Iraq: emergence of a new nation from the ashes

Abstract

Purpose

To shed light on the political economy aspect of post‐conflict reconstruction in Iraq and illustrate how bad governance and economic mismanagement has devastated a country once endowed with abundant natural and human resources.

Design/methodology/approach

The wealth of heritage, culture, and economy that Iraq enjoyed is highlighted. The paper presents a brief overview of economic mismanagement, corruption, and political blunders of Saddam Hussein's regime, which led to sapping the country of its wealth and degraded its human resources. In view of that, the political impediments to the reconstruction process are outlined. Hence, the significance of democratic and participatory approaches to sustainable development.

Findings

The paper reveals that the years of oppressive, myopic, and self‐serving policies of Saddam Hussein's regime have incapacitated Iraq and its people. Income per capita in 2003 was less than 15 percent of its value in 1980 and Iraq's debt amounted to about 600 percent of national output. The paper also indicates that international, regional, and local politics has been the primary hindrance to Iraq's reconstruction and development.

Originality/value

If history is any guide, the peoples of all non‐democratic and corrupt regimes throughout the world ought to heed the lessons imparted by the Saddam's model of governance, that is, sustainable economic development and improving the standards of living can best be attained through democratic and participatory governance.

Citation

Hafedh, M., Akoum, I., Zbib, I.J. and Ahmed, Z.U. (2007), "Iraq: emergence of a new nation from the ashes", International Journal of Emerging Markets, Vol. 2 No. 1, pp. 7-21. https://doi.org/10.1108/17468800710718868