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Measuring and Analyzing the Impact of Income Inequality on Sustainable Development in Iraq from 2000-2023

Year: 2024
Type: article
Abstract: The problem of income inequality, both within and between countries, is one of the major challenges that face the attainment of sustainable development. This paper looks at how income inequality has influenced the economic and social pillars of sustainable development in Iraq between 2000 and 2023. The problem is that increasing income inequality hinders the realization of sustainable development, especially in Iraq's peculiar socioeconomic context. The hypothesis is that income inequality paces a negative impact on key sustainable development indicators, such as GDP growth and HDI. Further testing of such a hypothesis was done by estimating both short-run and long-run effects through the ARDL model. It was observed that income inequality significantly impacts economic growth and human development. The findings strongly indicate the need for comprehensive policies to be enacted in the realm of lessening income inequality, cutting unemployment rates, and raising standards of living across the board while controlling population growth. In fact, this research has pointed out the alarming increase induced by the financial crisis and the COVID-19 pandemic in income disparities within Iraq. Such policies would be very instrumental in ensuring economic stability in the long term and meeting the required paradigms of sustainable development for Iraq. It therefore provides valuable lessons that could be applied by policymakers in their attempt to devise a strategy that enhances the possibility of achieving economic growth with social equity and environmental sustainability for a more stable and prosperous future in Iraq.
DOI: 10.14500/kujhss.v7n2y2024.pp544-554
Language: English
Open Access status: diamond
OpenAlex ID: W4411503840
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