دور التزاحم المالي في الاستثمار الخاص تجارب دول مختارة مع إشارة للعراق

The role of financial crowding in private investment The experiences of selected countries with reference to Iraq A Thesis submitted by the student Shrooq R.Jafar AIhusseiny To The Council of Administration and Economic Colleg

The fiscal policy in countries different economic systems and the role
of the government in obtaining public revenues to finance public
expenditures. These measures have negative economic activity dye to the
increase in government demand for fund available for lending and then
crowding out the private sector, as well as crowding out the securities
offered by the private sector in the financial markets, especially when the
government follows an expansionary financial policy that leads to an
increase in the demand for money, and consequently, an increase in interest
rates, which leads to financial crowding due to an increase in government
spending financed by debt, which leads to a decrease in private sector
spending as a rsult of high interest rates associated with the growth of the
public sector. The research aims to demonstrate the role of fiscal and
monetary policy in crowding out private investment in the united statea of
America, Algeria and Iraq .financial policy has been known to have a
maijor role in influencing economic activity and thus crowding out the
private sector.
The problem of the study is that the fiscal deficit is the major problem
that the budgets of developing counties suffer from, whichleads to
structural imbalances in financial preesures as a resuit of the continuous
rise in public spending has an impact on macroeconomic variables,
investment.Although public investment can complement the work of
private investment and may contribute to crowding out private investment,
this crowding out indicates that the large public sector and the private
sector, which It leads to an increase in the cost of labor in the private sector.
In order to address the problem of the study, the study starts with a
monetary policy affects private investment and gross domestic product.As
for the research methodology, it relied on the inductive analysis method by
analyzing the evolution of the data of the time series of the research
variables ,extrapolating the economic reality, anaiyzing the economic
phenomena and developing them during the research period. In order to
achieve an individual, the study was divided inot three main chapter and
the private sector, and development of some macroeconomic indicatots for
the sample countries .It was divided in to three sections, the first section
included the sample countries .measuring and analyzing the impact of the
financial and monetary policy of the Iraq on the private investment of the
sample countries. It was divided inot three sections, the first section
included the experience of the United States of America, the second topic
included the experience of Algeria,and the third topic included the
experience of Iraq experience. The study concluded a number of
conclusions and recommendations ,the most important of which is that the
crowding out process results from the increase in government spending
financed by debt ,which leads to a decrease in private sector spending as
a result of high interest rates associated with the growth of the public
sector. And rely heavily on funding government spending by increasing
Government borrowing will lead to significant increases in the real interest
rate, which will lead to the absorption of the economy’s ability to lend and
reduce the ability of projects to make capital investments. This leads the
weakness of the government spending multiplier,and the transfer of these
amounts towards increasing .as for the conclusions to the parameters of
the short-term has a positive moral effect on private investment that may
encourage the attraction of investment that may parameters that the interest
rate and the price of the exchange has no significant effect on private
investment, and this explains the weak role of the interest rate as on of the
monetary policy tools in stimulating the private
as advisory.ns