AN EMPIRICAL ANALYSIS OF FACTORS AFFECTING MANAGEMENT OF FINANCIAL CRISIS: EVIDENCE FROM ARAB GULF REGION LIKE IRAQ
Keywords:
Control on foreign debts, reduction in market fluctuation, resilience from rentier economy, government support, management of financial crisis.Abstract
The prominence of financial crises has necessitated considerable attention in contemporary research and policymaking. Thus, this current article delves into an exploration of how measures such as control over foreign debts, mitigation of market fluctuations, and transitioning away from a rentier economy impact the management of financial crises within the context of Iraq. Additionally, the study assesses the potential moderating influence of government support in the relationship between the mentioned measures and the overall management of financial crises in Iraq. Data for this study was collected through questionnaires administered by the financial crisis department of the Iraqi government. The article also employed the smart-PLS method to ensure the reliability and correlation assessment of the variables. The results revealed a favourable correlation between the regulation of foreign debts, mitigated market fluctuations, and decreased reliance on a rentier economy with the effective management of financial crises in Iraq. Furthermore, the research illuminated a significant moderating effect of government support within the relationships involving control over foreign debts, reduction in market fluctuation, and the management of financial crises in Iraq. This article serves as a guide for policymakers in formulating strategies to adeptly navigate financial crises through the implementation of measures such as foreign debt control, market fluctuation reduction, and bolstered resilience against a rentier economy.