Kurdistan’s Road to Independence: Building a New Economic Structure

By Tara Shwan

As the people of the Kurdistan Region prepare to head to the polls on September 25, 2017, in a historical referendum on Kurdistan's independence, we compare the economies of Iraq with other nations and ask, “What economic structure would a sovereign Kurdistan take?"

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Kurdistan’s Independence Referendum from an Economic Point of View

By Tara Shwan

This is not a political opinion, but an economic point of view. Some people in the Kurdistan Region oppose the proposed referendum for independence just because it's adopted by a certain party, while others argue that this isn't the right time for a serious step like that as the Region is suffering from severe economic crisis.

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Good Governance of Natural Resources for Economic Growth

By Paiman Ramazan Ahmad

Kaufmann et al (1999) defined "governance as the traditions and institutions that determine how authority is exercised in a country." Based on available literature including thoughts of neo-institutional scholars including, Douglass North and MancurOlsan, a positive relationship between the quality of institutions, governance structures, and economic growth is found.

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Tourism has the potential to become a catalyst to economic development in the region. KRG should work harder in encouraging foreign investors to invest in the tourism sector. Developing the tourism sector will help in providing more job opportunities.

The city of Erbīl, which is one of the most ancient and continuously inhabited cities in the world, appears to be at the forefront of the gentrification that is currently ongoing in the tourism market of northern Iraq. With the number of five star and International Hotels being established in the region there has never been a better time to invest in the tourism. The city of Erbil is home to the world oldest citadel, from the times when old empires used to use the citadel as a fortress now its undergoing a facelift all part of the KRG’s tourism drive in the region.

Sites of Historical and Natural beauty make ideal places for tourism related investment, completed projects such as Pank Tourism Complex in Rawanduz is a clear example of how the investment law has enabled the establishment of a modern tourist complex with a rollercoaster and amusement rides placed on a Gorge near the town of Rawanduz. The scenery is breathtaking like no other seen in the Middle East, taking in the snowy mountaintops in the winter and the green plains in the spring.