Efficient performance in economic diversification policy in Iraq (Benefiting from the lessons of sample countries)

Abstract

Economic diversification is a challenge for most developing countries, especially for low-income countries and small or commodity-dominated economies. Economic diversification is closely related to the structural transformation of its economies and the achievement of a higher level of productivity resulting from the introduction of knowledge and skills within the economic sectors, so the research seeks to benefit the Iraqi economy from the lessons of sample countries through industrial and knowledge transformation, and not relying on a specific economic resource, as innovation in economic diversification is of great importance in increasing the added value of the sectors used because of its significant effects in reducing production costs and increasing exports, which contribute to achieving economic development. It requires an effective economic policy to support development in Iraq, and fix the failures in policies aimed at financing the diversification process and reducing costs.