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Volume 2, Issue 5 , July 2002, , Pages 13-34
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Volume 2, Issue 6 , October 2002, , Pages 13-48
Akbar Komeijani; Saleh Ghavidel
Volume 6, Issue 20 , April 2006, , Pages 13-41
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Volume 5, Issue 18 , October 2005, , Pages 13-47
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Volume 4, Issue 13 , July 2004, , Pages 13-53
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Volume 4, Issue 12 , April 2004, , Pages 13-36
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Volume 3, Issue 8 , April 2003, , Pages 13-69
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Volume 3, Issue 9 , July 2003, , Pages 13-70
Davod Danesh Jafari; Mohammad Mahdi Barghi Osguei
Volume 10, Issue 38 , October 2010, , Pages 15-38
Akbar Komeyjani; Hossein Tavakolian
Volume 10, Issue 37 , July 2010, , Pages 15-43
Abstract
According to the recent debates on portfolio allocation of the foreign reserves of central banks and moving from Dollar to Euro, this study is going to empirically investigate the portfolio composition of the central banks of Iran, Russia, Saudi Arabia and Turkey. Since the compositions of the foreign ...
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According to the recent debates on portfolio allocation of the foreign reserves of central banks and moving from Dollar to Euro, this study is going to empirically investigate the portfolio composition of the central banks of Iran, Russia, Saudi Arabia and Turkey. Since the compositions of the foreign reserves of central banks are not announced precisely, the estimation of the share of Euro in foreign reserves is done according to the time series characteristics of foreign reserves. In this study the share of Euro and Dollar in Foreign reserves of the central banks will be estimated using Kalman Filter. In the euro period, 1999-2008, the share of Euro in foreign reserves of Iran, Russia, Saudi Arabia and Turkey has increased considerably. The evidence shows that all of these countries have diversified their foreign reserves portfolio such that the relative importance
of Euro has increased while the relative importance of Dollar has diminished. The share of Euro in the foreign reserves of Iran, Russia and Turkey from 2003 and in Saudi Arabia from 2007 has increased and Euro has become a serious challenger to US dollar. Although the results of the paper show that the share of Euro in the foreign reserves of these countries has increased and Euro has become a serious rival for US dollar, but the answer to the question of whether the Euro will replace the Dollar, is still an important issue and requires further study and empirical evidences.
Mehdi Taghavi; Mehdi Rezaee
Volume 10, Issue 36 , April 2010, , Pages 15-40
Abstract
In this paper, the model of foreign direct investment attraction into Iran’s Free Trade- Industrial Zones has been estimated on the basis of related theories and studies. The results of this study illustrate that inflation rate and domestic investment respectively have negative and positive effects ...
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In this paper, the model of foreign direct investment attraction into Iran’s Free Trade- Industrial Zones has been estimated on the basis of related theories and studies. The results of this study illustrate that inflation rate and domestic investment respectively have negative and positive effects on the attraction of foreign direct investment into those zones. For the success in absorbing foreign investment, the results of this paper also show that some policies other than mere liberalization policy of foreign capital inflow are necessary. If Iran successfully create a suitable economic atmosphere in order to motivate free domestic investors, both in the national economy and in the zones then Iran may manage to attract foreign investors. This study indicates that high inflation rate and low
attraction of domestic investments are implications of country risk, which lead to less attraction of foreign investments to the zones on the other hand, small amount of domestic capital in free zones in turn decreases the attraction of foreign direct investment into zones, as a consequent effect on foreign investment.
Morteza Sameti; Fereshteh Eshraghi; Yasser Abbaslou
Volume 9, Issue 35 , January 2010, , Pages 15-35
Abstract
Many of economists believe that financial and monetary development and economic stability are necessary conditions in order to access to high rate of economic growth. Regarding the high importance of economic growth for developing countries, we investigate financial and monetary development, economic ...
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Many of economists believe that financial and monetary development and economic stability are necessary conditions in order to access to high rate of economic growth. Regarding the high importance of economic growth for developing countries, we investigate financial and monetary development, economic stability and their impact on economic growth.
The objective of this paper is to estimate an econometric model for analyzing the impact of financial and monetary development and public expenditure on Iran’s national income. Selection of the variables is consistent with economic growth and the views of monetarist and Keynesian on the relative impact of monetary and fiscal policies.
After determining the time series characteristics of the data set a vector error correction model (VECM) is estimated.
The empirical results indicate no support for "supply leading" view of financial development and Mackinnon-Shaw repressionist proposition in Iran. Also there is not any noticeable support for the monetary and fiscal policies effectiveness.
Farhad Dejpasand; Hossein Goudarzi
Volume 9, Issue 34 , October 2009, , Pages 15-41
Abstract
Applied study about developing countries indicates real devaluation of the currency has different effect on balance of payments. Devaluation of the currency can improve balance of payment if the exchange market was in the relative stability and monetary and fiscal policy was also specified and not expansionary. ...
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Applied study about developing countries indicates real devaluation of the currency has different effect on balance of payments. Devaluation of the currency can improve balance of payment if the exchange market was in the relative stability and monetary and fiscal policy was also specified and not expansionary. Exchange market stationary examines by Marshal Lerner condition. Marshal Lerner condition states that if absolute sum of demand and supply elasticity of exchange rate is greater than one exchange market is stable and increasing exchange rate or devaluation of the currency can improve the balance of payments. This study examines Marshal Lerner condition in Iran by Time series and panel data model. The result of this empirical examine suggests that the Marshal Lerner condition
does not satisfy by time series estimation of the model in long and short run. The result of panel data estimation of the model also suggests that Marshal Lerner condition does not hold in Iran.
Jamshid Pajooyan; Marjan Faghih Nasiri
Volume 9, Issue 33 , July 2009, , Pages 15-45
Abstract
The Concept of Competitiveness is considerable from The micro and macro points of views. The present study in regard to the meanings of competitiveness is concentrating on a few distinctions First on The meaning's of competitiveness in the evolutionary ideology of comparative advantage and also dynamic ...
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The Concept of Competitiveness is considerable from The micro and macro points of views. The present study in regard to the meanings of competitiveness is concentrating on a few distinctions First on The meaning's of competitiveness in the evolutionary ideology of comparative advantage and also dynamic comparative advantage in today's world has been considered by trade economists. In most studies, Competitive Compound index has been Categorized based on its determining Factors.
But in this particular study, in addition to determining factors, the effects of the above mentioned indexes on factors of product function have been also considered. Because the original approach of this study is based on the fact that factors of comparativeness and ultimately to economic growth by the variables of the product function.
Therefore in this study, first there has been a brief review over Comparative advantage theory, dynamic Comparative advantage, and comparative advantage, then several different definitions of comparatives Competitiveness will be presented, and then by reviewing experimental studies in regard to competitiveness.
The indexes of labor competitiveness, Capital, and technology will be introduced and then by the method of numerical taxonomy for 57 countries during 1995 to 2003, the above mentioned indexes will be calculated.
It is notable that Iran has never been considered in any of the competitiveness studies in the world and these calculations has never been done for Iran.
In this study Iran's rank in reported indexes has been calculated and Iran's competitiveness place among the countries of the world has been determined. For evaluation of calculated index, one aggregated index from the 3 mentioned indexes has been calculated, and compared with the indexes of other studies.
Mahdi Taghavi; Hossein Mohammadi
Volume 9, Issue 32 , April 2009, , Pages 15-42
Abstract
The role of capital and investment in the process of economic growth and development has mentioned in many economic theories. Shortage of investment in any country is an incentive for efficient use of investment to increase the economic growth.
In this paper, we compare the productivity of investment ...
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The role of capital and investment in the process of economic growth and development has mentioned in many economic theories. Shortage of investment in any country is an incentive for efficient use of investment to increase the economic growth.
In this paper, we compare the productivity of investment in four economic sectors namely, agriculture, petroleum, industry and services in Iran. For this purpose, we use incremental capital output ratio at first and compute it for these sectors. Then we use an endogenous growth model to assess the impact of investment in these four sectors on economic growth.
Our results show that productivity of investment in petroleum and agriculture is higher that industry and service.
Sadegh Bakhtiari; Behnam Salem
Volume 8, Issue 31 , January 2009, , Pages 15-27
Abstract
This article aims to investigate the impacts of trade liberalization on export and import of industrial commodities through estimating of substitution elasticity of industrial commodities, in terms of two digits codes, in global markets; and also estimating of trade liberalization impact on export and ...
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This article aims to investigate the impacts of trade liberalization on export and import of industrial commodities through estimating of substitution elasticity of industrial commodities, in terms of two digits codes, in global markets; and also estimating of trade liberalization impact on export and import of industrial commodities using dummy variable.
Our estimations show that average tariff dose not effect export; the relationship between per capita capital and export is negative; elasticity of export to liberalization is 1.36 and elasticity of export to real exchnge rete is less than unit. Substitution elasticities all, except code of 37, are less than unit. Codes of 32, 37, 31, 36 and 35 have the highest export, and code of 33 has the least export.
On the side of import, the estimations are as follow: trade liberalization has negative impact on import and results of substitution elasticites are mixed. In codes of 34, 31, 32 and 35 the estimated elasticities are not significant. In codes of 38, 36, 33 and 39 the substitution elasticity is negative and in code of 37 is positive.
In general, the impact of trade liberalization on export is more than import sector. The results show that this policy has positive impact on productivity and at the same time there is a negative relationship between capital accumulation and export; and a positive relationship between capital accumulation and import. This means Iran according to Hecher- Ohlin theory has advantage in labor intensive commodities.
Mahdi Taghavi; Azadmehr Kahram; Parvaneh Salatin
Volume 7, Issue 27 , January 2008, , Pages 15-50
Abstract
The terms of trade is one of the important tools for the macro-economic analysis and the most principle issue in this analysis is a dual relationship between the terms of trade and the exchange rate. The changes in the relative prices are the consequent of the fluctuations in the terms of ...
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The terms of trade is one of the important tools for the macro-economic analysis and the most principle issue in this analysis is a dual relationship between the terms of trade and the exchange rate. The changes in the relative prices are the consequent of the fluctuations in the terms of trade and exchange rate.
This paper focuses on the short-run and long-run effects of the terms of trade on the exchange rate in Iran's economy during 1959-2004,by using the:ARDL(Auto-Regressive Distributed Lag Model),VECM(Vector Error Correction Model)and the impulse response function of VAR(Vector Auto-Regressive).
The results show that although there is a relationship between the terms of trade and exchange rate but the impact of the terms of trade shocks on the exchange rate fluctuation is petty and the main changes of exchange rate in Iran is the consequent of itself.GDP has a positive effec
on the terms of trade improvement and congruently the terms of trade improvement reduces inflation. The other result signifies that the terms of trade has a negative effect on the economic growth. This is the consequent of adoption of wrong economic –commercial policy.
Parviz Davodi; Ali Asghar Salem
Volume 6, Issue 23 , January 2007, , Pages 15-48
Abstract
In order to investigate the contribution of gasoline price change on Iran's economy, in this study, by using panel data and estimating an Almost Ideal Demand System (AIDS) model for the period of 1996 -2003, we've tried to calculate changes on household's welfare in different income levels, which are ...
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In order to investigate the contribution of gasoline price change on Iran's economy, in this study, by using panel data and estimating an Almost Ideal Demand System (AIDS) model for the period of 1996 -2003, we've tried to calculate changes on household's welfare in different income levels, which are arisen from a 30 percent increase in gasoline price. Equivalent Variation (EV) and Compensative Variation (CV) are two applied criteria for this purpose. In addition to direct effects, it has been tried to calculate the indirect contribution of this change on household's welfare. The results indicate that the relative loss of welfare is more for the lower income levels than for the higher.
Rahim Dallai Esfahani; Mohsen Renani; Morteza Sameti; Reza Esmaielzadeh
Volume 8, Issue 30 , October 2008, , Pages 15-40
Abstract
In this study, following Barro in an endogenous growth model, we try to determine the characteristic of an optimal economic growth. By considering two kinds of public expenditures that are: public capital and public services. The role and impacts of the regarded parameters such as time preference, depreciation ...
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In this study, following Barro in an endogenous growth model, we try to determine the characteristic of an optimal economic growth. By considering two kinds of public expenditures that are: public capital and public services. The role and impacts of the regarded parameters such as time preference, depreciation rate and change in planning periods on the growth of economy is also investigated. Dynamic optimization is utilized in determination of optimal growth for Iran’s economy. For different planning periods and with various scenarios, the optimal tax and growth rates for variables such as gross national product, public capital, public services, private capital and consumption is simulated. The paper concludes a negative relation between time preference, depreciation and economic growth. It also finds a positive relation between horizons of planning periods and economic growth.
Fereydoon Tafazzoli
Volume 8, Issue 29 , July 2008, , Pages 15-48
Abstract
In 1848 the well- known philosopher of Classical School, John Stuart Mill published his Principles of Political Economy, in which he raised a question about the Ricardian model and its natural laws of distribution. In the same year, there appeared a much different, most outspoken pamphlet which mounted ...
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In 1848 the well- known philosopher of Classical School, John Stuart Mill published his Principles of Political Economy, in which he raised a question about the Ricardian model and its natural laws of distribution. In the same year, there appeared a much different, most outspoken pamphlet which mounted a major attack the capitalistic system. The pamphlet was the Communist Manifesto written by Karl Marx and Friedrich Engles. In this pamphlet, they both called for socialist revolution- for the industrial workers to unite and to violently overthrow the governments in Europe, and take over the factories from the capitalists.
Marx and Engels examined the conditions of the capitalistic countries in Europe in the mid- 1800s. At that time, these countries were suffering from poverty and deprivation, hunger and unemployment and so many
other problems and their economic and social conditions were not pleasant at all.
At that sensitive time in history, Marxian socialist revolution against the governments of several European countries seemed very likely. But it did not occur and somehow things held together and, with the introduction of new production techniques which made production increase considerably, ultimately began getting better for most people in these countries, especially England. Meanwhile, in this period economic science followed its path of development.
Marx and Engels as the main critics of capitalism and also French dissenters and others such as Henry George and Thorstein Veblen, by developing new ideas, established new schools of thought in economics. On the other hand, many great economic thinkers, including Leon Walras and Alfred Marshall, the two outstanding Neo- Classical scholars revived economic knowledge again and in this way economic science continued its path of development.
Moloud Ahmad; Ahmad Tashkini; Amir Reza Soori
Volume 8, Issue 28 , April 2008, , Pages 15-39
Abstract
This survey tries to estimate the consumption function in iran’s economy with the purpose of deriving the long-run and short-run marginal propensities to consumption. In this study, the annual frequency of data in the range of 1991- 2003 is used, and the ARDL method is employed to run the model.
The ...
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This survey tries to estimate the consumption function in iran’s economy with the purpose of deriving the long-run and short-run marginal propensities to consumption. In this study, the annual frequency of data in the range of 1991- 2003 is used, and the ARDL method is employed to run the model.
The results indicate that long-run and short-run marginal propensities to consumption from disposable income, are 0.49 and 0.39. It means that one percent increase in disposable income leads to 0.49 and 0.39 percent increase in consumption(in the long-run and short-run, respectively). Also liquidity has a positive significant effect on private sector consumption.
Ahmad Tavakkoli
Volume 7, Issue 26 , October 2007, , Pages 15-42
Abstract
Development investment of the government is the essential first step to the productive operation of the private sector, on the condition that it is followed by efficiency and has a harmony with macroeconomics volume and structure. Disregarding law in preparation and operation of development projects ...
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Development investment of the government is the essential first step to the productive operation of the private sector, on the condition that it is followed by efficiency and has a harmony with macroeconomics volume and structure. Disregarding law in preparation and operation of development projects has burdened national economy with a huge volume of incomplete projects in a long term and made the construction period too long. It’s an inflationary phenomenon which is led to the low degree of economic growth, while the social dissatisfaction and reduction of political legitimacy and sovereignty are the two other outcomes. A midterm solution is an attempt to improve the political and administrative process of decision-making, re-description of the role of the government, clean up and improving the technical and operational system. Starting new projects should be avoided for a short-term unless for emergency cases and restart of incomplete projects should be prioritized on the base of efficiency and justice parameters in order to prevent all the operations going beyond available sources all the time.
Parviz Davodi
Volume 7, Issue 25 , July 2007, , Pages 15-45
Abstract
In spite of the previous literature of demand for money in Iran, which is based on macroeconomic framework, this paper takes a microeconomic approach and investigates the incomes and price – using cost - elasticities of the demand for monetary assets based on a nonlinear demand system. The data ...
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In spite of the previous literature of demand for money in Iran, which is based on macroeconomic framework, this paper takes a microeconomic approach and investigates the incomes and price – using cost - elasticities of the demand for monetary assets based on a nonlinear demand system. The data covers from 1989 to 2005. The model is specified as a dynamic system to take account of institutional constraints and the dynamic nature of the assets markets. The conclusion is that user cost elasticities of the monetary assets with longer maturities is significantly greater than those of shorter periods. The interesting finding, however, coming from a sensitivity analysis implies that the interest elasticities of the demand for monetary assets are almost zero. In addition, it seems that fluctuations in the elasticities may be directly come from real sector’s fluctuations, as happened in 1995 and 1997. Due to the fact that the estimated elasticities depends poorly on the interest rates, it seems that some appropriate non-interest rate based policies such as controlling inflation organizing and structuring financial markets may significantly alter the using cost, which in turn may result change the demand for monetary assets as well.
Abbas Shakeri; Teymoor Mohammadi; Yooshea Moosalou
Volume 7, Issue 24 , April 2007, , Pages 15-46
Abstract
In this paper, we designed the optimal trajectory of state and control variables of the Iran's economy. The scope of our research has been the second, the third and the forth economic Five-Year Development Plans. First, we have determined the optimal values of the variables using our previously designed ...
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In this paper, we designed the optimal trajectory of state and control variables of the Iran's economy. The scope of our research has been the second, the third and the forth economic Five-Year Development Plans. First, we have determined the optimal values of the variables using our previously designed macroeconomic model in the context of Optimal Control Theory. The primary results indicate the fact that some of planned targets of the values of economic variables are in contradiction to each other, so they are not accessible. Then, we introduced different scenarios to analyze the sensitivity of the targets to the values of policy variables. One of the most important scenarios for supplying money in the Iran's economy is choosing a constant growth rate by a prudent policy decision.
Mehdi Taghavi; Hossein Mohammadi
Volume 6, Issue 22 , October 2006, , Pages 15-43
Abstract
In advanced industrial countries, Human Capital has had a major contribution on their growth. In fact human capitl is complementary part of and physical capital and complements, and human capital makes using of physical capital more clear. Analysis of economic growth in advanced industrial countries ...
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In advanced industrial countries, Human Capital has had a major contribution on their growth. In fact human capitl is complementary part of and physical capital and complements, and human capital makes using of physical capital more clear. Analysis of economic growth in advanced industrial countries shows that economic growth can not only be explained with physical capital be labour and human capital as a main variable should be entered in emplenation of production function and og growth. In this paper using data from 1959-2002 we have evaluated the effect of human capital indices on growth of Iranian economy. Findings show that growth in the level of adult's education and average growth of the years of educating of labour force has a significant and positive effect on growth domestic product.
