Morteza Sameti; Homayoun Ranjbar; Monireh Hematzadeh
Volume 3, Issue 9 , April 2013, , Pages 40-25
Abstract
This study seeks to investigate the relationship between the development of financial sector and real sector in an economy under the asymmetric information because true growth is conditioned to the development of the financial structure, so that, countries with more developed financial sector, enjoy ...
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This study seeks to investigate the relationship between the development of financial sector and real sector in an economy under the asymmetric information because true growth is conditioned to the development of the financial structure, so that, countries with more developed financial sector, enjoy a higher rate of growth than the other countries. In this study the economic growth criterion denotes the development of the real sector, and variables such as ratio of the value of the stock exchange to GDP has been introduced as a criterion of development of financial sector. Also, logarithm of variance of the stock exchange price index and bank credits of the private sector index have been applied as a criterion of asymmetric information in the fiscal and money market. This model is estimated by applying panel data method for selected developed and developing countries in 1993-2008. The results depict the higher effectiveness level of financial market in comparison with money market in the developed countries, also financial structure of the developed countries differs from the developing ones because of a high level and evolved information symmetry in the developed countries, while in the developing countries, the money market is stronger than the stock exchange.
morteza sameti; Homayun Ranjbar; Fazilat Mohseni
Volume 1, Issue 4 , December 2012, , Pages 223-183
Abstract
Good governance is a concept that was proposed in the development literature as a key to the development puzzle in the late 90’s. This concept is derived from the theory of institutionalization and is the product of three institutions including government, private sector and civil society. World ...
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Good governance is a concept that was proposed in the development literature as a key to the development puzzle in the late 90’s. This concept is derived from the theory of institutionalization and is the product of three institutions including government, private sector and civil society. World Bank defines good governance based on six indicators including: voice and accountability, political stability, no violence, government effectiveness, regulatory quality, rule of law and control of corruption. This paper has examined the effect of good governance indicators (prepared by the World Bank) on human development index (HDI) as a criterion for development, in ASEAN countries during 2000-2009 by using panel data analysis. UNDP claims that the hdi is superior to per-capita gdp for measuring development. The result finds that among six indicators of good governance, political stability, no violence, government effectiveness, regulatory quality and rule of law have positive and statistically significant effect on human development index.
Export Diversification
Karim Azarbaiejani; Molood Raki; Homayoun Ranjbar
Volume 1, Issue 3 , January 2012, , Pages 201-165
Abstract
According to discussion of export growth and economic growth, export diversification issue has been considered by many policymakers to mean the increase of exports commodity and reducing its dependence on one source of income. In other words, regardless of the composition or concentration of a country’s ...
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According to discussion of export growth and economic growth, export diversification issue has been considered by many policymakers to mean the increase of exports commodity and reducing its dependence on one source of income. In other words, regardless of the composition or concentration of a country’s export, more export commodities means more diversified exports. In recent years, export diversification in developing countries that mainly rely on exporting a single product has become a political priority. This study makes use of the new growth and international trade theories and panel data methods to examine the impact of export diversification on total factor productivity (TFP) and economic growth during the 1999-2007 in D-8 countries. The research results show that export diversification has a positive and statistically significant effect on the TFP and economic growth. Therefore to create economic growth and sustainable development, Iran has to pay attention to the export diversification policy as well as other factors that affect TFP and economic growth.
