Globalization
Davod Alirezazadeh Sadaghiani; Samad Hekmati Farid; Kiumars Shahbazi; Seyed Jamaledin Mohseni Zonozi
Abstract
Globalization is an undeniable phenomenon in the current era and different theories of globalization-economic growth show that there is no theoretical agreement in this regard and there are many supporters and oppositions in this field. Considering that, firstly, globalization has different aspects including ...
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Globalization is an undeniable phenomenon in the current era and different theories of globalization-economic growth show that there is no theoretical agreement in this regard and there are many supporters and oppositions in this field. Considering that, firstly, globalization has different aspects including economic, cultural and political. Second, the effects of globalization are different in developing and developed countries and thirdly, according to the theoretical point of view, the effect of globalization on economic growth varies over time. Therefore, in the present study, using the time-varying non-parametric panel data model and applying three different aspects of economic, cultural and political globalization KOF index, we consider the de facto and de jure effects of the mentioned index. It has been investigated the different effects of globalization over time on the GDP per capita of countries with high per capita income (28 countries) and middle per capita income (36 countries).
The results of estimating the model used in this research based on the local linear dummy variable method for time-varying non-parametric panel data showed that except for the first few years in the period from 1980 to 2019, the economic globalization index has increased the per capita income of countries with high per capita income. However, the index of economic globalization in countries with middle per capita income had a positive effect on per capita income only in the years 1996 to 2008, and had a negative effect on it in the rest of the years. Also by dividing globalization into de facto and de jure aspects determined both de facto and de jure aspects of economic globalization during the period from 1980 to 2019 on average have led to economic growth in countries with high per capita income. But de jure aspects of economic globalization almost had a positive effect on the economic growth of countries with middle per capita income especially after 1995 to 2019 and economic globalization has a negative effect on the economic growth of these types of countries from a de facto aspect in most of the investigated years.
OPEC
Reihaneh Larijani; Seyed Kamal Sadeghi; Zahra Karimi Takanlu; Reza Ranjpur
Abstract
This study has been used to investigate the effect of oil price fluctuations on the banking system and how it is related to the macroeconomics, using the quality of bank fragility introduced by Kibritçioglu (2003) and the selection auto regression method with the Markov switching model.
Since ...
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This study has been used to investigate the effect of oil price fluctuations on the banking system and how it is related to the macroeconomics, using the quality of bank fragility introduced by Kibritçioglu (2003) and the selection auto regression method with the Markov switching model.
Since fluctuating and unstable economic conditions have an impact on economic conditions and the banking system to detect the effect of oil prices, using the variables of fragility index and oil price, currency growth rate and GDP growth rate, the vector auto regression model with Markov switching (MSH(3)-VAR(1)) and seasonal data from 2004 to 2019 have been evaluated.
The results show that the oil price shock in the stable regime causes a smaller change in the value of the fragility index compared to the other two regimes, and with the increase in GDP, it improves the economic conditions and the banking system. On the other hand, in the regime with moderate risk, the oil price fluctuation causes an increase in bank fragility, but due to the effect of the oil price shock on the increase in GDP and the decrease in the exchange rate, it has the ability to become a stable regime. While the occurrence of oil price shock in a high-risk regime causes economic conditions to worsen and its reciprocal effect on the banking system.
s
Ali Rezazadeh; Ali Moridianali; Fatemeh Havasbeigi,
Abstract
One of the most important lessons of the global financial crisis in 2008 was the importance of maintaining financial stability and systematic risk containment. At the same time, most developing economies are seeking to increase the inclusiveness of their financial systems. Financial inclusion is critical ...
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One of the most important lessons of the global financial crisis in 2008 was the importance of maintaining financial stability and systematic risk containment. At the same time, most developing economies are seeking to increase the inclusiveness of their financial systems. Financial inclusion is critical to inclusive growth and provides policy solutions to remove barriers that exclude people from financial markets. In this regard, the main purpose of this study is to investigate the effects of financial inclusion and the size of the shadow economy on the economic growth in MENA countries during the period of 2008-2018. The results of spatial panel model estimation show that financial inclusion has a positive and significant effect on economic growth. This means that financial inclusion is an effective tool in strengthening rapid economic growth. The positive relationship between financial inclusion and economic growth shows that increasing banking penetration, availability of banking centers and geographic penetration can strengthen economic growth in the long run. Also, in the studied economies, the size of the shadow economy has a significant negative effect on economic growth, and this shows that the shadow economy is an obstacle to economic development.
Monetary policy
Seyed Ahmad Reza Alavi; Mahnaz Rabiei; fatemeh zandi; Abdollah Davani
Abstract
Since the infrastructure of growth and development has not been formed in the developing and oil-producing countries, and also the private sector does not have the power to operate in this field due to institutional reasons, weak financial and sometimes technical ability, among the factors affecting ...
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Since the infrastructure of growth and development has not been formed in the developing and oil-producing countries, and also the private sector does not have the power to operate in this field due to institutional reasons, weak financial and sometimes technical ability, among the factors affecting macroeconomic indicators. In these countries, government spending is more important, which affects the general planning process regarding the allocation of consumption and capital budgets to each of the economic activities. The purpose of this research is to investigate the effects of consumption and capital spending impulses the government is under Taylor's two rules of money and the growth of the money supply. To achieve this goal, a general equilibrium model of stochastic dynamics based on the new Keynesian view has been designed using the available information and statistics of Iran's economy during the period of 1991-2020 according to the realities of Iran's economy. Comparing the results obtained from the simulation in two separate models shows that there is not much difference between the interest rate tool and the growth rate of money to influence the variables of the real sector of the economy. On the other hand, in order to influence the non-real variables in the face of the mentioned impulses, the growth rate of the money volume has performed better than the interest rate.
Co2 Emissions
Yousef Mehnatfar; Fariba Osmani; Mehdi Cheshomi; Leila Argha
Abstract
In recent decades, economic growth along with environmental protection is important issue facing most economic societies. On the other hand, with the increase of new technologies and the trade openness, the effect of changing new and extensive structures on the environment has become very important. ...
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In recent decades, economic growth along with environmental protection is important issue facing most economic societies. On the other hand, with the increase of new technologies and the trade openness, the effect of changing new and extensive structures on the environment has become very important. Therefore, the aim of this study is to evaluate the effect of economic complexity and trade openness on the ecological footprint (as an indicator of environmental degradation). For this purpose, the data of 18 developing countries in Asia during the study period from 1990 to 2021 have been used with the Panel-Quantile approach. In addition, the variables of GDP per capita, globalization and financial development were considered as control variables. The results of this study show that the increase in economic complexity in different quantiles reports different results, so that with a one percent increase in economic complexity in the 10th quantile, the ecological footprint has decreased by more than one percent, but an increase in economic complexity in the 50th quantile has caused the deterioration of the quality of the environment. The results show that the increase in trade in all quantiles has helped to improve the environment. Moreover, with increasing globalization and financial development, the ecological footprint has increased in all quantiles. In addition, the results of this study indicate that the increase in per capita income has reported different results in different quantiles. The results of this study provide important policy implications for environmental improvement in developing countries in Asia.
Economic Growth
Sahar Nasrnejad Nesheli; Mani Motameni; Mohamad Abdi Seyed Kolaei
Abstract
Economic complexity is one of the criteria for measuring the knowledge-based economy of a country. Several studies have shown that improving the economic complexity index leads to sustainable economic growth and improved welfare. Therefore, policy makers tend to place the development and progress of ...
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Economic complexity is one of the criteria for measuring the knowledge-based economy of a country. Several studies have shown that improving the economic complexity index leads to sustainable economic growth and improved welfare. Therefore, policy makers tend to place the development and progress of the country in the path of knowledge-based economy and production of complex products. But the channel of influence of complexity on the economy of a country is questionable. Identifying this channel can lead to the focus of development policies. The hypothesis investigated in this research is the effectiveness of economic complexity on the field of factory activities. In the literature review, it was found that the relationship between these two variables is not predetermined. To test the hypothesis, a statistical sample including 46 countries has been selected for a period of 31 years ending in 2020. The PMG model has been used for data processing. The result of the estimation of the model shows that the increase in the added value of factory industries is one of the consequences of the improvement of economic complexity. This finding can help to set development policies.
Co2 Emissions
Mehdi Fathabadi
Abstract
Environmental pollution is a serious threat to the sustainable development of Middle East countries, especially Iran. Therefore, in this article was analyzed the decoupling relationship between CO2 emissions energy-related and economic growth in 6 Middle East countries in period 1990-2019. First, CO2 ...
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Environmental pollution is a serious threat to the sustainable development of Middle East countries, especially Iran. Therefore, in this article was analyzed the decoupling relationship between CO2 emissions energy-related and economic growth in 6 Middle East countries in period 1990-2019. First, CO2 emissions driving mechanisms were quantified using Logarithmic Mean Divisia Index (LMDI) method, and then decomposed into factors of CO2 emission coefficient, energy intensity, economic activity and population. The decoupling state findings using the Tapio model show that population and economic activities factors were main drivers of CO2 emissions in these countries. The results of decoupling elasticity showed that Iran was in a weak decoupling state in period of 1990-1999 and 2015-2019; It means the simultaneous increase of economic growth and carbon emissions, of course, by faster economic growth; Iran had also an expansive coupling state in period of 2000-2014, which indicates that CO2 emissions increase along economic growth. The UAE and Saudi Arabia have reached an ideal situation in recent years. These countries have moved from a negative decoupling and expansive coupling state to a strong decoupling state, where economic growth has been accompanied by a reduction in carbon emissions. The Kuwait and Turkey have been in weak decoupling and negative expansive decoupling states in the last 3 decades, in which economic growth was accompanied by an increase in carbon emissions. At the beginning, the Egypt has changed to a weak decoupling state and then moved to an expansive negative decoupling state.
Human Capital
Ali Younessi
Abstract
Financial decentralization is a multi-dimensional process in which some powers are transferred from the central government to the governors, and the most important thing is, the return of all the revenues of each province to the same province. One of the effects of financial decentralization is economic ...
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Financial decentralization is a multi-dimensional process in which some powers are transferred from the central government to the governors, and the most important thing is, the return of all the revenues of each province to the same province. One of the effects of financial decentralization is economic growth. Economic growth is measured through the difference in GDP. Economic growth in any country shows the economic and productive performance of each province, and the increase in the production of each province leads to the economic growth of the entire country. This study was conducted in order to investigate the relationship between economic growth and financial decentralization in the provinces of Iran, in which three cities and towns were selected as samples from each province. The technique used in this research is panel data. In this method, the data have time series and cross-sectional characteristics, consist of several dimensions and cover several periods. The time period of the research is 2018 to 2021. The equations related to the independent and dependent variables of this research are taken from the research model of Suyanto (2009), Langudi (2006) and Khosini (2006). The results of the research show that the increase in financial decentralization and the return of revenues from each province to the same province and even grants from the central government have a significant positive effect on economic growth. In addition, the research model shows that financial decentralization can improve public spending, reduce the population of low-income people, and ultimately improve the human capital index of provinces.
