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Foreign Direct Investment in Post-Conflict Countries: The Case of Iraq’s Oil and Electricity Sectors

Author

Listed:
  • Ghassan F. Hanna

    (Business Consultant - ISL Business Consulting San Diego, CA, USA)

  • Mohamad Saleh Hammoud

    (Mohamad Saleh Hammoud Dean of the School of Business Administration, Arts, Sciences and Technology University in Lebanon, Lebanon)

  • Judith A. Russo-Converso

    (Graduate School Dissertation Chair - Northcentral University, Prescott Valley, AZ, USA)

Abstract

Foreign direct investment is new phenomenon to Iraq, a post conflict country with abundance of natural resources. With dominant state-controlled public sector, attracting foreign investment is an added challenge to an economy devastated by years of wars. A qualitative case study was conducted to assess determinants of foreign direct investment in Iraq’s energy sector. Data was collected from interviews with business and government subject matter experts, and a review of publically available documents. Lack of security, political instability, corruption, and inadequate government policies towards foreign direct investment as symptoms found and typically shared by other post-conflict countries. The persistence of violence was not seen as a deterrent; however, foreign direct investment activity in the energy sector was virtually limited to the semi-autonomous region of Kurdistan. Investments were either wholly-owned or joint-venture enterprises. Implications to other post conflict countries, using Kuwait and Nigeria as illustrative examples, are presented and recommendations made.

Suggested Citation

  • Ghassan F. Hanna & Mohamad Saleh Hammoud & Judith A. Russo-Converso, 2014. "Foreign Direct Investment in Post-Conflict Countries: The Case of Iraq’s Oil and Electricity Sectors," International Journal of Energy Economics and Policy, Econjournals, vol. 4(2), pages 137-148.
  • Handle: RePEc:eco:journ2:2014-02-3
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    References listed on IDEAS

    as
    1. Basedau, Matthias & Richter, Thomas, 2011. "Why Do Some Oil Exporters Experience Civil War But Others Do Not? – A Qualitative Comparative Analysis of Net Oil-Exporting Countries," GIGA Working Papers 157, GIGA German Institute of Global and Area Studies.
    2. VINTILĂ Denisia, 2010. "Foreign Direct Investment Theories: An Overview of the Main FDI Theories," European Journal of Interdisciplinary Studies, Bucharest Economic Academy, issue 02, June.
    3. John H Dunning, 1980. "Towards an Eclectic Theory of International Production: Some Empirical Tests," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 11(1), pages 9-31, March.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Nuno Carlos Leitão, 2015. "Energy Consumption and Foreign Direct Investment: A Panel Data Analysis for Portugal," International Journal of Energy Economics and Policy, Econjournals, vol. 5(1), pages 138-147.
    2. Muhammad Shahbaz & Smile Dube & Ilhan Ozturk & Abdul Jalil, 2015. "Testing the Environmental Kuznets Curve Hypothesis in Portugal," International Journal of Energy Economics and Policy, Econjournals, vol. 5(2), pages 475-481.
    3. Melani Cammett & Ishac Diwan & Andrew Leber, 2019. "Is Oil Wealth Good for Private Sector Development?," Working Papers 1299, Economic Research Forum, revised 2019.
    4. repec:hur:ijarbs:v:8:y:2018:i:1:p:409-419 is not listed on IDEAS

    More about this item

    Keywords

    Foreign direct investment; Iraq; post-conflict country; energy Journal: International Journal of Energy Economics and Policy;

    JEL classification:

    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East
    • P28 - Economic Systems - - Socialist Systems and Transition Economies - - - Natural Resources; Environment

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