Economics Research

Functional Income Distribution in Mainstream Economics and Shahid Sadr’s Opinions

Ahya Eyvazi

Volume 19, Issue 72 , April 2019, , Pages 237-263

https://doi.org/10.22054/joer.2019.10160

Abstract

  In mainstream economics, "distribution" is one of the issues which is ignored because of being unresolved, and a new issue is propounded. First, the "functional distribution of income" was proposed, which is based on the determination of the share of production factors (at the micro level). Then, due ...  Read More In mainstream economics, "distribution" is one of the issues which is ignored because of being unresolved, and a new issue is propounded. First, the "functional distribution of income" was proposed, which is based on the determination of the share of production factors (at the micro level). Then, due to lack of proper response, from the early twentieth century, ideas changed to explain the new concept of "personal distribution of income" which is based on the income allocation among the households and individuals (at the macro level). In fact, the important question around the functional distribution of income which we are seeking to answer is "Who is the owner of the surplus value or the profit (positive and negative) in the production?". Shahid Sadr properly understood the importance of income and wealth distribution in leading the Islamic society towards its goals of justice. In his “Eghtesadona” book, he has extracted the system of "functional distribution of income," and the correct answer to this issue, in addition to the "personal distribution of income" based on the teachings of Islam. In this distributional system, interactions are not homogeneous and the basis for the share of factors of production is contracts and rules, which depends on real conditions of the economy. In this paper, the "distribution" issue in conventional economics is compared with the concepts developed by Shahid Sadr, using the comparative and library methods.

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The Study of Success Key Factors in Strategic Planning of Information Systems in Investment Companies

Payam Hanafizadeh; Seyyed Alireza Ghafoori

Volume 7, Issue 26 , October 2007, , Pages 243-279

Abstract

  An investment company is an entity which its main duty is rendering services on professional investment management to the shareholders' invested capitals. Investment companies are financial brokers who sell stocks to people and invest the profits on a variety of portfolios. Given the enhanced competitiveness ...  Read More An investment company is an entity which its main duty is rendering services on professional investment management to the shareholders' invested capitals. Investment companies are financial brokers who sell stocks to people and invest the profits on a variety of portfolios. Given the enhanced competitiveness among organizations, nowadays utilizing information technology provides an edge over competitors. In this regard, developing strategic planning of information systems to fulfill the objectives of the investment companies is absolutely crucial. Making use of balanced scorecard and critical success factors methodologies as strategic planning of information systems methodologies in this research, strategic processes of investment companies as well as their critical success factors have been identified. Comparing the different nature of the investment companies with other business companies has been another motivation for this research. Presenting a model to determine the critical success factors in strategic planning of information systems for Iran’s investment companies considering cost leadership, product differentiation, and niche market strategies are among the achievements of this research.

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Analysis of Volatility Feedback in Tehran Stock Exchange

Esmaiel Abounoori; Mani Motameni

Volume 7, Issue 27 , January 2008, , Pages 247-261

Abstract

  The volatility feedback has been tested, using the Tehran Stock Exchange (TSE) returns, during 1992-2006. According to the theory, predictable volatility has a positive and significant effect, while the unpredicted volatility will reduce the stock returns. In order to test the hypothesis, the EGARCH-M ...  Read More The volatility feedback has been tested, using the Tehran Stock Exchange (TSE) returns, during 1992-2006. According to the theory, predictable volatility has a positive and significant effect, while the unpredicted volatility will reduce the stock returns. In order to test the hypothesis, the EGARCH-M model is used.  The results indicate that there has not been a significant relationship between predictable volatility and returns, while the unpredicted volatility has had significant negative effect.

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The Effect of Political Institutions on Performance of Oil Funds: Comparison of Iran, Norway and Saudi Arabia

Abolfazl Pasbani; ali cheshomi; meisam pileforoush

Volume 17, Issue 67 , January 2018, , Pages 253-290

https://doi.org/10.22054/joer.2018.8569

Abstract

  This article has surveyed effect of political institutions on performance of oil funds and seeks to make a meaningful contribution to the literature on the use of oil funds in resource-dependent countries, by proposing that what differences in political institutions, cause differences in performance ...  Read More This article has surveyed effect of political institutions on performance of oil funds and seeks to make a meaningful contribution to the literature on the use of oil funds in resource-dependent countries, by proposing that what differences in political institutions, cause differences in performance of oil funds in Iran, Norway and Saudi Arabia. In situations that institutional framework causes maximization of benefits with long-term decisions, the mechanism of oil funds are successful. And in situations that institutional framework causes maximization of benefits with short-term decisions, the mechanism of oil funds are not successful. Institutional framework in full democracies and paternalism authoritarian regimes lead to the long-term decisions, but institutional framework in flawed democracies leads to short-term decisions. It seems that in Iran, motivations implicit in institutional structure push politicians to take short-term decisions instead of long-term decisions, such that politicians are inclined to maximize their own interests and consider short-term period. That has been of the most important factor in failure of Iran's Foreign Currency Reserves Account or National Development Fund.

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Electronic Business Development Strategies in the Context of Facilitating and Improving Business Environment

Seyed Mohammad Ali Khatami Firouzabadi; Masoud Asgarimehr; Farkhondeh Mortaz Hejri

Volume 18, Issue 68 , April 2018, , Pages 253-290

https://doi.org/10.22054/joer.2018.8693

Abstract

  E-business as one of the enablers of the economy and a subset of information technology has grown substantially in the past decade. Today’s global markets is changing and transforming from industrial market to a science and technology one. In other words, today's business environment has reshaped ...  Read More E-business as one of the enablers of the economy and a subset of information technology has grown substantially in the past decade. Today’s global markets is changing and transforming from industrial market to a science and technology one. In other words, today's business environment has reshaped from physical to electronic and has transformed traditional and offline markets. Successful investors have accepted transformation of traditional business to e-business so that policies of commercial enterprises in adoption and deployment of e-business are effective and efficient in order to enter international markets and attract new customers. The importance of e-business environment and high degree of its acceptance by people and businesses, have led to feel the importance of planning and development of e-business strategies and frameworks. This study, presents the results of a project administered by Ministry of Information and Communications Technology of Iran,  named “Electronic business development strategies in the context of facilitating and improving the business environment “.The purpose of this project is to extract and codify the business development strategies in the field of communications and technology, which has been designed and implemented in four phases.The fourth and final phase of this project, presents a new model based on e-readiness frameworks and was confirmed by using Smart PLS software. Finally, the e-business development strategies have extracted and classified based on confirmed model and SWOT analysis.

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Volume 1, Issue 1 , July 2001, , Pages 109-128

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Investigating Stock Market Crashes Using Cusp Model: A Study on Tehran Stock Exchange

Shapoor Mohammadi; Hamed Tabasi

Volume 12, Issue 46 , October 2012, , Pages 157-182

Abstract

  Stock market crashes are important, both for investors and academics. Since Catastrophe Theory is a strong tool for explaining nonlinear phenomena, in this paper we apply Catastrophe theory and fit stochastic Cusp Catastrophe model to Tehran Stock Exchange (TSE) data. With the help of annual growth rate ...  Read More Stock market crashes are important, both for investors and academics. Since Catastrophe Theory is a strong tool for explaining nonlinear phenomena, in this paper we apply Catastrophe theory and fit stochastic Cusp Catastrophe model to Tehran Stock Exchange (TSE) data. With the help of annual growth rate of liquidity and stock trading volume as control variables, we show that the Cusp catastrophe model explains the crashes of the TSE index in 2004 and 2008, much better than non-linear logistic model. Our results are confirmed after removing trend from Tehran Stock Exchange price index.

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Volume 3, Issue 10 , January 2004, , Pages 177-198

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Volume 1, Issue 3 , January 2002, , Pages 179-194

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To Survey the major barriers to Foreign Investment in Iran from Investor's viewpoint

Ali Saeedi; Zahra Miadi

Volume 11, Issue 41 , July 2011, , Pages 181-200

Abstract

  This study has investigated the major barriers of Foreign Investment in Iran from the investor's viewpoints. In this study, we followed all of the foreign investors that recoursed to the investment organization in a period of three months. 150 questionnaires (including Doing Business Index) were ...  Read More This study has investigated the major barriers of Foreign Investment in Iran from the investor's viewpoints. In this study, we followed all of the foreign investors that recoursed to the investment organization in a period of three months. 150 questionnaires (including Doing Business Index) were sent via Email, fax and face to face interview, but only 35 questionnaires were returned. Data analysis has been done by use of inferential statistics and SPSS software. We found that: There is significant relationship between index of starting a business, dealing with licenses, employing workers, registering property, protecting Investors, paying taxes, trading across borders, enforcing contracts, closing a business and Foreign Investment. but there is no meaningful relationship, between index of bank getting credit and Foreign Investment.

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Survey of the Impacts of Aggregate Supply and Demand Shocks in Iran Economy

hossein akbarifard; Mohammad Sajjad Koushesh

Volume 11, Issue 43 , January 2012, , Pages 185-198

Abstract

  We interpret fluctuation in GDP and unemployment  rate as due to two types of disturbances: disturbances that have a permanent effect on output and disturbances that don’t. We interpret the first as supply disturbances, the second as demand disturbances. This paper surveys the effects ...  Read More We interpret fluctuation in GDP and unemployment  rate as due to two types of disturbances: disturbances that have a permanent effect on output and disturbances that don’t. We interpret the first as supply disturbances, the second as demand disturbances. This paper surveys the effects of demand and supply disturbances on variables GDP and unemployment in Iran economy. So with using Blanchard-Quah econometric technique, shocks will be divided into two sections: the supply shocks and demand shocks. Then, we survey the effect of these two shocks on GDP and unemployment in Iran with using Structural Vector Auto Regressive (SVAR) method, impulse response function and variance decomposition. Results report that supply shocks proportion in explaining the GDP and unemployment fluctuation are 45/5 and 30/87 and the demand shock proportion are 54/56 and 69/21. 

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The Effects of Oil Prices on Macroeconomic Variables of Iran

Mohammad Reza Moghaddam; Mohammad Reza Sezavar

Volume 12, Issue 47 , January 2013, , Pages 197-216

Abstract

  This paper studies the effects of oil prices on macroeconomic variables such as economic growth, inflation and unemployment rate by using structural vector autoregressive method. The results show that oil price shocks are the main source of fluctuations of inflation rate, while economic growth is affected ...  Read More This paper studies the effects of oil prices on macroeconomic variables such as economic growth, inflation and unemployment rate by using structural vector autoregressive method. The results show that oil price shocks are the main source of fluctuations of inflation rate, while economic growth is affected by supply shock and unemployment rate is affected by shocks in labor market. Also, it is necessary to improve the credibility of monetary and fiscal policies for economic agents to achieve better results.

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Recognition of the Skills Needed for Exployment Expansion in Information and Communication Technology (ICT) Criteria in Iran

Shahriar Nessabian; Peyman Kazemi

Volume 9, Issue 35 , January 2010, , Pages 197-208

Abstract

  In this paper in order to evaluate the necessity of increasing job skills in ICT and also recognition of new job skills regarding changes of the structure of market labor after digital revolution, scientific change technology/ market labor change and indicators of ICT in Iran and other countries are ...  Read More In this paper in order to evaluate the necessity of increasing job skills in ICT and also recognition of new job skills regarding changes of the structure of market labor after digital revolution, scientific change technology/ market labor change and indicators of ICT in Iran and other countries are analyzed. Results show that besides the possible of more effective investment made priory in ICT sector, it is also possible to provide an appropriate back ground for developing ICT infrastructure in economy, and creating new job for youth and graduates and also creating labor force productivity.

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The Role of Institutions in Shaping Entrepreneurship in Selected Countries

Saeid Eisa Zade; Jahan Bakhsh Mehranfar

Volume 12, Issue 44 , April 2012, , Pages 199-212

Abstract

  This paper investigates the relationship between the institutional setting, in terms of economic freedom, and entrepreneurship, as measured by self-employment in a panel data setting covering selected countries and the time-period 1990-2009. The measure of economic freedom includes five indices; size ...  Read More This paper investigates the relationship between the institutional setting, in terms of economic freedom, and entrepreneurship, as measured by self-employment in a panel data setting covering selected countries and the time-period 1990-2009. The measure of economic freedom includes five indices; size of government, the legal structure and security of property rights, access to sound money, the freedom of trade internationally, and the regulation of credit, labor and business. The empirical findings show that a small public sector, better legal structure and security of property rights tend to increase in entrepreneurship. Also, we find that the freedom of trade internationally and less regulation of credit, labor and business is negatively correlated to self-employment rate.

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Asymmetric Effects of Oil Income Growth on Inflation in Iran: VECM Approach

Akbar Komeyjani; Mohammad Hadi Sobhaniani; Saeid Bayat

Volume 12, Issue 45 , July 2012, , Pages 201-226

Abstract

  Because of much dependence to oil revenues, Oil price fluctuations have much affect on Iranian economy. Since government possess a great deal of oil revenues and those financial government expenditure, then identifying manner and stringency of affecting shocks arise from oil revenue growth on inflation ...  Read More Because of much dependence to oil revenues, Oil price fluctuations have much affect on Iranian economy. Since government possess a great deal of oil revenues and those financial government expenditure, then identifying manner and stringency of affecting shocks arise from oil revenue growth on inflation is very important. Subject of this paper is “Asymmetric effects of oil revenue growth on inflation in Iranian economy applying VECM method”. Our results indicate that both positive and negative shocks arise from oil revenue growth are inflationary.

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The Measurement of Poverty Indices Based on Iranian Household Nutrition

Farhad Khodadad Kashi; Khalil Heydari

Volume 9, Issue 34 , October 2009, , Pages 205-231

Abstract

  Poverty is a worldwide phenomenon which both developed and developing countries are entangled with. Poverty alleviation is now considered as a goal by governments and international institutions. The emphasis is very much on poverty reduction by Iran’s Constitution and other binding Acts such as ...  Read More Poverty is a worldwide phenomenon which both developed and developing countries are entangled with. Poverty alleviation is now considered as a goal by governments and international institutions. The emphasis is very much on poverty reduction by Iran’s Constitution and other binding Acts such as socio-economic plans and The Perspective Document. In this paper, an attempt has been made to measure different poverty indices with emphasis on nutrition approach. Head count ratio, poverty gap and Sen index are among the poverty indices measured in this study. Our findings indicate a reduction in absolute poverty along with an increase in relative poverty during the period of the study. It has also been shown that the extent of poverty depends on the concept of poverty accepted by authorities. Considering the facts relating to Iran’s economy as well as resource limitation, the best concept of poverty for policy formulation is the absolute one.

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Studying The Impact of Increase in Export Price of Agricultural Products on Macroeconomic Variables of Iran

Hamid Mohammadi; Bahaadin Najafi; Vahid Dehbashi

Volume 11, Issue 40 , April 2011, , Pages 213-239

Abstract

      This study aims at investigating the impacts of increased export price of agricultural products on macroeconomic variables of Iranian Economy. To get the objective, Computable General Equilibrium (CGE) and Social Accounting Matrix (SAM) of 1380 was used. The results showed that with ...  Read More     This study aims at investigating the impacts of increased export price of agricultural products on macroeconomic variables of Iranian Economy. To get the objective, Computable General Equilibrium (CGE) and Social Accounting Matrix (SAM) of 1380 was used. The results showed that with increase in export price of agricultural commodities, irrespective of exchange rate, GDP, private investment rate and tax revenues will increase, however, production and consumption of commodities will decrease under flexible exchange rate and will increase in nonflexible exchange rate regime. It was also revealed that investment use of commodities tend to decrease under flexible exchange rate and it is expected to increase as nonflexible exchange rate policy is imposed. Agricultural and nonagricultural prices will also decrease (increase) in flexible (nonflexible) exchange rate conditions.

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Uncertainty Evaluation of Effects of Trade Openness on Economic Growth: A Bayesian Averaging of Classical Estimates (BACE) Approach

Asadollah Jalalabadi; Javid Bahrami

Volume 11, Issue 42 , October 2011, , Pages 213-247

Abstract

  Due to uncertainty in economic growth theories, existence of various proxies for effective factors on economic growth, and lack of indication of the most appropriate econometric model for investigating effective variables on economic growth, the empirical growth regressions have always faced uncertainty. ...  Read More Due to uncertainty in economic growth theories, existence of various proxies for effective factors on economic growth, and lack of indication of the most appropriate econometric model for investigating effective variables on economic growth, the empirical growth regressions have always faced uncertainty. To investigate this phenomenon, we should move from the classical econometrics towards the approaches which can appropriately deal with uncertainty. One of these approaches is the !Bayesian Averaging of Classical Estimates Approach" which has been used in this article to evaluate the uncertainty of the effects of trade openness on economic growth in developing countries (52 countries) during 1970 and 2006. The research findings indicate that the !Composite Trade Intensity" which is considered as a suitable alternative for trade openness, has a positive and definite effect on economic growth of these countries in the long run. Furthermore, it is revealed that other criteria such as !Unweighted Averages of Tariff Rates", !Terms of Trade Growth" and !Sachs & Warner openness indicator" (1995) # as  proxies for trade openness # do not have definite and determining effects on economic growth of these countries in the long run.

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Analyzing the Role of Globalization in Attracting Foreign Investment and Affecting the Economic Growth

Taghi Torabi; Nazi Mohammadzadeh Asl

Volume 10, Issue 37 , July 2010, , Pages 217-240

Abstract

  So far as the economic indices are concerned the results of becoming global in some countries show a situation in which the dread of globalization on one hand and the opportunities it may bring about on the other have left the developing countries in a state of ambiguity. In this paper, we explain the ...  Read More So far as the economic indices are concerned the results of becoming global in some countries show a situation in which the dread of globalization on one hand and the opportunities it may bring about on the other have left the developing countries in a state of ambiguity. In this paper, we explain the effect of globalization on economic growth. For this purpose we choose some developing countries in two groups: more global and less global. We use a panel data model (1980 -2006) with variables that influence the growth. The results demonstrate the role of variables which are determinant in globalization process such as: Economic Security, economy openness and FDI.

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Volume 3, Issue 8 , April 2003, , Pages 217-229

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Investigation of Optimal Tax Rate Determination in Iran By Using Demand Elasticities Analysis Approach

Reza Najarzadeh; Mohammad Rezaeipour; Majid Aghaei

Volume 8, Issue 31 , January 2009, , Pages 219-239

Abstract

  In this study we have investigated income and price elastisities of consumption and selling of household of cities in Iran in period 1353 until 1385, by using Almost Ideal Demand System and Habit Formation Linear Expenditure system. The result of study by analysis of  toll aggregation current trend ...  Read More In this study we have investigated income and price elastisities of consumption and selling of household of cities in Iran in period 1353 until 1385, by using Almost Ideal Demand System and Habit Formation Linear Expenditure system. The result of study by analysis of  toll aggregation current trend shows that consumption and selling tax rates in Iran, determine without allocation and distributive effects of indirect taxes and also income and price elasticity.

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Presenting a Model for Promoting and Developing of Privatization in Iran

Nader Gholi Ghourchian; Gholamreza Heydari Kord Zanganeh

Volume 8, Issue 30 , October 2008, , Pages 219-257

Abstract

  The main aim of this study is to present a suitable model for promoting and developing privatization system scientifically in Iran. In line of this purpose, the main concentration was put on reviewing Iranian and global literature, examining scientific and executive experiences of the researchers, studying ...  Read More The main aim of this study is to present a suitable model for promoting and developing privatization system scientifically in Iran. In line of this purpose, the main concentration was put on reviewing Iranian and global literature, examining scientific and executive experiences of the researchers, studying and taking into view main privatization parameters and expertise of the experts as well. Then, questionnaires consisting privatization parameters were distributed to test validity and reliability of Cronbakh Alpha coefficient and duly confirmed. To analyze the data collected, two sets of statistical descriptive methods such as frequency, percent and multi variable analysis were also used.

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The Evaluation of the Impact of the Globalization on Poverty (Case Study: Developing Countries)

Ali Hassanzadeh; Masoud Foz Moslemian

Volume 10, Issue 36 , April 2010, , Pages 223-254

Abstract

  In the new international trade processes and the recent labor force flow, the globalization and merging economy are inevitable. Globalization has various aspects which affect the countries in several different ways.  There are some acceptable ideas which prove that the globalization can lead to ...  Read More In the new international trade processes and the recent labor force flow, the globalization and merging economy are inevitable. Globalization has various aspects which affect the countries in several different ways.  There are some acceptable ideas which prove that the globalization can lead to the economic stabilities in the developing countries and finally it would be favorable toeconomic welfare. On the other hand, one of the key points made by critics of recent economic globalization is that income inequality is increasing as a result of these processes. In this article firstly we explain these two different points of view about the globalization and secondly we use the imperial pattern and also the econometrics models (panel data) to analyze the impact of the globalization on the poverty, in 15 selected developing countries. The results suggest that, in the short run, because of the economic reforms and stabilization programs, unemployment and poverty increase. Furthermore in globalization, due to the negligence of the vulnerable classes of people in society and absence of an efficient planning system there will be a political costs which can accelerate the negative effects of this process.

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Identification of Effective Factors on Real Exchange Rate Misalignment and Its Impact on Economic Growth in Iran

Manoochehr Asgari; Hamid Tofighi

Volume 9, Issue 33 , July 2009, , Pages 223-246

Abstract

  The purpose of this survey is to determine of equilibrium real exchange rate, misalignment and impact of misalignment of real exchange rate on economic growth. According to introducing of new exchange rate literature on 80 decade and econometrics models in recent decades, the model that introduce here ...  Read More The purpose of this survey is to determine of equilibrium real exchange rate, misalignment and impact of misalignment of real exchange rate on economic growth. According to introducing of new exchange rate literature on 80 decade and econometrics models in recent decades, the model that introduce here is the fundamental Edwards model that adjusted for IRAN. The variables of this survey for determining of real exchange rate are: government expenditure, the ratio of capital investment to GNP, capital account, the ratio of oil and gas revenue to GNP, the excess of money supply to money demand, the difference between parallel and official market exchange rate. The period of this survey is from 1959-2004 Iranian calendars. In this regard we use Johanson test in order to estimate long-run equilibrium real exchange rate and use vector error correction model in order to achieve short time relations and loading factors. After calculating real exchange rate from long-run estimated equation, misalignment could be calculated from the difference between real exchange rate and estimated equilibrium real exchange rate. As in most years in Iran exchange rates overvalued, when we calculate misalignment and use it for estimating economic growth model, the sign of misalignment was negative and therefore had negative impact on economic growth.

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Volume 2, Issue 4 , April 2002, , Pages 223-336

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