and challenges (country reports)
Enforcing the rule of law and regulatory environment as prerequisite to protect property rights and equality
Jul 04, 2015
Enforcing the rule of law and regulatory environment as prerequisite to protect property rights and equality.
Dr. Kamal Field Al Basri,
Founder, Iraqi Institute for Economic Reform (IIER), Iraq
Economic Freedom of the Arab World Conference
Amman, November 18-19, 2014
Dr. Kamal Field Al Basri,
Founder, Iraqi Institute for Economic Reform (IIER), Iraq
Economic Freedom of the Arab World Conference
Amman, November 18-19, 2014
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www.iier.org 1
Dr. Kamal Field Al-BasriDirector of Research
Mr. Mudher SebahiSenior Research Fellow
21 July 2014
Iraq Paradox:
Wining Democracy & Losing Rule of Law
Economic Freedom of the Arab World Conference, Amman, November 18-19, 2014
Enforcing the rule of law and regulatory environment as prerequisite to protect property rights and equality –
Success stories and challenges (country reports)
www.iier.org [email protected] July 2014
Why are some courtiers enjoy prosperity and others not?
Does natural resource is an important factor for
prosperity?
Does democracy is an important factors for prosperity?
Does economic freedom is important factors for
prosperity?
I will attempt to answer these questions with reference to
IRAQ
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1
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9
United Kingdom Turkey Tunisia Iraq Egypt Jordan Iran
Democracy Index 2011 -
Overall score
Economist Intelligence Unit
www.iier.org [email protected] July 2014
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1
2
3
4
5
6
7
8
9
United Kingdom Turkey Tunisia Iraq Egypt Jordan Iran
Democracy Index 2011 -
Political participation
Overall score
Economist Intelligence Unit
www.iier.org [email protected] July 2014
0
2
4
6
8
10
12
United Kingdom Turkey Tunisia Iraq Egypt Jordan Iran
Democracy Index 2011 -
Electoral process andpluralism
Political participation
Overall score
Economist Intelligence Unit
www.iier.org [email protected] July 2014
0
2
4
6
8
10
12
United Kingdom Turkey Tunisia Iraq Egypt Jordan Iran
Decompostions of Political Index 2011 - Economist Intelligence Unit Electoral process andpluralism
Political participation
Political culture
Civil liberties
Overall score
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0
1
2
3
4
5
6
7
8
9
United Kingdom Turkey Tunisia Iraq Egypt Jordan Iran
Functioning of government
Political participation
Overall score
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0
10
20
30
40
50
60
70
Iraq Iran Algeria Egypt Saudia Jordan Turkey
Rule of Law
Control ofCorruption
Status of Rule of Law
21 July 2014
Absence of political stability
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Status of Rule of Law
21 July 2014
Rule of Law provides the necessary condition that allows transactions
/economic activities to take place in an consistent way and in which
economic agents are reassured that their rights are protected and enforced
by the law (without an unexpected complications or additional cost).
In others words Enforcing the rule of law and regulatory environment as
prerequisite to protect property rights and equality.
International evidences show:
A) FDI is essential for growth and development is highly correlated with RL.
B) Economic Reform in transition countries can not be place successfully
without RL.
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Rigidity of Business Regulations
World Bank: Doing Business 2012
21 July 2014
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0
10
20
30
40
50
60
70
Iraq Iran Algeria Egypt Saudia Jordan Turkey
GovrermentEffectiveness
Regulatory Quality
Regulations & Government Effectiveness
21 July 2014
www.iier.org [email protected]
Enforcing Rule of Law (diagram)
21 July 2014
الدينةالمؤسسة او الثقافية
منظمات المجتمع
المدني ودورها العامة
الدولة
ودورها في
اصدار
القوانين
وتوفير
الخدمات
العامة
بيئة
داعمة
للنشاط
االقتصادي
م تنمية القي
االنسانية العليا
سيادة القانون والحكم الرشيد
رفع
مؤشرات
التنمية
البشرية
التعريف
بالقوانين
واثارها
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Impact of Absence Rule Law on the Economy
1. On Private sector development
2. On Public Sector Performance
3. On FDI
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Execution of Federal Investment Budget
21 July 2014
SpendAllocated
Billion I D
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FDI
$0
$1,000
$2,000
$3,000
$4,000
$5,000
$6,000
Gro
ss
In
ve
stm
en
t p
er
Ca
pit
a
(co
ns
tan
t 2
00
0 U
S$
), 2
00
3
Bottom
Quintile
Fourth
Quintile
Third
Quintile
Second
Quintile
Top Quintile
Least Free ……………..….. Most FreeMichael Walker 2005
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How important is Rule of Law?
Per Cap Income and Economic Freedom
y = 2429.1x2 - 23059x + 56370
R2 = 0.5665
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
0 2 4 6 8 10
Per capita Income and the Rule of Law
y = 466.29e0.4656x
R2 = 0.6042
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
0 2 4 6 8 10
Michael Walker 2005
www.iier.org [email protected]
Rule of LawRefo
rmin
g R
egula
tions
Abse
nce
of
Soci
alC
ohesi
on
Optimism
Missed opportunity
Disappointment
Despair
Absence of Rule of Law
The Four Scenarios
21 July 2014
21 July 2014 21
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