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The lecturer at the College of Industrial Management for Oil and Gas, assistant lecturer Maitham Abdul Hamid, who was delegated by University of Basra for Oil and Gas to complete his doctoral studies at a European university, published the scientific research entitled (Macroeconomic Impacts of Oil Price Shocks: Evidence from Iraq by Using Vector Autoregressive Model) in the International Journal of Energy Economics and Policy, which is included in the Scopus Q2 containers, and is one of the most important leading scientific journals specializing in strategic energy policies, energy planning, and energy investments, and has a cite score of 3.9.
The Vector Autoregressive Model, Granger Causality Tests, Impulse Response Function and Variance Decomposition analysis were used to demonstrate the impact of crude oil price shocks on the overall variables in Iraq. Five variables were used: OP, IR, GDP IV, TEV. Annual data from 1970 to 2021 were used, covering a period of more than half a century. This is the first time this period has been covered. Granger Causality Tests showed a unidirectional relationship moving from OP to other variables. This is an inevitable result because oil prices are determined in global markets according to specific factors that do not include local economic variables. The results of the Variance Decomposition analysis indicated that shocks in OP constitute an important source of variance in the studied variables. Finally, the results of the Impulse Response Function indicated that shocks in OP significantly affect the studied variables. The study concluded by presenting a set of practical recommendations to avoid the negative effects of oil shocks on the Iraqi economy.
In a related context, the researcher published another scientific research entitled The Impact of Fluctuations in the International Oil Markets On the Iraqi Economy in the German magazine World Economics and Finance
