Bilateral Trade
Samad Aziznejad; Fathollah Tari; Seyed Mohammad Reza Seydnourani
Volume 1, Issue 3 , January 2012, , Pages 133-99
Abstract
Import, which is the basis for significant effects on economics, is influenced by various factors that are essential to be recognized and examined. One of the issues that can influence the demand for import in each country is joining the World Trade Organization (WTO) which can, in fact, affect the demand ...
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Import, which is the basis for significant effects on economics, is influenced by various factors that are essential to be recognized and examined. One of the issues that can influence the demand for import in each country is joining the World Trade Organization (WTO) which can, in fact, affect the demand for import through strategies such as decreasing tariff rates and increasing the extent of mergers in international commerce and relative prices (domestic and foreign prices). In this regard, and considering the high proportion of capital and intermediate commodities in the total import of the country, this article evaluates the effects of Iran joining WTO on the import of capital-intermediate commodities, using Vector AutoRegressive method using the data during 1971-2008. The findings of the study reveal that at long term, the import of such commodities has had high sensitivity towards international commerce and merger in international economies and little sensitivity towards tariff rates and relative prices during the above-mentioned period. The findings of both long-term and short-term periods confirm each other. Also the impulse response function and variance decomposition analyses show that the effect of one standard error which shocks involvement in import demand of studied goods, is approached to zero in three years and integration of international trade is most effective on variations of that demand.
Mohammad Vaez Borzani Vaez Borzani; Mohammad Hasan Moshref Javadi; Azam Koohi Esfahani
Volume 2, Issue 6 , May 2012, , Pages 148-95
Abstract
Each country would follow an economic paradigm which is constructed on ethical values and epistemological foundations. Taking lessons from existing vast amount of theoretical and empirical researches in neoclassic paradigm and taking views on consistency of it with Islamic doctrine can appear as a road ...
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Each country would follow an economic paradigm which is constructed on ethical values and epistemological foundations. Taking lessons from existing vast amount of theoretical and empirical researches in neoclassic paradigm and taking views on consistency of it with Islamic doctrine can appear as a road map to catch Iran an economic development. In this paper, the consistency between Neoclassic and Islamic Paradigms in three fields - implicit assumptions, explicit assumptions, and development mechanisms- have been compared by the use of content analysis method. The results show that, against specific aspects, there is no basic consistency between Neoclassic and Islamic Paradigms..
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Abstract
In general, one of the channels that help accelerate the economic growth of countries is the growth of their industry sector. The importance and basic role of the industry sector and its contribution as the most important factor in stimulating economic growth in developed and developing countries is ...
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In general, one of the channels that help accelerate the economic growth of countries is the growth of their industry sector. The importance and basic role of the industry sector and its contribution as the most important factor in stimulating economic growth in developed and developing countries is to such an extent that many experts believe that industrial development leads to the growth and development of other sectors. It leads to economy. The present research has been conducted on the asymmetric analysis of monetary shocks on the economic growth rate of the industrial sector in Iran with the SUR model. In this research, using seasonal time series data during the period 1365 to 1398 and using the nonlinear approach of Markov regime change, apparently unrelated regressions (SUR) and linear regression method, the effect of the mentioned shocks on growth Industrial production is reviewed. The results of the SUR technique showed that the reaction of the industries and mines sector and its sub-sectors to predicted and unanticipated monetary shocks is meaningless in normal economic conditions. Therefore, regardless of the fluctuations governing the economy, the transmission channels of monetary policy are weak in the entire sector of industries and mines and its sub-sectors.
Economic Growth
aliasghar baharloo; Syed Abdulmajid Jalaee Esfandabadi; Mohsen Zayandeh Roodi
Abstract
Considering the role of capital as one of the most important factors which can affect production, job creation, and productive activities, this study was an attempt to investigate factors which can influence investment and the way they do so. To this end, this study benefitted from a dynamic computable ...
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Considering the role of capital as one of the most important factors which can affect production, job creation, and productive activities, this study was an attempt to investigate factors which can influence investment and the way they do so. To this end, this study benefitted from a dynamic computable general equilibrium model approach to simulate the effects of technology spillovers on economic and welfare variables involved in the investment of Iranian private sector in the country's economy. Accordingly, the study focused on changes in the production index of different economic sectors of Iran and changes in the consumption and price levels in the form of four different scenarios, namely doubling foreign direct investment, improving productivity through technology spillovers by using a coefficient of 0.0062, increasing import of capital and intermediate goods by 20%, and simultaneous application of the aforementioned three scenarios by using the 2013 Social Accounting Matrix for Iran. the results revealed, application of the first scenario can lead to an increase in the level of private sector investment in all the 14 sectors of Iran's economy and cause production growth. Moreover, application of the third scenario can cause the investment level of private sector to decrease. Finally, consideration of the fourth scenario, as compared to the other three scenarios, can be accompanied by a more considerable increase in the levels of production, private sector investment, household consumption, export, import, and thus households' welfare.
Roya Eshraghi Samani; Monireh Alizadeh; Marjan Vahedi
Volume 6, 23(2) , September 2016, , Pages 72-65
Abstract
The current study is a descriptive survey study conducted to investigat challenges of developing organic agriculture in Ilam Province from the viewpoint of experts of agricultural jihad. Statistical population of the study included 264 experts of agricultural jihad in Ilam Province. Through Morgan ...
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The current study is a descriptive survey study conducted to investigat challenges of developing organic agriculture in Ilam Province from the viewpoint of experts of agricultural jihad. Statistical population of the study included 264 experts of agricultural jihad in Ilam Province. Through Morgan and Takman table sample size was estimated to be 150 people. Sampling was also carried out through stratified random sampling method with appropriate assignment. Research instrument was a researcher made questionnaire which face and content validities were confirmed by respective professors’ judgments. In addition reliability of this instrument was determined through calculating Cronbach alpha coefficient (0.91). Data analysis was carried out through utilizing SPSS software version 20 using both descriptive statistics and inferential statistics of factor analysis. Results of factor analysis led to identify five factors including extension -educational challenges, economic challenges, management challenges, psycho-cultural challenges, and supportive challenges that explain 75.08 percent of the variance. Extension -educational challenges as the first factor with the special value of 2. 631 explains the largest portion (21.62 percent) and support challenges with special value of 1.306 explains the smallest portion (10. 88 percent) of the total variance.
Hasan Heidari; Hamidreza Faaljou; Elmnaz Nazariyan; Yousef Mohammadzadeh
Volume 3, Issue 11 , September 2013, , Pages 74-57
Abstract
There are several studies that show social capital and health capital have impressive effect on economic growth. On the other hand, many researches in the health and community field, prove close relationship between social capital and health capital. So, this study examines and evaluates the health and ...
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There are several studies that show social capital and health capital have impressive effect on economic growth. On the other hand, many researches in the health and community field, prove close relationship between social capital and health capital. So, this study examines and evaluates the health and social capital effects and also their interaction effects on economic growth in the Middle East countries for 1990-2010 period using panel data and LS (EGLS) and 2SLS(EGLS). Data of study, extracted from WDI, UNDP, PWT and WGI statistical reports. Results show, not only health and social capital have impressive effect on economic growth, but also their interactions -given that social capital improves physical and mental health indicators- have significant effect on economic growth. As well as, public health improves the social indicators, and therefore has a double effect on the growth and economic development.
Solaleh Tavassoli; Parisa Mohajeri
Volume 8, Issue 29 , December 2017, , Pages 77-96
Abstract
There is no doubt that improving the level of social welfare, meeting the basic needs and achieving to high economic growth rate are the important aims of policy makers. On one hand, coinciding with the year in which codification and approval of 6th development program is on the agenda of parliament ...
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There is no doubt that improving the level of social welfare, meeting the basic needs and achieving to high economic growth rate are the important aims of policy makers. On one hand, coinciding with the year in which codification and approval of 6th development program is on the agenda of parliament and government and on the other hand, lack of financial resources may lead to policy makers have encountered with the issue of identifying key sectors and evaluating importance of economic sectors. In this paper, for the first time we have studied the consequences of 10 percent shutdown in the health sector supply on output and value added of other sectors. For answering this question, we have applied partial extraction method which proposed by Dietzenbacher and Lahr (2013). In addition, we have investigated the dependency of health sector on other economic sectors by means of 10 percent partial extraction of sector’s supplies. Updated domestic Input-Output Tables in 2011 which aggregated in 19 sectors is the basis of calculation. The results show that first; the economy’s total value added was decreased 0,43 percent due to partial extraction (10 percent) of health sector. Second, public and private health sectors in comparison with other subsectors of health are more important because, the total value added of the economy was diminished 0,03 and 0,02 percent because of the reduction in their deliveries. Third, following partial extraction of health sector and its subsectors, the largest decreases in value added take place in the medical instruments, water, electrics and gas, other services and business services while public affairs and education and oil and gas, had the least changes in the value added that reflected low dependency of mentioned sectors on health sector. Fourth, the health sector is most dependent on the manufacturing sector and its value added decreased 0,3 percent by partial extraction on manufacturing sector.
Heshmatollah Asgari; Roohollah Noor Mohammadi
Volume 5, 17(3) , December 2015, , Pages 78-71
Abstract
Considering the highly importance of the agricultural sector in the provincial economy of Ilam and the emergence of awareness of demands for the forms of energy in the mentioned sector, as well as awareness of the price liberalization policies applied on the forms of energy, the present study aims to ...
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Considering the highly importance of the agricultural sector in the provincial economy of Ilam and the emergence of awareness of demands for the forms of energy in the mentioned sector, as well as awareness of the price liberalization policies applied on the forms of energy, the present study aims to investigate the demands for the major energy consumptions in the agricultural sectors. The aim of this study is to determine the influencing factors on energy consumption patterns; and to determine the complementary and altering energy relations, using the estimating demand for different forms of energy. This study applies the Almost Ideal Demand System to estimate the elasticity of the forms of energy. The achieved results exhibit the adversity and conformity of all the energy own-price elasticities to the demand theory. Results on the cross elasticity indicate to large extant identical in both restricted and unrestricted cases and to some extant low for the cross elasticity between the forms of energy. Moreover, the results indicate positive and less than one for the income elasticity of energy in the restricted case, that are considered as an essential commodity.
Economic Growth
Mehdi Khodaei; Mohammad Jafari; Shahram Fattahi
Volume 8, Issue 31 , June 2018, , Pages 79-92
Abstract
Macro-economic relationship between fiscal policy and economic growth has long been considered by economists. In this study to evaluate the more accurate effect of the government's fiscal policy in the economy, using quarterly data for the years 1988 to 2016, a factor-augmented vector autoregressive ...
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Macro-economic relationship between fiscal policy and economic growth has long been considered by economists. In this study to evaluate the more accurate effect of the government's fiscal policy in the economy, using quarterly data for the years 1988 to 2016, a factor-augmented vector autoregressive (FAVAR) model with time varying parameter model (TVP) in Iran's economy has been modeling. The variables of GDP growth, investment growth, inflation, exchange rates, the growth of private consumption expenditure and latent variable of government fiscal policies are used in model. Based on results the effects of fiscal policy on economic growth in the whole period is positive and investment increased the rate of economic growth. Also the additive positive effects of fiscal policy on the unofficial exchange rate has increased over time. In addition, the effect of fiscal policy on inflation is positive, so that the additive effect in economic prosperity period is more. Finally, the effect of fiscal policy on private sector spending is negative. Results of this study show changes in relationships between variables over time and also indicate that economic conditions of the country affects the impacts of independent variables.
Seyed Ebrahim Hoseininasab; Hatef Hazeri Niri
Volume 2, Issue 7 , September 2012, , Pages 80-67
Abstract
Measuring the economic effects of energy subsidy reform and determining how to apply protective measures to reduce its negative effects are the most essential steps in determining the conditions and scenarios of energy price reform. This paper evaluates the effects of energy subsidy reform on inflation ...
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Measuring the economic effects of energy subsidy reform and determining how to apply protective measures to reduce its negative effects are the most essential steps in determining the conditions and scenarios of energy price reform. This paper evaluates the effects of energy subsidy reform on inflation and GDP based on approved scenarios by Parliament in 2010 using standard computable general equilibrium (SCGE) model. The results show that reforming energy carrier’s subsidies without income redistribution will result in a significant fall in total production and employment and will lead to higher inflation. On the other hand, supportive government policies and income redistribution resulting from energy price reforms under various scenarios to producers and consumers considerably will compensate increased production costs and will decline the percent of unemployment and reduction in total production. In contrast, the increased liquidity resulting from redistribution increases the pressure of demand and inflation.
Yaser Feizabadi; Fatemeh Maleki
Volume 5, 17(2) , October 2015, , Pages 80-69
Abstract
Development trend has different stages in different countries so that countries are divided into different categories such as developed, less developed or undeveloped. The development process of different rural areas is not also the same within a country. The aim of this study is to rank and then compare ...
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Development trend has different stages in different countries so that countries are divided into different categories such as developed, less developed or undeveloped. The development process of different rural areas is not also the same within a country. The aim of this study is to rank and then compare the development degree of rural areas of Iran`s provinces using the factor analysis and numerical taxonomy methods in two years 2004 and 2014. The results of the comparison between provinces in 2004 demonstrate nine provinces as developed, eight provinces as moderately developed, four provinces as less developed, and five as under-developed, dozens of other provinces were considered heterogeneous, while the results in 2014 recognize six provinces as developed, eight provinces as moderately developed, six provinces as less developed, six provinces as under-developed and five provinces were considered inconsistent with other provinces. In general, the degree of inequality in rural areas has declined (0.017) slightly after one decade. So production rise within the agricultural sector accompanied by appropriate income distribution among villagers has been advised.
s
Hassan Daliri
Volume 7, Issue 26 , February 2017, , Pages 81-96
Abstract
On the theoretical front the literature on the linkage between FDI and domestic investment is ambiguous. This paper investigates whether foreign direct investment crowds in or crowds out domestic investment in the world. Our data analysis covers 136 of the world countries for the period 2000-2013. This ...
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On the theoretical front the literature on the linkage between FDI and domestic investment is ambiguous. This paper investigates whether foreign direct investment crowds in or crowds out domestic investment in the world. Our data analysis covers 136 of the world countries for the period 2000-2013. This paper uses panel VAR model and we have four samples of countries: 1- total sample (136 countries) 2- OECD member (31 countries) 3- low income (20 countries) 4- OPEC member (10 countries). In addition, the same link in Iran in the period 1990-2014 were analyzed separately. Our main conclusion is that FDI has positive impact on domestic investment in OECD member and OPEC member states but has negetive impact on domestic investment in low income contries. Also, domestic investment has positive impact on FDI in OECD, Low income and total countries and negetive impact in OPEC members.
f
Zahra Dehghan Shabani
Volume 7, Issue 27 , July 2017, , Pages 81-94
Abstract
The present study aims at analysing the effects of financial development on industrial concentration and regional economic growth in Iran. For this aim, we have specified econometrics models and estimated them by using spatial system dynamic panel data (Arellano-Bover/ Blundell-Bond) for 28 provinces ...
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The present study aims at analysing the effects of financial development on industrial concentration and regional economic growth in Iran. For this aim, we have specified econometrics models and estimated them by using spatial system dynamic panel data (Arellano-Bover/ Blundell-Bond) for 28 provinces of Iran over the period 2001-2011 The results indicated that financial development has a positive and meaningful effect on regional economic growth and regional economic growth has a positive and meaningful effect on the financial development and financial development does not meaningful effect on industrial concentration.
Mohammad Ali Ehsani; Yaser Khatibi
Volume 2, Issue 8 , December 2012, , Pages 82-69
Abstract
Capital accumulation is a key factor in economic growth and interest rate is a policy instrument in capital accumulation.In Iran economy, goverment imposes interest rate ceiling in fevored sectors.In this paper , a system of equations including saving and investment function are regressed via (3SLS). ...
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Capital accumulation is a key factor in economic growth and interest rate is a policy instrument in capital accumulation.In Iran economy, goverment imposes interest rate ceiling in fevored sectors.In this paper , a system of equations including saving and investment function are regressed via (3SLS). We conclude that an increase in interest rate increase investment and then mckinnon-shaw hypothesis is not rejected.
f
MohammadAli Maghsoudpour
Volume 6, Issue 24 , September 2016, , Pages 83-106
Abstract
This paper uses the endogenous growth model and the Auto Regressive Distributed Lag Method (ARDL), has been done during 1976 to 2014. To measure the distribution of the population, provincial capitals were selected. Then using Herfindahl -Hirschman Index (HHI), their population distribution calculated ...
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This paper uses the endogenous growth model and the Auto Regressive Distributed Lag Method (ARDL), has been done during 1976 to 2014. To measure the distribution of the population, provincial capitals were selected. Then using Herfindahl -Hirschman Index (HHI), their population distribution calculated and as an index of heterogeneousdistribution of population has been added to the economic model of endogenous growth. The results show a negative impact of uneven distribution of population on economic growth of Iran. According to the results, the application of the policies of decentralization and balanced distribution of the population recommended.
Income inequality
Sohrab Delangizan; Younes Goli; Yahya Goli
Volume 7, Issue 28 , September 2017, , Pages 83-98
Abstract
Growth inequalities are one of the important issues of urban and regional economies. The present study focuses on the Theil inequality index and regional statistics data of Iran during the years 2005 to 2013. This study measures the inequality and examines the effects of industrialization on it. In this ...
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Growth inequalities are one of the important issues of urban and regional economies. The present study focuses on the Theil inequality index and regional statistics data of Iran during the years 2005 to 2013. This study measures the inequality and examines the effects of industrialization on it. In this study, spatial econometrics has been used. Theil inequality index analysis shows that the major share of growth inequality between regions is due to the neighborhood effects between provinces and the difference in productivity. The results show that economic growth of the provinces is convergent and industrialization in a particular province causes a divergence of economic growth. The effects of overflow lead to convergence of economic growth in the provinces. Therefore, increasing investment in less developed regions can lead to convergence of economic growth in the provinces.
توسعه مالی
Hamidreza Horri; seyed jalal; seyed jalla; Simin Sadat Mirhashemi
Volume 8, Issue 30 , April 2018, , Pages 83-100
Abstract
The level of GDP and its growth rate are the most important performance indices in macroeconomics. Therefore, investigation of the effective factors on economic growth is especially significant and one of the most important issues in the field of macroeconomics. The review of literature related to economic ...
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The level of GDP and its growth rate are the most important performance indices in macroeconomics. Therefore, investigation of the effective factors on economic growth is especially significant and one of the most important issues in the field of macroeconomics. The review of literature related to economic growth, showed that granularity in banking is one of the effective factors on economic growth. This paper has studied the simultaneous effects of trade openness and granularity in banking on Iran’s economic growth. Generalized Method of Moments has been used to test the hypotheses. The data has been used in this research is Iran macroeconomics data and data related to Iran Banking network in the years 2001-2012. As expected, The results show that bank granular residual variable and simultaneous effect variable of trade openness and bank granular residual have a negative and significant effect on Iran’s economic growth.
Mojahed Babapour; ISA ALIYEV; Seyed Mohammadreza Seyed Nourani
Abstract
The purpose of this study was to investigate the export function of Iranian agricultural products to neighboring countries. In order to achieve the objectives of the research we have employed an export function model inspired by Yan and Lee article and studied the effect of GDP variables, price ratios ...
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The purpose of this study was to investigate the export function of Iranian agricultural products to neighboring countries. In order to achieve the objectives of the research we have employed an export function model inspired by Yan and Lee article and studied the effect of GDP variables, price ratios and exchange rates on Iran's agricultural exports. The data used here for the estimation of the research model were for the period 2008-2019 and have been processed via the econometric approach and the panel data method.According to the research findings, the effect of increasing GDP of neighboring countries on the export of Iranian agricultural products has been positive and significant. On the contrary, the price ratio and exchange rate ratio between Iran and neighboring countries turned out to have negative and significant influence on the export of Iranian agricultural products. These imply that growth in GDP of neighboring countries has increased the export of Iranian agricultural products to these countries while increasing the ratio of domestic prices to the prices of neighboring countries and increasing the domestic exchange rate relative to the exchange rate of neighboring countries have reduced the export of Iranian agricultural products.
Mahdi Fadaee; Shayesteh Kazemi
Volume 3, Issue 9 , April 2013, , Pages 84-71
Abstract
One of the ways to create jobs is increasing the capacities of jobs through new investments. The aim of this research is to analyze the effects of foreign direct investment (FDI) on job creation in Iran. Thus, 1970-2010 statistical data have been used to survey the relationship between foreign ...
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One of the ways to create jobs is increasing the capacities of jobs through new investments. The aim of this research is to analyze the effects of foreign direct investment (FDI) on job creation in Iran. Thus, 1970-2010 statistical data have been used to survey the relationship between foreign direct investment and employment in a theoretical and experimental frame. By specifying an econometric model, the relations between the variables have been estimated by ARDL model. The results of research show that, foreign direct investment directly and meaningfully influences the economic growth to the extent that it improves the process of job creation opportunities in short run (0.1286) and long run (0.1261). Error correction coefficient (ECM) obtained in this model shows that in each period 10/2 percent of inequelibrium will justify and close to the long run imbalances. CUSUM and CUSUMSQ structural stability tests show that the estimated coefficients are stable over the period.
Economic Growth
Behnam Ebrahimi; Mohammad Vaez Barzani; Rahim Dallali Esfahani; Majid Fakhar
Volume 6, Issue 22 , January 2016, , Pages 84-71
Abstract
It’s expected, theoretically, that financial development, facilitates allocation of resources to most-productive uses and thereby fosters economic growth. Nonetheless, some opponent theories and evidences, implies that financial development may has different and to some extent antonym effects on ...
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It’s expected, theoretically, that financial development, facilitates allocation of resources to most-productive uses and thereby fosters economic growth. Nonetheless, some opponent theories and evidences, implies that financial development may has different and to some extent antonym effects on economic growth in different situations. Specifically, qualitative financial development (financial innovations), in addition to augmenting economic efficiency, could result in regulatory arbitrage (financial institutions efforts to sidestep regulatory restrictions in order to gain more profits) which, in turn, distorts fundamental economic variables from optimum levels and thereby affects economic growth negatively. In this study, we use a semi-parametric model, based on a monetary/financial economic growth model, and data from Iran economy for the period of 1990-2012 to empirically evaluate the effect of unexpected occurrence of financial innovation on capital formation. According to results of the study, qualitative financial development would scale down capital formation and economic growth. Additionally, results reveal that regulated reserve requirements in Iran might be at their optimal level.
Energy
Mohammad Hossein Ehsanfar
Volume 7, Issue 25 , November 2016, , Pages 85-96
Abstract
Energy is a basic need to continuity in economic development, supplying and providing welfare and comfort in human life. Due to the limitation and scarcity of resources and also considering the extended role and importance of energy in countries’ growth and economic development, determining the ...
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Energy is a basic need to continuity in economic development, supplying and providing welfare and comfort in human life. Due to the limitation and scarcity of resources and also considering the extended role and importance of energy in countries’ growth and economic development, determining the effective elements on energy demand is of a special importance. There have been many studies on energy demand in Iran. But this study has taken a different approach. This study deals with both the effect of energy market integration and the effect of economic growth on energy consumption in Iran’s economy during 1975 to 2014, using generalized method of moments. In this study, empirical results showed that integration of energy market and economic growth has significant positive effects on energy consumption. Also the price elasticity of energy demand in all models indicate the low elasticity in Iran’s economy during the mentioned years. Income elasticity has been estimated larger than one in final models.
Shahabeddin Shams; Mohsen Alizadeh Sani; Hamid Jafari
Volume 4, Issue 15 , August 2014, , Pages 86-77
Abstract
Today, providing different economic, social and political indicators has become one of the most important researchers’ activities. This issue has also risen in banking and non-banking sectors. This paper aims to analyze Iran’s economic trend from financial development perspective by introducing ...
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Today, providing different economic, social and political indicators has become one of the most important researchers’ activities. This issue has also risen in banking and non-banking sectors. This paper aims to analyze Iran’s economic trend from financial development perspective by introducing and studying the banking and non-banking indicators and their relationship and also attempts to present possible solutions to the existing problems. The results show that in the non - banking sector, all the independent variables have meaningful relations to non-banking sector latent variable directly. It means that all the relations are established directly. Moreover, in the banking sector, value-added services variable in monetary and financial institutions, the banking network efficiency, private sectors’ share in banking, private sector’s share from banking facilities, the ratio of banks and monetary institutions’ assets to the assets of banking system have meaningful relation with banking sector latent variable directly. In addition, banking profit margins and banks’ focus degree have meaningful relation to banking sector latent variable indirectly. It implies all direct and indirect relations are established and the canonical correlation equals to 0.89.
Abolghasem Esnaashari; Mohammad Hossein Pourkazemi; Asghar Abolhasani Hastiani; Ahmad Lotfi Mazraeshahi
Volume 3, Issue 12 , November 2013, , Pages 88-75
Abstract
The internal saving in a country, is the most important source for financing and economic growth. These savings are confronted with risk of a volatile rate of return to capital. The uncertainty in the rate of return on capital may lead to distorted economic decisions by the savers, consumers and investors. ...
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The internal saving in a country, is the most important source for financing and economic growth. These savings are confronted with risk of a volatile rate of return to capital. The uncertainty in the rate of return on capital may lead to distorted economic decisions by the savers, consumers and investors. Depending on the pattern of these behaviors we may observe deviations in the rate of economic growth. This study attempts to estimate the rate of economic growth with uncertainty in the rate of return on capital using standard Brownian motion and the optimized random control to compare it with the planned rate of economic growth. The findings indicate that; if the risk-aversion coefficient is less than one, the average long-term rate of economic growth will be less than the planned growth rate. Further, using the data on Iranian economy for the period 1974-2011, first, a dynamic model, based on SDE, was simulated for GDP by rate of growth %3.85, then, the relationship between capital return volatility (using the EGARCH model) and the rate of economic growth was analyzed. The results are indicative of a negative relationship between growth rate and the fluctuations in the rate of return on capital.
Mahmood Yahyazadehfar; Amir Mansour Tehranchian; Mahyar Hami
Volume 4, Issue 16 , November 2014, , Pages 88-73
Abstract
The purpose of this paper is to study the impact of social capital on financial development in Iran. To do so, the statistical data were collected during 1984 to 2012 and vector error correction model was used. The number of annually judicial cases about returned checks and liquidity to real gross domestic ...
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The purpose of this paper is to study the impact of social capital on financial development in Iran. To do so, the statistical data were collected during 1984 to 2012 and vector error correction model was used. The number of annually judicial cases about returned checks and liquidity to real gross domestic product ratio were selected as proxies of social capital and financial development respectively. The results derived from Johansen cointegration test indicate that there is a long-run equilibrium relation between social capital and financial development in Iran. Also vector error correction model estimates show that social capital has a positively significant impact on financial development in Iran.
Economic Growth
Abolfazl Shahabadi; Hossein Sohrabi vafa; Yunes Salmani
Volume 6, Issue 23 , May 2016, , Pages 88-75
Abstract
The recent economic growth theories believe that the inovation developed in response to economic incentives is the main engine of technological progress and economic growth traditionally. Thus this study investigates the role of capital and R&D activities in Iran, Turkey and Malaysia with distributed ...
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The recent economic growth theories believe that the inovation developed in response to economic incentives is the main engine of technological progress and economic growth traditionally. Thus this study investigates the role of capital and R&D activities in Iran, Turkey and Malaysia with distributed lag regression during 1981-2012. The result indicates that in the long term, in Malaysia, impact of R&D activities, is sustainable and more stable on economic growth in comparison with Iran and Turkey. Also the R&D investment compared with physical capital has a greater impacton economic growth inTurkey and Iran.
