The Role Of Financial Markets In Transformation from Public Sector into Prevate Sector And The Ability to get benefit  form It In Iraq

A Thesis Submitted By
Ghosoun  K. Obaid AL-jarallah

To The Council Of Management and Economics College in Karbala University As a Part Of Requirements To Obtain Master 
Degree In Economics

Supervised by
P.hd.Prof.Tawfeek Abbass Abd Oun

Abstract

      The purpose of this research is to know the role of the financial markets in the transformation process from the public sector to the private sector (privatization) as well as clarify the type of relationship between the stock market and privatization so in order to address the problem of research , as the financial markets suffer from obstacles limiting their ability to activate the privatization process ,it is working to mobilize savings and support channels make them which do as a bridge between saving and  investment to serve the national economy Thus, financial markets are one of the important reform tools through which the process of privatization can be carried out. Privatization through financial markets is one of the approaches of transferring ownership. The choice of the appropriate method depends on the development of financial markets. There for it contributes  In the success of privatization policy, In order to cover the relevant aspects, the theoretical aspect of the financial markets (concept, origin, types, tools, efficiency, indicators) was discussed. The definition of privatization (concept, origin, types, objectives, methods, requirements, policies, indicators) (2000-2015), and the use of a standard model to explain the relationship between financial markets and privatization in the United States and Egypt.

The results of the research showed that there is a tendency to integrate the indicators of financial markets and privatization according to the test of common integration, which means that there is a long-term balance between the two directions in the United States of America. There is also a causal link between the indexes of financial markets and privatization in the United States according to the causal test, which confirms that there is an effective role for the financial markets in the United States of America through its direct impact on the variables of the private sector as a developed country. In addition, the financial market in the United States of America consider one of the most developed markets in the world, while results in Egypt showed a single presence for the joint integration of study variables in Egypt according to the causality test, the relationship is also one direction according to the test of causality, which means that the markets have an effective effect on the private sector variables also the financial market in Egypt is the most developed financial markets among the Arab countries. It is considered one of the emerging financial markets in the world. Consequently, the United States of America as a developing country and Egypt from the developing countries have accumulated experience And then come out with the results through which knowledge of the appropriate tools and means that led to the development of financial market in those countries, which could get benefit from that experience and applied it in Iraq.