Firouz Fallahi; Mohsen Porebadallahan; SeyedKamal Sadeghi; Tohid Shokri
Abstract
The relationship between the economic growth and the environment quality and degradation is one of the most debated topics among the economists and environmentalists. Economic growth usually requires more consumption of energy, which leads to more environment degradation. Substituting renewable energy ...
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The relationship between the economic growth and the environment quality and degradation is one of the most debated topics among the economists and environmentalists. Economic growth usually requires more consumption of energy, which leads to more environment degradation. Substituting renewable energy sources for fossil fuels would prevent environment degradation; however, it will hinder the economic growth. Therefore, the relationship between the economic growth and environment could go in both directions and previous studies have shown different results. This study uses time-frequency analysis through wavelet transforms to examine this relationship in Iran using the data from the first quarter in 1991 to the last quarter in 2016. This approach allows identifying the change in the relationship between the variables over different time horizons. To that end, we calculate the coherence and energy of the wavelets over different time horizons using Matlab 2018a. The results show that in the short-run (less than a year) and mid-run (between one and four years), economic growth is the cause of environment and an increase in the economic growth would cause environment degradation. The results from the short and medium run show that this relationship was much stronger during the periods 2012-2015 and 2009-2010. However, in the long run, there is no causality between the two variables so environment regulations would not hinder the economic growth.
hamid khavari; Mohammad Ali Falahi; Narges Salehnia
Abstract
In Iran, oil supplies the needed fuel and is the main source of foreign exchange earnings. Thereby, any volatility in oil prices will affect Iran's foreign exchange earnings at first and economic growth through time. This study, using Structural Vector Auto Regression (SVAR) model, investigates the effects ...
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In Iran, oil supplies the needed fuel and is the main source of foreign exchange earnings. Thereby, any volatility in oil prices will affect Iran's foreign exchange earnings at first and economic growth through time. This study, using Structural Vector Auto Regression (SVAR) model, investigates the effects of oil price volatility on economic growth of Iran through some institutional, monetary and financial variables during the period 1981-2017. The results show that the impulse of oil price volatility has a negative reaction from the growth of production. The index of democracy's reaction to the oil volatility is negative and, given its direct relation to production growth, overall production growth is reduced. Similarly, as for the government expenditures, it leads to reduced production growth. But the M2 has a positive reaction to the volatility of world crude oil prices and also has a positive effect on the production growth in the short run. The results also show that the most important variable affecting production growth changes in both the short and long run is the impact of government expenditures changes. Then, for achieving sustainable growth and using private sector dynamics, the assignment of public sector companies to the private sector based on the Article 44 of the Constitution should be followed.
reza zamani; masoud majidi
Abstract
Analysis of optimum and threshold rates of government debt in Iran and the effect of public debt on economic growth are the major purposes of this paper. As government debt is both economic and political phenomena, there are a lot of political economic literature that focus on some dimensions including ...
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Analysis of optimum and threshold rates of government debt in Iran and the effect of public debt on economic growth are the major purposes of this paper. As government debt is both economic and political phenomena, there are a lot of political economic literature that focus on some dimensions including intergerneration redistribution, re-election of governments, political budget cycles, fiscal illusion, and bargaining in legislation. Government debt affects economic growth through six channels, including government expenditure, interest rate, future tax, possibility of vicious triangle crises (debt, bank, and currency crises), and counter cycle policies. There are three points about the effect of government debt on economic growth: positive, negative, or threshold effect. Using yearly data from 1974-2016 and OLS approach, we show that relationship between government debt and economic growth in Iran is inverse U, and the optimum rate of debt index (portion of government debt to GDP) in Iran is about 54.16 percent and the threshold level is about 108.32 percent. Moreover, it has been shown that from 1974 to the middle of 2000’s, public debt to central bank was more than public debt to banking system, but after that mentioend trend has been reversed
s
Ahmad Ali Asadpour
Abstract
The purpose of this study is to investigate the effect of uncertainty in inflation, bank finance, bank interest rates, liquidity, stock prices, price index and GDP on housing prices in Iran. In order to achieve this goal, seasonal data has been used during the period 1991 to 2013. EGARCH pattern (1,1) ...
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The purpose of this study is to investigate the effect of uncertainty in inflation, bank finance, bank interest rates, liquidity, stock prices, price index and GDP on housing prices in Iran. In order to achieve this goal, seasonal data has been used during the period 1991 to 2013. EGARCH pattern (1,1) as an estimation of AR (4) residues for inflation is used as a substitute for inflation uncertainty measurement, and a short-term model and long-term relationships between research variables have been set. The results of short-term model and long-run pattern show that uncertainty regarding inflation, interest rate, liquidity, GDP and national income have a positive and significant effect on housing prices. Indeed, stock prices and housing finance have a negative and significant effect on housing prices. It is noteworthy to state that there are different sensitivities to housing prices in most variables, such as household income per capita, liquidity, and stock price index in the long term and short-term; so that, according to the theory, the elasticity of house prices relative to household income per capita, the volume of money and the stock price index in the long run is more than short-term. The results of the estimation of the error correction model indicate that in each period, about one fourth of the imbalance of dependent variable of its long-term equilibrium values over a period is moderated and eliminated in the subsequent period. In other words, if any shock or inequilibrium occurs in housing prices, it will return to equilibrium after four periods.
Economic Growth
jalal montazeri shoorekchali
Abstract
Considering the importance of discussing the effect of government debt size on economic growth, this study examines the validity of the debt laffer curve using a Smooth Transition Regression (STR) model in Iran during 1973-2016. The findings support a threshold behavior of two regimes between the government ...
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Considering the importance of discussing the effect of government debt size on economic growth, this study examines the validity of the debt laffer curve using a Smooth Transition Regression (STR) model in Iran during 1973-2016. The findings support a threshold behavior of two regimes between the government debt size and economic growth in the Iran's economy. The threshold level of government debt size is 41.70% of the GDP. In periods that the government debt size is less than 41.70 % or the first regime, government debt size has a negative effect on economic growth. Therefore, the evidence does not corroborate the existence of the Debt Laffer Curve in Iran's economy. The disapproval of this hypothesis and the negative impact of government debt on economic growth - at low levels of debt size - can be rooted in the fact that government spends the borrowed funds on the deficits that emerged from structural imperfection and institutional rigidity, while it should be used to develop infrastructures or foster productive investments.
International Commerce
Hanane Aghasafari; Milad Aminizadeh; Alireza Karbasi
Abstract
Institutions and infrastructure as a set of social factors, rules, beliefs and infrastructure services are the key factors influencing bilateral trade between countries. So, this study investigates the effects of institutions and infrastructure on Iran’s bilateral trade with the main trading partners. ...
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Institutions and infrastructure as a set of social factors, rules, beliefs and infrastructure services are the key factors influencing bilateral trade between countries. So, this study investigates the effects of institutions and infrastructure on Iran’s bilateral trade with the main trading partners. For this purpose, gravity model, poisson pseudo maximum likelihood was developed and the analysis was based on panel data of trade volume between Iran and the trading partners over the period 2003-2016. The results implies that the interaction effect of different institutional indicators on Iran's bilateral trade with developing country partners and developed country partners are negative and significant. So that, Iran tends to trade more with less corrupt countries, higher political stability, implementing trade facilitation laws and more democracy. The positive and significant impact of the different institutional distance indicators on Iran's bilateral trade with developing country partners and developed country partners confirm that Iran tends to trade more with the partners that have stronger institutions. Moreover, the positive and significant effect associated with transport and communications infrastructure on Iran's bilateral trade with developing country partners and developed country partners indicates that the infrastructure facilitates trade between Iran and the main trading partners.
Mozhgan Moallemi
Abstract
The economic vulnerability of some countries stems from the fact that their economies are largely influenced by forces outside their control. Areas that are most affected by economic shocks should promote the position of a resilient economy in their policies. This paper tries to examine the impact of ...
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The economic vulnerability of some countries stems from the fact that their economies are largely influenced by forces outside their control. Areas that are most affected by economic shocks should promote the position of a resilient economy in their policies. This paper tries to examine the impact of economic vulnerability on the development index of MENA countries in the 1995-2015 period using the econometric method and panel data approach. The results of the study indicate a negative and significant relationship between economic vulnerability and development index in the target countries. The innovation of this study is to calculate the impact of economic vulnerability in different countries. Iran is ranked sixth in terms of the fragility of the economy against economic shocks. Countries that are ranked worse are often those countries that either face political instability (domestic wars) or have a strong dependence on oil revenues. In this way, policies such as reducing dependence on oil revenues and paying attention to political stability are introduced as tools for controlling and strengthening the economy against external economic shocks.
بازار سرمایه
Mahboubeh Jafari
Abstract
Using Markov Switching model, this paper studies the nonlinear effect of oil price volatility on investment in Iran as an oil-rich country for the period 1984:1-2015:4. More specifically, it examines whether the oil price volatility has asymmetric effect on investment. To approach this goal, volatility ...
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Using Markov Switching model, this paper studies the nonlinear effect of oil price volatility on investment in Iran as an oil-rich country for the period 1984:1-2015:4. More specifically, it examines whether the oil price volatility has asymmetric effect on investment. To approach this goal, volatility of OPEC oil price is estimated by Exponential GARCH (EGARCH) model.The results of Markov-switching model with FTP approach indicate that the effects of oil shocks on investment behavior are separable into two regimes. In other words, the impacts of oil shocks on investment in Iran economy over the booms and recessions are asymmetric. Moreover, our finding shows sanctions imposed by the US against Iran affect investment behavior negatively. We also find that 2008 financial crisis doesn’t affect investment decision. Furthermore, we find out that an improvement in the institutional quality enhances the investment demand. Our findings might have important policy implications for government in Iran. It also provide essential information for companies.
s
Mohammad Jafari
Volume 8, Issue 29 , December 2017, , Pages 61-76
Abstract
Due to the important role of economic globalization in income inequality of countries, the purpose of this paper is to investigate the non-linear impact of economic globalization on income inequality in Iran during 1979-2014. For this purpose, is used the smooth transition regression (STR) model. The ...
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Due to the important role of economic globalization in income inequality of countries, the purpose of this paper is to investigate the non-linear impact of economic globalization on income inequality in Iran during 1979-2014. For this purpose, is used the smooth transition regression (STR) model. The estimated Smooth Transition Regression (STR) model supports a nonlinear threshold behavior in the relationship between economic globalization and income inequality in the country in a two regime structures with positive effect and a threshold level of about 26/15%. so that increases the intensity of this positive impact with crossing threshold level and entering the second regime.
total factor productivity of production؛
Abolfazl Shah-Abadi; Sara Sari Gol
Volume 7, Issue 28 , September 2017, , Pages 141-164
Abstract
Oil plays an important role in financing the country and can be used as a positive tool for improving total factor productivity and can reduce technical gap with developed countries. But most of the oil countries with oil revenues, despite the considerable value of these resource revenues, do not have ...
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Oil plays an important role in financing the country and can be used as a positive tool for improving total factor productivity and can reduce technical gap with developed countries. But most of the oil countries with oil revenues, despite the considerable value of these resource revenues, do not have appropriate economic performance. Therefore, this study utilizes a system of simultaneous equations to evaluate the direct and indirect effects of oil on the economy's total factor productivity during the period 1978-2013. The results by 3SLS show, the direct effect of oil revenues on total factor productivity is negative and significant. Also the effect of oil revenues on the equations of human capital accumulation, domestic research and development accumulation and financial development equations are negative and significant and in the research and development spillovers of trade partners and information and communication technology accumulation equations are positive and non-significant. According to the results, the effect of human capital, domestic research and development accumulation, research and development spilloversof trade partners, and information and communication technology equations are positive and significant and the effect of financial development on total factor productivity is positive and non- significant. Therefore, it is expected that politicians and decision-makers with the management of appropriate resources (coordination of supply and demand side policies with a focus on the development of knowledge-based components market) take steps in order to create endogenous technical change and improve total factor productivity.
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.
s
Mohammad Hassan Fotros; ali dalaei milan
Volume 7, Issue 25 , November 2016, , Pages 65-84
Abstract
Planning for economic development and making a decision for the implementation of economic policies, need to understand the performance of the whole economy, including the official sector and the underground sector. Understanding the performance of the whole economy requires to know economic information ...
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Planning for economic development and making a decision for the implementation of economic policies, need to understand the performance of the whole economy, including the official sector and the underground sector. Understanding the performance of the whole economy requires to know economic information system situation and its efficiency. This study used a DSGE model framework for modelling the underground economy and the effect of oil shock, fiscal impulses (such as changing tax rates) and the shock of productivity on the official economy and underground economy. The results of the evaluation showed that the present model was well able to simulate cyclical behavior and volatility of the variables. The results also showed that a positive impulse to the productivity of official sector caused an increase in official production and a decrease in underground economy and this consequently reduced tax evasion and increased government revenue. On the contrary an impulse to the underground sector productivity of, leaded to a decrease in official production, an increase in underground production and consequently an increase in tax evasion and reducing the government's revenues. Furthermore, a positive shock in the corporate tax rate and income tax rate reduced the official production, increased underground production and tax evasion and decreased government revenue. Positive shock to oil revenues increased official production and reduced underground economy and consequently reduced tax evasion and increased revenue for the government..
Ebrahim Moradi; Mosayeb Pahlavani; Ahmad Akbari
Volume 5, 17(3) , December 2015, , Pages 90-79
Abstract
Producers, who have lower efficiency in wheat production, can use the experiences of other producers and increase their efficiency over time. based on existing theories, probably producers with low initial levels of efficiency will have grown their efficiency faster than producers that have high levels ...
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Producers, who have lower efficiency in wheat production, can use the experiences of other producers and increase their efficiency over time. based on existing theories, probably producers with low initial levels of efficiency will have grown their efficiency faster than producers that have high levels of efficiency and a convergence over time will be between them. To investigate the convergence of cost efficiency, information on input prices, yield per hectare and production cost per hectare for irrigated wheat, were collected for 28 provinces in a 10-years period. By studying different methods of stochastic frontier cost function with panel data, "true random effects Model" of stochastic frontier method was selected. The model was estimated by using Simulation Halton method. Then Cost efficiency was calculated for each province. Beta and Sigma convergence test was conducted on cost efficiency. Results show that, changes of land rent (price) has the greatest impact and changes in the price of fertilizer per hectare has the lowest impact on production cost per hectare. Also, we find that There is Beta convergence (convergence of efficiency increase over initial levels) and Sigma convergence (convergence dispersion efficiency over time), between different provinces to improve cost efficiency in wheat production.
Entrepreneurship
Mohammad Hossein Ehsanfar; Abolghaseme Asna-Ashari Amiri; Seyedeh Vajihe Mikaeeli
Volume 5, Issue 20 , August 2015, , Pages 119-109
Abstract
The main aim of this research is investigating the relationship between unemployment and job vacancies and also the relationship between the number of job seekers and job vacancies in provinces of Iran. In other words, this paper seeks to obtain the Beveridge curve and Matching Function in provinces ...
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The main aim of this research is investigating the relationship between unemployment and job vacancies and also the relationship between the number of job seekers and job vacancies in provinces of Iran. In other words, this paper seeks to obtain the Beveridge curve and Matching Function in provinces of Iran. Beveridge curve is an equilibrium relationship which equates unemployment input and output flows. Matching Function describes the equilibrium in the labor market and then shows the normal state of the country in the long run. Using panel data, this study has been done in 30 provinces of the country, in the years 2007 to 2011. The results of the Matching Function have shown positive and significant relationship between job vacancies and job matching. Beveridge curve evaluation results are also consistent with theoretical foundations and have proven negative and significant relationship between unemployment rate and job vacancies. Job vacancies squared positive coefficient indicates convexity of Beveridge curve.
Ali Hussein Samadi; Zahra Dehghan Shabani; Atefeh Moradi Kouchi
Volume 5, Issue 19 , June 2015, , Pages 72-57
Abstract
The aim of this paper is to analyze the effects of income inequality on economic growth in 28 provinces of Iran during 2000-2011 by using Geographically Weighted Regressions (GWR) and Dynamic Panel Data (DPD) models. This paper has tried to study the spatial heterogeneity among 28 provinces in Iran by ...
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The aim of this paper is to analyze the effects of income inequality on economic growth in 28 provinces of Iran during 2000-2011 by using Geographically Weighted Regressions (GWR) and Dynamic Panel Data (DPD) models. This paper has tried to study the spatial heterogeneity among 28 provinces in Iran by using the Mont-Carlo and Inter-quartile tests. The results show that spatial heterogeneity exists for income inequality, human capital and logarithm of real per capita income. This paper is focused on geographic weighted model that contain spatial heterogeneity. The empirical results of GWR and DPD models have shown that income inequality has a negative effect on economic growth in Iran.
Mahdi Fadaee; Morteza Derakhshan
Volume 5, Issue 18 , March 2015, , Pages 132-113
Abstract
Following the economic sanctions that have been imposed on Iran in the years after the Islamic Revolution, always economists were facing this question that; what is the effect of economic sanctions on different economic variables and how much is it? This study aims to analyze the effect of economic sanctions ...
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Following the economic sanctions that have been imposed on Iran in the years after the Islamic Revolution, always economists were facing this question that; what is the effect of economic sanctions on different economic variables and how much is it? This study aims to analyze the effect of economic sanctions as dummy variable on economic growth in Iran, using Indexing and weighting (determining the importance) of various sanctions that historically imposed on Iran. For this purpose, using time series data and Auto Regressive Distributed Lag (ARDL) model, we analyze the effect of economic sanctions on economic growth from 1978 to 2013. Short-run estimation results show that in the short term weak sanctions had not significant effect on economic growth, but moderate and strong sanctions respectively with coefficients 0.0098 and 0.43, has had a negative effect on economic growth. Long-run estimation results show that in long term weak and strong sanctions had not significant impact on economic growth, but moderate sanctions with coefficient 0.024 has had a negative impact on economic growth. Finally error correction coefficient in model is - 0.407.
Ahmad Jafari Samimi; Mohammad Ali Ehsani; Amir Mansour Tehranchian; Saman Ghaderi
Volume 4, Issue 16 , November 2014, , Pages 40-21
Abstract
Keynesian economists has focused on three types of asymmetric effects of monetary policy: (a) asymmetry related to the direction of the monetary policy action (positive and negative), (b) asymmetry related to the size of the monetary policy action (large and small); and (c) asymmetry related to ...
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Keynesian economists has focused on three types of asymmetric effects of monetary policy: (a) asymmetry related to the direction of the monetary policy action (positive and negative), (b) asymmetry related to the size of the monetary policy action (large and small); and (c) asymmetry related to the phase of business cycle in place at the time at which this policy was adopted. This study based on third group, examines the asymmetric effects of monetary gap on inflation in high and low inflation employing a Markov switching regime and P-star model to explain the behavior of inflation in Iran during 1990Q2- 2011Q3. Also, due to the role of money in measuring money stock and monetary gap, simple sum and Divisia monetary aggregates have been used. The results show that the effects of monetary gaps in inflation regimes are not same and investigated asymmetric. Also, these effects in high inflation regimes are weaker than low inflation regimes that it is opposite with conventional view. This matter could be have the reasons as the interruptions of the monetary policy effects, the instability of money demand and more importantly, reduction in velocity of money due to the stagnation in Iran's economy and increase in speculative activities. It is suggested that the Central Bank design the appropriate policies with these regimes. Also, results show that Divisia compared simple sum monetary aggregates is more efficiently. Thus, it seems that Divisia monetary aggregates is a better proxy for examination of the role of money in macroeconomic policies.
Ahmad Jafari Samimi; Jalal Montazeri Shoorekchali; Musa Tatar
Volume 4, Issue 13 , January 2014, , Pages 128-117
Abstract
Regarding the important role of health in economic growth and development, the purpose of the present paper is to investigate the impact of life expectancy, as the most important indicator of health, on economic growth in Iran during 1965-2009. The estimated Smooth Transition Regression (STR) model supports ...
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Regarding the important role of health in economic growth and development, the purpose of the present paper is to investigate the impact of life expectancy, as the most important indicator of health, on economic growth in Iran during 1965-2009. The estimated Smooth Transition Regression (STR) model supports a nonlinear threshold behavior in the relationship between life expectancy and economic growth in the country in a two regime structures with a threshold level of 55.34 years. In other words, our findings are both consistent with Acemoglu and Johnson (2007) for the negative impact and with demographic transition theory for the reducing effect of life expectancy on economic growth in Iran. This shows the country is approaching the stage of the fertility transition, where the increase in life expectancy will bring about a decline in population.
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.
Hamed Sahebhonar; Ali Cheshomi; Mohammad Ali Falahi
Volume 3, Issue 11 , September 2013, , Pages 56-41
Abstract
Empirical studies show that money has real effects in short-run but is neutral in long-run. According to transmission chanels of monetary policy, there is a possibility that each sector has a different response to monetary shocks. This paper, using the BVAR method and seasonal data, investigates the ...
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Empirical studies show that money has real effects in short-run but is neutral in long-run. According to transmission chanels of monetary policy, there is a possibility that each sector has a different response to monetary shocks. This paper, using the BVAR method and seasonal data, investigates the sectoral effects of monetary shocks during 1988:Q2 to 2011:Q2. The results show that monetary shocks have real effects in short-run and the reaction of sectors are different. In addition, the effects of moneatary shocks on services and industry sectors are stronger than on agriculture sector.
Mohammad Ali Falahi; Mohammad Hosein Hoseinzade Bahreini; Hasan Moghadam Nejad
Volume 2, Issue 8 , December 2012, , Pages 36-23
Abstract
Increasing productivity, as a way to reduce the gap between supply and demand and also as a factor to reduc the production costs and to increase the efficiency of resources use and the quality and competitiveness of products, is considerable for economists and policymakers. On the other hand, the ...
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Increasing productivity, as a way to reduce the gap between supply and demand and also as a factor to reduc the production costs and to increase the efficiency of resources use and the quality and competitiveness of products, is considerable for economists and policymakers. On the other hand, the reduction of unemployment is another challenge facing the countries of the world too. But the ambiguity to achieve both goals simultaneously has been appeared in the recent theoretical and empirical studies. The main question in this study is whether productivity enhancing, causes reduction in Iran's indusrial employment? to address this question, a multivariate structural VAR model, including industrial labor productivity, employment and CPI for the 1973-2007 period has been applied and the data gathered from APO, statistic center and central bank of Iran. Estimation of structural model is based on Blanchard-Quah decomposition approach. The results show that promoting productivity policies have little role and importance in the employment variations, thereby its size in reducing employment in the long run is negligible.
Saeed i Rasekh; Milad Shahrazi; Mohamad Reza Abdollahi
Volume 2, Issue 7 , September 2012, , Pages 90-81
Abstract
This paper examines asymmetric impact of exchange rate and its risk (volatility) on Iran’s non oil export. The asymmetric effect indicates to differently affect exchange rate and its volatility on export at periods of exchange rate moving up and down. To test this hypothesis, we have first measured ...
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This paper examines asymmetric impact of exchange rate and its risk (volatility) on Iran’s non oil export. The asymmetric effect indicates to differently affect exchange rate and its volatility on export at periods of exchange rate moving up and down. To test this hypothesis, we have first measured the volatility by using exponential GARCH and then we’ve estimated the export equation including the volatility during time period 1959-2007. Based on the results, the effect of exchange rate on the export is positive and asymmetric. Also, the volatility of exchange rate has a negative and an asymmetric effect. So, the hypothesis is verified. This may be due to the asymmetric feeling of exporters about the risk and reflect their anti risk behavior. Based on the results, economic policy makers should make different policies while exchange rate moving down compared with its moving up in order to minimize the negative effects of the volatility.
Yadollah Dadgar; Rouhollah Nazari
Volume 2, Issue 6 , May 2012, , Pages 172-149
Abstract
One of the most well known methods for explaining the growth in public sector is Wagner's law, which explains the growth of government size. Wagner argues that the more per capita income in economy, the bigger would be the government size. Using panel data method, this paper is analyzing Wagner's law ...
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One of the most well known methods for explaining the growth in public sector is Wagner's law, which explains the growth of government size. Wagner argues that the more per capita income in economy, the bigger would be the government size. Using panel data method, this paper is analyzing Wagner's law for Iran and southeastern Asian countries .The results confirm the consistency of Wagner's law for both Iran and those selected countries.
Gholamreza Mesbahi Moghadam; Hossein Meisami; Mohsen Abdollahi; Mehdi Ghaemi Asl
Volume 2, Issue 5 , March 2012, , Pages 130-91
Abstract
Introducing Waqf as an Islamic economic institution, this paper proposes a native model for the establishment of micro finance institutes in Iran and highlights the financing sources and allocation ways for them. In addition, it examines the Fiqh economic establishment possibility of such institutions ...
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Introducing Waqf as an Islamic economic institution, this paper proposes a native model for the establishment of micro finance institutes in Iran and highlights the financing sources and allocation ways for them. In addition, it examines the Fiqh economic establishment possibility of such institutions in the country. After all, the characteristics and potencies of such Islamic micro finance institutions are evaluated and some lights are shed on the probable challenges they might face and solutions are looked for these challenges. The findings of this study, which are based upon theoretical analyses, show that the institution of Waqf in Islamic economic system has the Fiqh economic potential to be used as a financial source for Islamic micro finance institutions
رقابت
Firouz Fallahi; Ali Dehghani
Volume 1, Issue 1 , January 2012, , Pages 30-9
Abstract
This paper investigates the effect of concentration and advertising on profitability in Iranian Industrial firms, with more than 9 employees. Dynamic panel data technique is used along with the data during the period 1374-1381 to study this issue. The results show that the concentrated industries have ...
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This paper investigates the effect of concentration and advertising on profitability in Iranian Industrial firms, with more than 9 employees. Dynamic panel data technique is used along with the data during the period 1374-1381 to study this issue. The results show that the concentrated industries have a higher profitability than the others. In addition, advertising has a positive effect on the profit of the Iranian industries.
