The Role of Production Factors in the Growth of Iranian Economy, with Emphasis on Natural Resources and Labor and Environmental Degradation

صمد زارعی ¹ ( دانشجوی مقطع دکتری، گروه اقتصاد کشاورزی، واحد مرودشت، دانشگاه آزاد اسلامی، مرودشت، ایران. )
سید نعمت اله موسوی ² ( دانشیار و عضو هیات علمی، گروه اقتصاد کشاورزی، واحد مرودشت، دانشگاه آزاد اسلامی، مرودشت، ایران. )

تاريخ التأكيد : 26 الثلاثاء , ذو القعدة, 1442

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ملخص المقالة :

AbstractThe purpose of this study is to investigate the impact of environmental quality and social capital on economic growth in Iran. So, this study, based on theoretical foundations, in addition to these variables, investigated the effects of various human capital indicators on Iran's economic growth during the period of 1973-92. The variables representing social capital included access to the Internet and telephone communication services. For human capital, literacy rate, enrollment rate in elementary school, as well as the number of students were used. It was also assumed that technology, in addition to workforce, would appear in the form of physical capital. The findings showed that physical capital was the most important factor in the growth of Iran's economy and its yield was 0.3-0.4. But a very small role was played by the variables of human capital and environmental capital. The role of social capital was also relatively acceptable and positive.Keywords: Growth Model, Social Capital, Environmental Capital, IranJEL Classification: O13, O47, R1

نص كامل:



 

The role of production factors in the growth of Iranian economy, with emphasis on natural resources and labor and environmental degradation

Samad Zarei**: PhD Student, Department of Agricultural Economics, Marvdasht, Branch, Islamic Azad University, Marvdasht, Iran.

Seyed Nematollah Mousavi: Associate Professor, Department of Agricultural Economics, Marvdasht, Branch, Islamic Azad University, Marvdasht, Iran.

Abstract

The purpose of this study is to investigate the impact of environmental quality and social capital on economic growth in Iran. So, this study, based on theoretical foundations, in addition to these variables, investigated the effects of various human capital indicators on Iran's economic growth during the period of 1973-92. The variables representing social capital included access to the Internet and telephone communication services. For human capital, literacy rate, enrollment rate in elementary school, as well as the number of students were used. It was also assumed that technology, in addition to workforce, would appear in the form of physical capital. The findings showed that physical capital was the most important factor in the growth of Iran's economy and its yield was 0.3-0.4. But a very small role was played by the variables of human capital and environmental capital. The role of social capital was also relatively acceptable and positive.

Keywords: Growth Model, Social Capital, Environmental Capital, Iran

JEL Classification: O13, O47, R1

 

 

Introduction

Until now, only labor force and physical capital have been considered as factors of production in neoclassical growth models. But recently, the creation of differences in the level of production and income among countries, beyond the difference in physical capital, has led to more dimensions of the variable of capital being investigated. These explorations led to the arrival of variables of human and social capital into a growth model. Of course, at a large and theoretical level, human capital was introduced in studies such as Romer (1986) and Lucas (1988). Social capital has recently been sought to explain the difference between individuals, societies and countries as a key variable (Dasggapeta and Seraj al-Din, 2000). Also, the role of the environment has recently been taken into account (Rosetta-Palma et al., 2010) to explain the determinants of economic growth, and in particular the analysis of the role of physical capital and the possibility of replacing it with natural capital. That is, the environment as part of growth is another part of capital.

Human capital means increasing the acquired abilities of individuals and increasing the power of production and productivity of individuals in an endogenous way (Renani et al., 2006). The role of human capital in economic growth was highlighted in the 1980s (Lucas, 1988). Hence, human capital accumulation is expected to lead to economic growth (Anbi et al., 2011). Theoretically, human capital growth is expected to lead to economic growth. Because human capital can potentially lead to sustainable economic growth through increased productivity and technical innovation (Eigen and Hought, 1988; Lucas, 1988; Romer 1990; Eigen et al., 2009). But empirical findings do not seem to confirm this view. For example, Jalil and Idris (2013) and Qadri and Wahid (2004) also found a positive relationship between economic growth and education in Pakistan. But they believe that there is no consensus on the effect of human capital accumulation on economic growth that this conflict in the impact of human capital on economic growth stems from the complex relationship between economic growth and education (Jalil and Idriss, 2013). Mineral findings (2011) for a group of developing countries suggest a negative impact of human capital on economic growth. Although several empirical studies have been used in empirical studies, but, as Samadi et al. (2012) have listed, in most empirical studies, indicators related to education have been cited as a measure of human capital.

Despite the design of various indicators for human capital, human capital means labor power is less discussed and the major challenge is social and environmental capital. Hence, this section focuses on social capital and environmental issues. Social capital is a network of collective relations that unifies the relationship between human beings and organizations (order and Yadipour, 2008). In general, social capital forms a set of informal norms of institutions and organizations that, based on social relationships and social networks, have acquired a common knowledge, mutual trust, social norms, and unwritten rules. Ishi and Suuda, 2009). Fukuyama (2000) defines social capital as the ability of individuals to work together for public purposes in groups and organizations. Many scholars define social capital as the trust and norms of citizenship groups, and others define this concept as cultural values ​​such as compassion, altruism, co-operation, and tolerance (Chou, 2006). Putnam (1993) also places social capital as a social organization that has features such as trust, norms, and a network of relationships. With regard to social capital, its abstractness and measurement criteria have been considered more than its role in economic growth. For example, Knock and Kiefer (1997) introduced trust and civil norms as criteria for social capital. While Ishi and Suuda (2009), in addition to the variables of trust, used variables such as newspaper publishing per head, postage per head, and the number of radio networks. Despite the diversity in the indicators of social capital, the positive effect of social capital can be seen in numerous studies. For example, Nawk and the punishment between norms and economic growth evaluated positively. Also, Bugsledik and Smolders (2004) assessed the impact of social capital on positive production in Europe. Findings of the study by Ishi and Suuda (2009) for a diverse group of countries also indicate the positive role of social capital in economic growth. In Iran, Rahmani and Amiri (2007) evaluated the effect of the decrease of social capital (trust) on economic growth in Iran's provinces negatively and meaningfully. In another similar study, Safdari et al. (2008) evaluated the number of closed cases of casualties and embezzlement and perpetual armed struggle as social capital indicators of the effect of increasing social capital on positive economic growth. Suri (1393) also evaluated the relationship between unsecured checks and economic growth negatively.

Other environmental determinants of growth, which have recently been highlighted, are the environment. Of course, the role of the environment has been explained in the early 1970's (Zuvelkas et al., 2007). Today, economic growth is one of the most important concerns of various human societies. Underdeveloped and developing countries want to achieve favorable economic growth for the transition from existing conditions. This often leads to environmental losses, such as increasing use of natural resources and the release of more volatile resources (Lotf Aliyupour et al. , 1392). In this statement, the costs imposed on the environment in the production process are referred to as the emission of pollutants as a productive factor. This means that efforts to reduce pollution will be accompanied by reduced production (Brooke, 1973). Ozawa (2003) explains the role of the environment as a space for the establishment of social capital, which suggests that carbon dioxide emissions will reduce social capital. The analysis of the relationship between economic growth and the environment is mainly summarized by Kuznets' environmental theory. Zowulkas et al. (2007) are one of the few studies that have considered the environment as a productive factor. They considered environmental assistance in terms of carbon dioxide emissions. The results of this study showed that among the 23 OECD countries, environmentalists, like physical capital and human capital, have significant economic growth support.

In order to achieve the target growth rate, it is necessary to identify the contribution of each of the determinants and to each of them in proportion to their role. This point is especially important in the Iranian economy, which has a low growth rate. The purpose of this study is to assess the role of capital types, including physical, human, social and environmental assets. For this purpose, the neoclassical growth pattern was used. But in comparison with the reviewed studies, it has two distinct contributions. First, it uses the environment as a productive input in the production function and explains its role in economic growth. Another contribution to the introduction of capital types in the growth pattern is in a situation where technology, in addition to crystallization in the form of labor, is considered as a skilled labor force in the form of physical capital.

Theoretical foundations and research method

Capital is one of the important factors in economic growth models. In the models of initial economic growth, physical capital was introduced as the only important factor, but over time, in addition to the quantity of factors of production, the quality of the factors of production, such as the workforce, was also raised, and thus human capital as a variable expresses the characteristics and individual characteristics of attention Became It was further noted that attention to individual characteristics alone was not enough, so to explain the economic growth in countries, communications and interactions among the people were also discussed, this important factor was used as social capital. Recently, the environmentalists have sought to explain the differences between countries' economic growth and more exploration of the separation of natural and physical capital, as another important factor in the growth model (Rosetta-Palma et al., 2010). In this way, the role of physical capital was extended to other important factors including human, social, and environmental capital.

From an economic point of view, social capital can be considered as one of the types of capital of any organization or community. In the past, the only human factor in a variety of capital was human capital, which is based more on the number, expertise, knowledge and skills of human resources at different levels of staff and managers. But paying attention to an organization as a social system leads to the fact that social capital also represents the value of the economic networks of trust and reduces the costs of exchanges and interactions in this list. In other words, social capital represents the economic savings of cultural and social components among human capital (Mohagheghi, 2006). The World Bank defines social capital as social norms and norms that are rooted in social structures and enable individuals to achieve their goals in a coordinated manner. This definition returns to the common values ​​of all social networks, namely trust, mutual relations, information and collaboration, which is created by these networks. While physical capital refers to material objects, and human capital refers to the characteristics and abilities that individuals possess. Social capital refers to communication between individuals, social networks and mutual norms and their trust (Reza Zadeh, 2012). From the organizational point of view, they define the obscurity and social capital as the sum of the actual and potential interests within, accessible through, and derived from, the network of the relations of an individual or a social unit. From their point of view, social capital is one of the most important organizational assets and assets that can help organizations create and share knowledge and make them more sustainable organizational advantages than other organizations (Nahapiet & Ghoshal, 1998)¹. Putnam (1990) sees social capital as the elements of the social system (such as social trust, interrelationship norms, and social networks), which facilitates coordination and cooperation among individuals in order to achieve mutual benefit (Tusasoli and Mousavi, 1382).

In recent years, social capital is considered as the basis for the economic development of any society. The importance of social capital in economic development in a society, to a degree that can be clearly seen in the flourishing economy of all developed societies. The World Bank considers social capital as the recipient of institutions, relationships and norms that shape social interactions and considers it "the invisible wealth of a country." In the absence of social capital, other funds lose their effectiveness. Without social capital, the path to cultural and economic development will be uneven (East & East, 2011). Social capital can be considered as a resource in social networks used by individuals and can also be considered as investment by individuals in individual and useful relationships in markets. In social capital, social relations, relations with predictable capacity can produce value. Contrary to human capital and traditional assets of an organization, social capital is exclusively the result of a significant social relationship that individuals invest over time (Acquaah, 2007). According to Coleman, social capital is neutral in terms of normative and ethical, that is, neither desirable nor undesirable, providing the necessary resources by providing the necessary resources (Coleman, 1998). In Fukuyama's opinion, participation in values ​​and norms does not in itself generate social capital. Because these values ​​may be negative values ​​(Francis, 1385).

In this research, the generalized solos model was used to analyze the role of social capital and the environment. This generalization can be divided into three distinct patterns. The first model involves the generalization of capital to human and social capital in the original solar model. In the second model, according to Rao (2010), the technology that was considered in the Solow model with the workforce was also considered to be a function of physical capital. In another part of the study, in the form of a third model, in addition to the types of capital mentioned, the environmentalist was introduced into the model as another kind of capital. The environment in the whole Iranian economy is included in the model according to the amount of carbon dioxide emissions (Zovalkas et al., 2007). In other words, pollution was used as an input in production. Now, in order to access the desired goals, the research model is presented.

generalized model of Mannquo, Roemer, and Weil (MRW) (1992). This template consists of three types of physical, human, and social capital, as shown herein, respectively. Subsequently, the workforce and the level of labor-intensive technology are added to it. When we use the Flexible CES production function with the assumption of constant returns to scale, the Cobb-Douglas production function comes with the variables of physical, human, and social capital, with parameters, and is obtained. Therefore, the Cobb-Douglas production function is in (1).

 

It is assumed that  and And the depreciation rate for all kinds of capital with   and the rate of savings for types of capital is shown with  and (Ishi and Suuda, 2009). It is assumed that A and L grow as endogenous at rates of n and g. So we have:

 

(2)

 

Hence, effective labor will grow at n + g rates (Manico et al., 1992). Now we can extract the solo equation for each unit of effective labor as follows.

(3)

 

The above equation is based on the effective workforce per capita:

(4)

 

In order to simplify the above statement, we delete the following t:

(5)

 

The above equation in terms of per capita capital is as follows:

(6)

 

On the other hand, in the direction of balanced growth, the equilibrium of the types of capital is obtained as follows:

(7)

 

(8)

 

(9)

 

We now put the equilibrium capital values in equation (6). Therefore, effective per capita income in long-run equilibrium is shown below.

(10)

 

The depreciation rate is assumed to be the same for all types of capital (Ishi and Suuda, 2009). So for every i,  and assume that and  that is. The logarithm of the per capita income derived from relation (10) will be in the form of relation (11):

 

(11)

 

Equation (11) is the extended mode of the MRW regression equation. This equation states that if a country is in long-term equilibrium in year t, the logarithm of per capita income can be a linear function of the savings rates for each type of capital, the effective labor force growth rate, plus depreciation, a intercept  and component A randomized prediction is presented. (Ishi and Suuda, 2009).

In this way, the estimated equations of the study are Equations (11), (20) and (23).

Presentation of the model and description of the variables

In this study, based on theoretical foundations, three econometric models are proposed in the framework of the Distributed Disturbance Lagrangement (ARDL)² model:

 

In the above relationship, GR represents economic growth, measured by the rate of GDP growth at constant prices. I The rate of physical investment (ratio of capital formation to gross domestic product), HCj represents the j index of human capital, which in this study consists of three EDUr indexes, DS students and Primary Elementary School Enrollment (ENRr) Has been. SCj also shows the j index of social capital, with two variables of Internet access (INT) and telephone access (PH). The use of such variables in previous studies has also been used and, therefore, theoretical foundations and studies confirm the use of such variables. In the above model, ENV is also an indicator of environmental quality. In this study, carbon dioxide emissions have been used as an indicator of environmental quality. Based on the materials presented in this study, the following six points are considered:

 

 

 

 

 

 

In this study, data from period 1353 to 1393 have been used. The methods used in this study are Root tests of generalized Dickey Fuller units and Phillips Paron for the purpose of reliability of the research variables and also the Distributed Lag Distribution Model (ARDL) model has been used to estimate the model. In addition, diagnostic tests have been used to verify the validity of the estimation models.

Results and discussion

As stated, in this study, six econometric models are estimated based on Distributed Layer Autoregressive (ARDL) model, and validation tests for the model will also be presented.

At first, statistical behavior of the variables used was evaluated statically using root unit test. The stationary test results showed that all the variables used have a static behavior. Table 1 shows the results of the reliability of the variables used in the research based on the Root tests of generalized Fuller Difficult and Phillips and Peron. As can be seen in the table, for all variables, based on the Fuller-Doogy test, and based on the Phillips-Peron test, the zero assumption of the existence of a single root in variables is rejected, and therefore all the variables used in this research are stable are.

 

Variable	Generalized Dickey Fuller Test		Phillips Paron Test
	The statistics	probability level	The statistics	probability level
The rate of physical investment	-5.363	0.000	-3.688	0.037
Literacy rate	-3.760	0.031	-3.646	0.040
Changes in the number of students	-6.016	0.000	-6.048	0.000
Elementary School Registration	-3.803	0.023	-3.600	0.045
Internet access	-4.508	0.005	-4.499	0.005
Phone Access	-4.341	0.010	-6.233	0.000
Environmental saving rate	-4.964	0.001	-4.954	0.001
labor	-4.193	0.011	-4.193	0.011

Table (1): Root test results for unit variables

 

In the estimation of the six patterns, the validation tests for the estimation model were first performed, and the results of these tests are presented in Table (2). As can be seen in the table, for each of the six models estimated in this study, both the coefficient of determination and the adjusted adjustment coefficient statistic indicate the ability of the model to explain the changes of the dependent variable and both F and t tests indicate a significant model Gives. The results also showed that non-self-correlation tests, functional form validation, normality of error statement and heterogeneity non-variance show that the model is correct. In the following, the coefficients will be explained in order to reach the goals of the research.

The results of the estimation in all models show that physical investment has a positive and significant effect on the economic growth rate in Iran. In other words, increasing the physical capital of production will increase. In addition, physical capital, in contrast to other types of capital, has had a greater impact on economic growth. Contrary to the physical capital of all three variables, human capital has had a negative effect on economic growth in Iran during the studied period. A sample of such a relationship is reported by Modal (2011) for a group of developing countries, and Manggi et al³. (2009) as well as Taheri et al. (2012). Possible reasons for this may be the lack of conformity of the training with the production structure. This means that there may be a lack of adaptation between the training and skills that individuals acquire and the production structure. Particularly in literacy, this will be more true. Because it is not expected that this level of training will change into functional skills and showcase its production. Another reason could be a defect in the employment and unemployment system in the relevant field. In this regard, there may be some evidence. For example, in terms of labor skills, the GTAP (World Trade Analysis Project) trade analysis matrix also highlights the proportion of unskilled workforce to skilled labor (2006, GTAP)⁴. Another example is the low share of the workforce with higher education in the country's employment.

The results show that the variables that show social capital have led to different effects. As the use of the Internet has a positive and significant effect on economic growth, while the use of telephones has not had a significant effect on economic growth in Iran. As the results show, the effect of social capital on economic growth has been more important than human capital.

One of the variables considered in this study is the environmental quality variable. The role of environmental quality has a positive direction⁵; however, for all the provisions of this variable, there was no significant effect on economic growth in Iran. Nevertheless, it can be said that auspicious assistance is important but with a positive direction for the variable of environmental capital.

 

 

 

 

 

 

 

 

 

---

[1]  Nahapiet & Ghoshal

[2]  Autoregressive Distributed Lag

[3]  Managi et al.

[4]  Global Trade Analysis Project

[5]  The negative effect of carbon dioxide emissions on economic growth indicates the positive impact of environmental quality on economic growth

 

variable		Specify1		Specify2		Specify3		Specify4		Specify5		Specify6
		Coefficient	probability level	Coefficient	probability level	Coefficient	probability level	Coefficient	probability level	Coefficient	probability level	Coefficient	probability level
The first interruption of economic growth		0.823	0.000	0.795	0.000	0.883	0.000	0.892	0.000	0.780	0.000	0.814	0.000
Physical Capital Savings Rate		0.23	0.009	0.22	0.008	0.21	0.000	0.21	0.006	0.24	0.009	0.28	0.007
The first interruption of the rate of physical capital savings		0.37	0.006	0.27	0.005	0.35	0.009	0.32	0.003	0.31	0.006	0.27	0.005
Literacy rate		-0.028	0.004	-0.032	0.004	-	-	-	-	-	-	-	-
Changes in the number of students		-	-	-	-	-0.003	0.342	-0.004	0.237	-	-	-	-
Elementary School Registration		-	-	-	-			-	-	-0.043	0.012	-0.041	0.021
Internet access		0.001	0.034	-	-	0.002	0.024	-	-	0.001	0.028	-	-
The first interruption of Internet access		-	-	-	-	0.012	0.000	-	-	-	-	-	-
Phone Access		-	-	-0.0049	0.783	-	-	-	-	-	-	-0.054	0.439
Quality of environment		-.0002	0.217	-0.001	0.23	-0.003	0.343	-0.002	0.223	-0.0005	0.214	-0.002	0.212
Width from source		-13.237	0.059	-13.237	0.059	-13.237	0.059	-13.237	0.059	-13.237	0.059	-13.237	0.059
Statistics	The coefficient of determination	0.864		0.864		0.864		0.864		0.864		0.864
	F statistics	22.345	0.000	22.345	0.000	22.345	0.000	22.345	0.000	22.345	0.000	22.345	0.000
	Watson Camera Statistics	1.777		1.777		1.777		1.777		1.777		1.777
	Adjusted coefficient of determination	0.825		0.825		0.825		0.825		0.825		0.825
Bid test	Lack of self-affiliation	0.757	0.944	2.652	0.155	0.949	0.330	0.949	0.330	0.911	0.246	0.652	0.855
	Specifying functional form	0.740	0.390	1.039	0.308	1.475	0.227	1.813	0.178	1.866	0.172	0.805	0.423
	Normal being an error statement	1.149	0.563	0.673	0.714	0.320	0.852	4.480	0.106	0.853	0.653	1.045	0.643
	Heterogeneity non-variance	0.013	0.909	1.214	0.271	2.340	0.126	2.431	0.119	1.340	0.274	1.714	0.228

Table 2: Results of the estimation of the research model

 

 

 

 

 

One of the tests used to check the pattern consistency is the aggregated return statistics (CUSUM) and the sum of squares accumulated recyclable waste (CUSUMSQ). Here, due to the avoidance of repetition of the results, as well as the abbreviation in the article, it is examined for the first reasoning of the econometric model of the research; in addition, for the other models of research, this result has been obtained. The first test is used to examine the systematic changes in the estimated coefficients and the second test is used to investigate the occurrence of sudden and random changes in the coefficient stability. If the statistics are placed between the two-line boundary lines, the zero hypothesis, that is, the stability of the parameters, will not be rejected. The results of these tests are presented for the model in Fig. 1 and Fig. 2. As shown in the diagram, the model parameters are stable. Therefore, it can be said that based on this two tests, the hypothesis zero is not based on the stability of the parameters and the model parameters have stable stability. As stated, model stability was confirmed for other regulations.

 

Figure (1): Total Recovered Solid Waste (CUSUM)

 

Figure (2): Total squared recycle residues (CUSUMSQ)

Conclusions and suggestions

The main objective of this study is to investigate the effect of social capital and environmental quality on Iran's economic growth. In order to access this goal, data from period 1353 to 1393 was used for Iran. In this study, six econometric models were estimated using root dicipal Fulz equation and Phillips Paron, Distributed Layer Autoregressive Pattern (ARDL) and related tests. The results of this study showed that physical capital has a positive and significant effect on Iran's economic growth while human capital investment has negative and significant effect on economic growth. On the other hand, the results showed that social capital could have a positive and significant effect on Economic growth has been in Iran. The result of this study showed that environmental quality has not had a significant effect on economic growth in Iran. The environment shows the characteristics of the public goods; these characteristics may result in non-optimal allocation and, ultimately, the lack of statistical significance of the environment. In particular, due to the environmental degradation and carbon dioxide emissions, Iran's environmental use is currently at a very high level. Another possible reason is the index type used. Although carbon dioxide emissions are commonplace as a benchmark, it can be suggested as a recommendation for future studies to use alternative indicators.

In this study, the role of social capital was positively evaluated. Although in most cases this role is estimated at one third to one quarter of the role of physical capital, the overall role of social capital is relatively acceptable and suggests the positive contribution of this variable to production. With regard to the contribution of social capital to economic growth, Rosetta-Palma et al. (2010) argue that social capital is a public commodity, which, because it does not pay for firms, uses it much higher than what the market mechanism recommends. This will reduce the contribution of social capital to production. Social capital, which is considered more in the form of access to communications, has a positive impact and suggests the development of services of this kind of capital.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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