تحليل تأثير صدمة معدل التبادل التجاري على السياسة المالية في العراق للمدة (1990-2012)

Abstract

The Fiscal Policy is considered an important instrument of the Macroeconomic policy , because it provides tools and mechanisms that response to many shocks that face the national economy such as the Terms of Trade Shocks .

      Since the fiscal policy may take the procycle or countercycle path , that depends on the nature of the country and/or the type of shock .

     The hypothesis of this study as follows " The response of fiscal policy to the Terms of Trade Shocks leads to take Expansionary or Contractionary fiscal policy According to the shock¢s type , which may be negative or positive , and it is effects on the level of economic activity"

   The study concluded that the fiscal policy response in Developing Countries , special those Oil-introducing ( Iraq).

    And the researcher recommended that there is insist need to separates the relationship between the terms of trade and oil sector to avoid the terms of trade shocks that could be resulting from oil price fluctuations