javad taherpoor; fatemeh rajabi
Volume 15, Issue 59 , January 2016, , Pages 35-56
Abstract
During last two decades, studies in the area of political economy focused more on how the political structure of a country can influence economic outcomes. It is reasoned that the higher the degree of political competition, the more the likelihood of implementing mature policies and parliament can do ...
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During last two decades, studies in the area of political economy focused more on how the political structure of a country can influence economic outcomes. It is reasoned that the higher the degree of political competition, the more the likelihood of implementing mature policies and parliament can do better its role to control and monitor the government and this has a positive impact on economic growth. On the other hand, when the degree of political competition decreases, the parliament either aligns with the government or confronts it, which in both cases the probability of implementing efficient and pro-growth policies will decrease.
In this study, we examine the effect of political competition on economic growth. Accordingly, the alignment between the parliamentary and presidential political party was considered as a measure of the presence of the political parties and political competition and it is entered in an economic growth model alongside other variables. Estimation of the model during years 1988-2014 showed that alignment of legislative and executive branches has a negative relationship with economic growth or more clearly, the decline in political competition has had a negative effect on economic growth.
Mostafa Mobini Dehkordi; Teymour Mohammadi
Volume 14, Issue 55 , January 2015, , Pages 41-70
Abstract
In recent years, researchers have been increasingly noticed economic growth and its determinants. Exchange rate and its volatility are important factors in determining a country's economic growth. Various studies in this regard have shown contradictory results concerning the effects of exchange ...
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In recent years, researchers have been increasingly noticed economic growth and its determinants. Exchange rate and its volatility are important factors in determining a country's economic growth. Various studies in this regard have shown contradictory results concerning the effects of exchange rate volitality on economic growth. The purpose of this study, Considering the importance of this issue, is to evaluate the nonlinear effects of real exchange rate uncertainty on economic growth (oil and non-oil) from 1369/1 to 90/4. In this study, economic growth is a function of real exchange rate uncertainty, investment rate, active population growth and growth rate of human capital. To estimate the amounts of real exchange rate uncertainty, GARCH In Mean model is used. With the implementation of a program in eviews, a certain level of exchange rate volatility was calculated using criteria of standard deviation minimum. Then, GMM model is used to determine the effects of this volatility on economic growth. The results show that the real exchange rate uncertainty up to a certain level, which is investigated in this research, has a negative effect on economic growth, whether oil or non-oil.
Hasan Heidari; Roghayeh Alinazhad; Seied Jamallodin Mohseni Zonozi; Javad Jahangirzadeh
Volume 14, Issue 55 , January 2015, , Pages 157-183
Abstract
This study investigates the potential threshold effects in the relationship between corruption control index and GDP growth for the D-8 countries with the presence of other variables, including education expenditures, government consumption expenditures, agricultural raw materials exports, inflation ...
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This study investigates the potential threshold effects in the relationship between corruption control index and GDP growth for the D-8 countries with the presence of other variables, including education expenditures, government consumption expenditures, agricultural raw materials exports, inflation rate, and index of openness over the period 1996-2011. For this purpose, the paper uses a Panel Smooth Transition Regression (PSTR) model that is an appropriate method for explaining cross-country heterogeneity. Our result rejects the linearity hypothesis, and gives a threshold at corruption control of -0.862. Based on this threshold, we can build a two-regime model. In the first regime, corruption control, education expenditures, agricultural raw materials exports and index of openness variables have a significantly positive impact on GDP growth and government consumption expenditures and inflation rate variables have a significantly negative impact on GDP growth. In the second regime, however, corruption control, education expenditures, agricultural raw materials exports and index of openness variables have a positive impact and government consumption expenditures and inflation rate variables have a negative impact on GDP growth. Though, the impact of corruption control, education expenditures, agricultural raw materials exports and index of openness are increased and the impact of government consumption expenditures and inflation rate are dramatically declined.
Mohammad Ghasem Rezaee; Mahboubeh Sabzrou; Mohammad Rezaee-Pour
Volume 13, Issue 51 , January 2014, , Pages 163-187
Abstract
In this paper, we focus on two major questions about tax incentives: 1) Do the countries compete over tax incentives in a same way as they compete over tax rates? ; 2) Do the offered tax incentives results in attracting investment and increasing economic growth? The results of testing the first question, ...
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In this paper, we focus on two major questions about tax incentives: 1) Do the countries compete over tax incentives in a same way as they compete over tax rates? ; 2) Do the offered tax incentives results in attracting investment and increasing economic growth? The results of testing the first question, in which spatial econometric technique for panel data and Maximum Likelihood Estimation (MLE) Method were used, indicate that the developing countries compete over tax rates and tax holidays (and don’t compete over investment rebates); In other words, governments consider other states’ tax policies as a benchmark for judging their own tax policies. The results of testing the second question, in which econometric techniques of dynamic data and Generalized Moments Method (GMM) were used, indicate that tax rates and tax holidays influence foreign direct investment while investment rebates don’t have such an effect and only tax rates have significant relationship with private sector investment and economic growth. Tax incentives which were tested here include tax rates reduction, tax holiday and investment rebates and empirical evidence is based on time period 1985- 2008 and the data for 45 developing countries.
Abbas Shakeri; Teymour Mohammadi; Hamid Nazeman; Javad Taherpoor
Volume 13, Issue 50 , October 2013, , Pages 63-86
Abstract
The issue of the impact of oil revenues on the economic performance of the countries that own these incomes is a significant part of the economic literature. One of the main reasons for the poor performance of resource-rich countries is the incidence of “Dutch Disease” in these countries. ...
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The issue of the impact of oil revenues on the economic performance of the countries that own these incomes is a significant part of the economic literature. One of the main reasons for the poor performance of resource-rich countries is the incidence of “Dutch Disease” in these countries. Considering this issue, after we review the literature on Dutch Disease, we first focus on the occurrence of Dutch Disease in Iranian economy and in the next stage, we study the effects of this problem on economic growth. To see if the problem of Dutch Disease has happened in Iranian economy or not, we have studied the production share of different tradable sectors (industry and agriculture) and non-tradable sectors (services and housing) and to study the effects of Dutch Disease on economic growth, we have used the growth models related to this research area and we have estimated these models by applying Ordinary Least Squares (OLS) method with Withe correction. The results of our study show that the Dutch Disease has happened in Iranian economy along with the increase in oil incomes, especially in 1970s and 2000s, and also the occurrence of Dutch Disease has had a negative effect on economic growth in Iranian economy.
Amir Khadem Alizadeh
Volume 13, Issue 50 , October 2013, , Pages 87-121
Abstract
In some of the new economic growth models, we pay attention to the effects of financial development on economic growth. This research investigates the relationship between capital market and economic growth in macro level during 1991-2011. The research is organized as follows: the introduction comes ...
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In some of the new economic growth models, we pay attention to the effects of financial development on economic growth. This research investigates the relationship between capital market and economic growth in macro level during 1991-2011. The research is organized as follows: the introduction comes as the first section. In section II, we review the literature on the relationship between economic growth and capital market. The theoretical foundations of capital market and economic growth in macro level come in third section. Research methodology and introduction of main variables of the growth model, capital market indicators, statistical methods and econometric issues for our estimations come in the next part. In the fifth section, we introduce the model and explain the variables of proposed growth model. In the next section we test the hypothesis of our research. So we investigate the relation between capital market and economic growth in a macro model using principal component analysis (PCA) and generalized method of moments (GMM) analysis in several scenarios. The results of our research indicate that in a macro analytical approach we didn’t find a positive and significant relation between the financial development indicators and economic growth. The Policy recommendations of this research are developing the capital market through defining and presenting new financial instruments to absorb liquidity for efficient firms in Iranian capital market.
Kamran Mani; Jamshid Pajuyan; Teymor Mohammadi
Volume 11, Issue 42 , October 2011, , Pages 13-37
Abstract
The relationship between financial markets and the economic growth is a subject that has obviously been observed by many economists since the lifetime of Joseph Schumpeter. There have been various analyses and opinions on the development of financial markets and their effects on economic growth, and ...
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The relationship between financial markets and the economic growth is a subject that has obviously been observed by many economists since the lifetime of Joseph Schumpeter. There have been various analyses and opinions on the development of financial markets and their effects on economic growth, and various conclusions have been achieved through experimental studies. Some theoreticians view religious and cultural condition of countries as the factors of satisfactory effects on economical growth. Others believe bureaucracy and political establishment to be the main causes of such growth, while another group believes that the economic policy and strategies of each country play roles. The present article emphasizes the effect of taxes on the relationship between financial markets and economic growth in a model of endogenous growth. This effectiveness will be analyzed for period of (1992-2008). In this analysis, the study of panel data of more than 65 countries in the world signifies that taxes have negative effects and the development of commercial interactions has positive effects on the relationship between financial markets and economic growth. of Course, empirical findings of the study do not indicate significant relationship between taxes, financial markets and economic growth in the middle east countries.
Rouhollah Shahnazi; Zahra Dehghan Shabani
Volume 11, Issue 42 , October 2011, , Pages 161-185
Abstract
Doing business improvement influence on economic growth with increase
entrepreneurship, investment, property right and decrease production cost, price of domestic
production, informal sector, fiscal corruption, smuggled goods.
In this paper, factors affecting economic growth, especially doing business, ...
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Doing business improvement influence on economic growth with increase
entrepreneurship, investment, property right and decrease production cost, price of domestic
production, informal sector, fiscal corruption, smuggled goods.
In this paper, factors affecting economic growth, especially doing business, have been
analyzed using panel data models for 68 countries during 2003 ! 2006.
Results show weakness on seven components of doing business; i.e, Closing a business,
Registering property, Paying taxes, Trading across borders, Enforcing contracts, Employing
workers and Starting a business have negative effect on economic growth. Three other
components of doing business; i.e, Dealing with licenses, Getting credit and Protecting
investors have not expected effects on economic growth.
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. ...
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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.
Javad Rezaee; Mohammad Nadali; Javad Alizadeh
Volume 11, Issue 41 , July 2011, , Pages 111-135
Abstract
This study examines the relationship between productivity growth and
commerce sector growth during the period of 1981-2007 and examines empirically
the causal link between productivity growth and commerce sector growth in Iran
using unit root and co- integration techniques ...
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This study examines the relationship between productivity growth and
commerce sector growth during the period of 1981-2007 and examines empirically
the causal link between productivity growth and commerce sector growth in Iran
using unit root and co- integration techniques within a bi-variate vector auto–
regressive (bVAR) and Vector Error Correction (VEC) framework.
The results reveal a positive relationship between Productivity growth and
commerce sector growth for Iran with the direction of causation running from
productivity to commerce sector growth.
Alimohammad Ahmadi; Jalal Dehnavi; Amin Haghnejad
Volume 11, Issue 41 , July 2011, , Pages 159-180
Abstract
This paper analyzes the Granger causality between economic growth and
Foreign Direct Investment (FDI) inflows in the three income groups of 112
developing countries over the period of 1980 to 2006. For this purpose, panel data
techniques, including panel unit root, panel cointegration, and panel vector ...
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This paper analyzes the Granger causality between economic growth and
Foreign Direct Investment (FDI) inflows in the three income groups of 112
developing countries over the period of 1980 to 2006. For this purpose, panel data
techniques, including panel unit root, panel cointegration, and panel vector error
correction model, have been applied. The research findings indicate that; firstly,
there is a positive and statistically significant relationship between economic growth
and FDI inflow in each of three groups. Secondly, these findings, also, provide
strong evidence from gtanger causality between these two variables in all income
groups.
Esmail Abounori; Saeed Karimi Potanlar; Mohammad Reza Mardani
Volume 10, Issue 38 , October 2010, , Pages 117-143
Mohammadreza Saadi; Bahareh Oryani; Mir Hossein Mousavi; Masomeh Nematpour
Volume 10, Issue 38 , October 2010, , Pages 145-173
Jamshid Pajuyan; Bita Tabrizian
Volume 10, Issue 38 , October 2010, , Pages 175-203
Abolghasem Mahdavi; Mohammad Amin Naderian
Volume 10, Issue 38 , October 2010, , Pages 287-309
Karim Emami; Azadeh Mehrabian
Volume 10, Issue 36 , April 2010, , Pages 59-86
Abstract
One of the most important economic challenges that every economy of the world is facing is how to reach to a sustained growth in the long run. The aim of this research is to survey about the effects of business cycle volatility on economic growth in Iran from 1340 to 1387. Some of the variables used ...
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One of the most important economic challenges that every economy of the world is facing is how to reach to a sustained growth in the long run. The aim of this research is to survey about the effects of business cycle volatility on economic growth in Iran from 1340 to 1387. Some of the variables used in this research were growth of gross national product, volatility of business cycles, inflation, inflation uncertainty and the index of financial depth. In this survey, at first the volatility of business cycles and inflation uncertainty were computed by generalized autoregressive conditional heteroscdasticity model. Then we estimated the effects of volatility cycles in the long run for economic growth by using co-integration test and vector erorr correction Model. The results of this estimation show that the business cycle volatility causes a decrease in the long run economic growth. The reason is that the volatiity of economic production causes uncertainty in production and then as a result of that a decreas in investment and long run economic growth.
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.
Reza Akbarian; Seyyed Mohssen Heydaripour
Volume 9, Issue 34 , October 2009, , Pages 43-63
Abstract
The aim of this paper is to investigate the effect of financial market development on economic growth in the context of the Iranian economy in short and long-run over the period 1966–2007. Two financial developments indices (rate of financial saving to GDP and rate of domestic credit to GDP), has ...
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The aim of this paper is to investigate the effect of financial market development on economic growth in the context of the Iranian economy in short and long-run over the period 1966–2007. Two financial developments indices (rate of financial saving to GDP and rate of domestic credit to GDP), has been used in two separate econometric models "Auto-Regressive Distributed Lag (ARDL)" in order to investigates the effects of financial market development on the economic growth. In order to explain the private sector behavior, the rate of claims on private sector to domestic credit has been used as an independent variable.
The empirical results in two models suggest that in the short and long run, the financial development has negative effect on economic growth. This result supports the opinion about negative effect of financial development on economic growth in developing countries with a weak control on loans. In both models the influence of openness on economic growth is positive. The results also show the economic adjustment policies had negative effect on economic growth.
Seyyed Abdolmajid Jalaee; Mina Sabbagh Poorfard
Volume 9, Issue 33 , July 2009, , Pages 171-188
Abstract
Nowadays, the effect of foreign direct investment on economic growth, theatrically & empirically, has been proved. Developed countries have experiences, using FDI for reaching stability on economic growth and of course in this channel should not ignore the role of financial markets in these countries. ...
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Nowadays, the effect of foreign direct investment on economic growth, theatrically & empirically, has been proved. Developed countries have experiences, using FDI for reaching stability on economic growth and of course in this channel should not ignore the role of financial markets in these countries. In this paper, first the effect of FDI on economic growth has been investigated and then for the purpose of determining the stability of this effect, controlling variables have been used. The result shows that when controlling variables used, FDI have no effect on economic growth. According to this, several variables have been introduced to determining the role of financial markets. Through combining these variables and entering them in the growth model it is obvious that the effect of FDI on economic growth is significant. Therefore, it is concluding that, in Iran with better –developed financial markets, the effect of FDI on economic growth will be improved.
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 ...
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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.
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.
AZIZ MARASELI; Bagher Darvishi
Volume 8, Issue 30 , October 2008, , Pages 175-195
Abstract
The aim of this study is the financial repression in Iran’s economy during the period of 1968-2006. In the first part of the paper, the concept of financial repression, theoretical and empirical literature of financial repression and economic growth have been considered. In the second part of the ...
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The aim of this study is the financial repression in Iran’s economy during the period of 1968-2006. In the first part of the paper, the concept of financial repression, theoretical and empirical literature of financial repression and economic growth have been considered. In the second part of the paper, while financial repression indicators introduced, by using three separate models, the effects of financial repression on Iran’s economy is reviewed. The results of regression models revealed that the financial repression has no significant effects on Iran’s economic growth, but it has negative effects on economic efficiency.
Akbar Komeyjani; Mahmood Mahmoodzadeh
Volume 8, Issue 29 , July 2008, , Pages 75-107
Abstract
Analysis of ICT impacts on the economic performance has been started since 1990s. Researches have found different results about ICT outcomes in different countries at macro level. The aim goal of this paper is to investigate the impact of ICT on Economic Growth (EG) by using Growth Accounting theory ...
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Analysis of ICT impacts on the economic performance has been started since 1990s. Researches have found different results about ICT outcomes in different countries at macro level. The aim goal of this paper is to investigate the impact of ICT on Economic Growth (EG) by using Growth Accounting theory and Vector Error Correction Method (VECM) in Iran over the period 1959-2003 at different subperiods.
Findings state that the non-ICT capital stock has the vital role (almost 50 percent) in EG. The employment share is 30-38 percent. Total Factor Productivity (TFP) accounts for 7-10 percent of EG. The production elasticity of ICT capital stock is 0.07. It contributes almost 7.0 percent of EG in the period of 1984-2003. This share doesn't consist of quality adjustment, usage, spillover, and technological effects, therefore it is the least. Also, there is a causal relationship from ICT capital stock on production in short and long run. In addition, the Scale of Return is unit in
Iran economy. Improvement of the complementary factors and ICT infrastructure and Promoting the usage of ICT can increase the contribution of ICT in Iran economy.
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.
Abolfazl Shah Abadi
Volume 7, Issue 26 , October 2007, , Pages 181-211
Abstract
The aim of this paper is to assess the role of government expenditure and government economic policies on nonoil economic rate of growth during 1959-2003.
The result indicate that nonoil economic rate of growth depends negatively and significantly on the rate of growth of the ratio of labor and ...
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The aim of this paper is to assess the role of government expenditure and government economic policies on nonoil economic rate of growth during 1959-2003.
The result indicate that nonoil economic rate of growth depends negatively and significantly on the rate of growth of the ratio of labor and depends positively and significantly to the ratio of total investment, government investment and the rate of growth of the ratio of government expenditure, while the rate of growth of the ratio of money supply, the rate of growth of the ratio of export and import to nonoil GDP have not been influential and significant. In other word results show that these policy variables have not a significant effect on nonoil economic rate of growth. While finance policy has significant impact on nonoil GDP rate of growth, monetary policy does not.
In addition, we discussed various shocks and their immediate effects on different variables through application of impulse response and variance decomposition and tried to show the effect of changes on variables and on nonoil economic rate of growth accordingly.
