The Role of Economics Factors in Driving Economic Growth: An Empirical Study in Iraq

Abstract

This study examined the implications of inequality, human capital, innovation and entrepreneurship, social and political instability, and other factors on sustainable economic growth in Erbil-Kurdistan. Quantitative methods were applied, and information from 2006–2022 was analyzed. Data analysis included a correlation and regression test. It was observed that inequality, social discontent, and political instability were significantly connected to the opposite outcome (low economic growth), while human capital, innovation, and entrepreneurship were significantly related to high economic growth that could be sustained over time. The findings revealed that all developed research hypotheses are supported. The study highlights the importance of supporting innovation and entrepreneurship, as well as investing in people, for long-term economic growth in Erbil and Kurdistan. Inequality, as well as social and political instability, are addressed, and suggestions for policy change are offered. Further interdisciplinary study is required to properly understand the elements that contribute to Erbil and Kurdistan's sustained economic success.