The study aims to shed light on the most important financial developments in Iraq and to reveal the trends of causal relationships between economic and financial variables and economic growth and the extent of the impact of financial development on them. As the financial markets are one of the most important components of the financial system in the economy. Which makes investment more attractive and allows savers to give up their savings for a long period and obtain assets and sell them quickly in the event they want to recover their savings, economic growth creates a demand for different types of financial services in the sense that financial development responds to economic growth in Iraq. As the latter depends largely on oil revenues, and to reach the goal of the research, the study came with three sections, the first of which touched on a theoretical approach to understanding the financial markets. While the second came to analyze the variables of the study, and the third came to measure the impact of the study’s variables on the gross domestic product. The study found that the economic growth that was achieved in Iraq after 2003 led to a simple financial development than it was before 2003, and this was confirmed by the value of R^2 of 96%, after it was 92% in the first model.