The Role of Trade Openness to the Banking Sector and Financial Markets in the Iraqi Economy Environment for 2007-2021

Abstract

The research aims to clarify the repercussions that befell the Iraqi economy after 2007 as a result of the use of some policies and their impact on trade openness, which is part of the economic openness of the country, and were these repercussions positive or negative by setting hypotheses for the research problem, which is that the development of any of the productive and service sectors is Total dependence on the development of the rest of the sectors, so it can be said that the financial and banking sector depends significantly on the development taking place in the rest of the productive sectors, so the commercial openness taking place in Iraq throughout the research period, should positively affect the financial and banking sector. The hypothesis that was set for these forms is That commercial openness, which is part of the economic openness in any country, will generate repercussions in favor of the banking sector and capital markets in a country that follows such policies, especially Iraq after 2007, and the most prominent finding of the research is that sometimes economic or commercial openness may have an adverse shock As a result of the deterioration of the economic conditions in the countries of origin, from which imports are made, so legislation must be put in place that will reduce the severity of adverse shocks, and work to develop the banking sector in line with the banking sectors in neighboring countries and the world in order to develop public confidence in the Iraqi banking sector, as that confidence is currently missing between the citizen and the Iraqi banking sector.