This paper discusses the role of private sector development in overcoming the challenges of the resource curse. It identifies the developmental factors in the private sector in natural resource dependent countries by adapting a dynamic flexible adjustment model. Its empirical results are based on panel data from 110 natural resource producers in developed, developing, and emerging countries during the period 1990-2017. The findings show that natural resource rents can foster private sector development, and the speed of adjustment towards the target level of development is faster in oil and gas exporting countries.

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Private sector development (PSD) has been a vital part of the Kurdistan Regional Government (KRG)’s economic development policy since the very beginning of the development of the region. The objective of this paper is to critically analyse private sector development in post-conflict Kurdistan Region of Iraq (KRI). A qualitative method of critical review to the development of private sector in the use of official documents is used from 2006 to 2016. It is concluded that because of the key challenges facing the private sector and a weak synergy between private and public sector, the KRG polices, and the experience of private sector were not effective in favour of the economy of Kurdistan. This was possibly due to the failure of the KRG in monitoring and evaluating the impact of those polices, political consideration in the way of doing business, internal conflict, and poor institutional system of the region. Public policy implication of this study is that there must be a close tied up of PSD programme to governance and interventions of peacebuilding. Most importantly, promoting the rule of law in the way that political actors should have neither influence on legal system nor on businesses.

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