Document Type : ORIGINAL ARTICLE
Authors
1 Phd student in Monetary and Financial Economics, Sistan and Baluchestan University, Iran
2 Associate professor, Faculy of economics, University of Sistan and Baluchestan, Iran
3 Assistant Professor of Economics,, Hazrat-e Masoumeh University, Qom, Iran.
Abstract
Achieving economic growth and development is one of the most important concerns of any economic system. A developed financial system is considered one of the most important requirements for achieving sustainable economic growth and development; therefore, considering limited resources, financing investments, allocating and directing resources towards productive sectors and activities, and on the other hand, the necessity of increasing productivity and optimal use of production factors in order to achieve maximum economic growth efficiency and increase competitiveness in order to improve economic performance, is very important. Accordingly, the purpose of this study is to examine the effect of credit and productivity on the growth of value added of Iran's economic sectors by using seasonal time series data and using the generalized factor vector autovariance (FAVAR) approach in the time period q41402-q11391. According to the results of the study, the response of value added growth of economic sectors to credit and productivity shocks is not uniformly distributed in terms of timing and magnitude; In a way, the industrial sector has been more sensitive to credit and machinery capital formation, the agricultural sector to productivity, and the services sector to the exchange rate in a sectoral comparison.
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