THE ROLE OF OIL REVENUES TO ENHANCE INTERNATIONAL RESERVES IN IRAQ FOR THE PERIOD (2004-2021)
Main Article Content
The important of oil revenues and their role in strengthening international reserves is one of the important topics that have aroused the interest of many researchers, because the revenues from exporting oil crude are subject to fluctuations in size due to their impact on several factors including oil prices crude global and the quantities exported
and the Iraqi economy is one of the unilateral rentier economies is dependent on only one resource, so it has become necessary to maintain international reserves of an optimal size because of their important role in facing internal and external shocks The problem of the study was the extent of the impact of oil revenues on international reserves in the Iraqi economy for the period (2004-2021).
The research study relied on the descriptive and analytical method, and modern standard approaches were used (vector auto regression Model) (VAR), and the use of data on oil revenues and international reserves for the period (2004-2021) through the use of the statistical program (Eviews12).
The study reached a set of conclusions: There is a significant impact of oil revenues in Iraq on the formation and of international reserves, where the relationship between them is positive. The higher the oil revenues, the higher the international reserves, which is a strong relationship, as the decline in international reserves cannot be compensated for, except through the increase in revenues. oil resulting from the rise in oil prices.and the establishment of an investment fund to invest the surplus from international reserves and reduce the opportunity cost.
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