Panel data

Open Access Article

1 - Forecast of cash flows in the listed firms of Tehran Stock Exchange
Rasoul Yarifard Jafar Karmanj Hossein Nematjoo Mahdi Ebrahimi

Forecasts of cash flows are considered by investors, creditors,firm employees and rating institutions. Investors regard cash flows as the input of their investment models allowing them to make decisions about returns resulted from the divided profit and capital. Credito More

Forecasts of cash flows are considered by investors, creditors,firm employees and rating institutions. Investors regard cash flows as the input of their investment models allowing them to make decisions about returns resulted from the divided profit and capital. Creditors are interested in the decisions of paying the firm obligations exchanging with them and the employees are concerned with cash flows in terms of job security and persistence of activities of firm that they are working there. Persistence of activity and the firm ability in timely payment of debts are also highly important for rating institutions. The main purpose of the present study is the investigation of forecasting cash flows among 97 firms from the listed firms of Tehran Stock Exchange from the beginning of 1388 to the end of 1392.To investigate the research hypotheses, it was used from panel data regression model. The results showed that the costs of sold goods and the public and administrative costs have significant impacts on forecasting cash flows, however, sales, change in the payable accounts, change in the receivable accounts, change in inventory, tax and cash flows of the last year have not significant impacts on forecasting cash flows. Manuscript profile

Open Access Article

2 - Foresight entrusting issuance processes of construction permits in Iran municipalities by multi-criteria decision making through balanced scorecard framework
Maryam Ghalehnovy Farshid Abdi Kaveh Khalili-Damghani

Forecasts of cash flows are considered by investors, creditors,firm employees and rating institutions. Investors regard cash flows as the input of their investment models allowing them to make decisions about returns resulted from the divided profit and capital. Credito More

Forecasts of cash flows are considered by investors, creditors,firm employees and rating institutions. Investors regard cash flows as the input of their investment models allowing them to make decisions about returns resulted from the divided profit and capital. Creditors are interested in the decisions of paying the firm obligations exchanging with them and the employees are concerned with cash flows in terms of job security and persistence of activities of firm that they are working there. Persistence of activity and the firm ability in timely payment of debts are also highly important for rating institutions. The main purpose of the present study is the investigation of forecasting cash flows among 97 firms from the listed firms of Tehran Stock Exchange from the beginning of 1388 to the end of 1392.To investigate the research hypotheses, it was used from panel data regression model. The results showed that the costs of sold goods and the public and administrative costs have significant impacts on forecasting cash flows, however, sales, change in the payable accounts, change in the receivable accounts, change in inventory, tax and cash flows of the last year have not significant impacts on forecasting cash flows. Manuscript profile

Open Access Article

3 - The impact of corporate governance on the financial performance of listed companies in the Tehran Stock Exchange Chemical industry
Hamidreza Taherian Abdolhosein Karampour

Manuscript profile

Open Access Article

4 - The effect of uncertainty in exports on economic development in OPEC member countries
AhmadAli Asadpour

Background: Uncertainty about oil export revenues and its impact on OPEC's economic growth Objective: To investigate the effect of export uncertainty on economic growth of OPEC member countries during the years 2000 to 2013 Method: The use of a time-series or hybrid d More

Background: Uncertainty about oil export revenues and its impact on OPEC's economic growth Objective: To investigate the effect of export uncertainty on economic growth of OPEC member countries during the years 2000 to 2013 Method: The use of a time-series or hybrid data combination model. To determine the type of model used in the combined data, various tests such as Chow, Hausman and LM have been used, and then three indicators of export instability have been described and the fourth indicator has been used to calculate export instability in OPEC member drafts. Findings: The negative and significant (Table 5) is the export uncertainty factor. Therefore, this uncertainty in exports reduces the economic growth of the OPEC countries. Since variables are used as natural logarithms, It can be said that if the uncertainty of exports increases by one percent, economic growth will fall by as much as 0.47 percent. On the other hand, the results of the test of causality relationship also indicate that the causality relationship is from export uncertainty to economic growth. RESULTS: OPEC countries need to invest flexibly in human and material capital, increasing the processing of petroleum products and the diversification of export goods, in order to reduce the vulnerability of income-generating uncertainty.   Manuscript profile

Open Access Article

5 - Foreign trade and foreign direct investment economic impact of the OIC Member States: Emphasis on management of import and export
Anayatulah Najibzadeh - Seyyed Rouhollah Seyyedi Mehdei Aram Bon Isaac Sediq Salekdeh

This study has investigated the effectiveness of trade and foreign direct investment on economical growth the countries belong to islamic conference members. According to Bhagwati event, economical growth will affect on foreign direct investment under economical strateg More

This study has investigated the effectiveness of trade and foreign direct investment on economical growth the countries belong to islamic conference members. According to Bhagwati event, economical growth will affect on foreign direct investment under economical strategies which has been examined since 2000 to 2012. Based on the obtained resources, economical openness plays a positive and meaningful role on foreign direct investment. Therefore, it has been recommended developed countries of islamic conference member have to utlize extroversion strategies in order to be more effective in these investments and exploitation of their benefits and also provide an appropriate condition for export. Manuscript profile

Open Access Article

6 - Autoregressive stochastic frontier model with nonlinear function of exogenous variable and dynamic technical inefficiency
Bahareh Feizi Ahmad Poyrdarvish

10.30495/jnrm.2022.63544.2155

In this paper, we focus on a new autoregressive stochastic frontier model based on the nonlinear function of the exogenous variable in the panel data. In classical financial models, the technical inefficiency is considered uncorrelated, which is often not satisfied in e More

In this paper, we focus on a new autoregressive stochastic frontier model based on the nonlinear function of the exogenous variable in the panel data. In classical financial models, the technical inefficiency is considered uncorrelated, which is often not satisfied in empirical cases. In the proposed autoregressive stochastic frontier model, the error consists of two components, statistical error, and technical inefficiency, so that technical inefficiency is assumed to be autocorrelated. Autocorrelated technical inefficiency can be interpreted as the technical inefficiency of a company at the current time depends on the extent of the company's previous technical inefficiency and its current transient inefficiency. The semiparametric method for estimating the nonlinear function of the exogenous variable is calculated through a two-step process with Taylor series expansion and nonparametric adjustment factor. The expectation-maximization approach is used to estimate the parameters of the model and the estimation performance is evaluated by Monte Carlo simulation. Manuscript profile

Open Access Article

7 - Designing and presenting a model to determine the effect of macroeconomic and banking variables on the occurrence of asset freezing in the country's banking system
Fateme Davoudi Farkoosh mohammad ebrahim Mohammadpoor zarandi mehrzad minouei

In this article, the goal is to design and present a model to determine the effect of macroeconomic and banking variables on the occurrence of asset freezing in the country's banking system using meta-heuristic models. The current research is applied in terms of purpose More

In this article, the goal is to design and present a model to determine the effect of macroeconomic and banking variables on the occurrence of asset freezing in the country's banking system using meta-heuristic models. The current research is applied in terms of purpose, in terms of research method, correlation analysis type and in terms of overall research design, post-event and retrospective. In order to answer the research questions, the annual data of macroeconomic and banking variables, during the period of 1399-1390, were collected and using the test of regression models in EViews, Smart PLS software and also the neural network model. It was estimated in SPSS Modeler software. The estimation results of the regression model of the first hypothesis in EViews software showed that the economic variables of GDP, unemployment rate and interest rate, consumer price index, currency strength at the error level of one percent and the economic growth rate variable at the error level of ten percent have a significant relationship. They have a dependent variable (asset freezing). Also, the estimation results of the structural model of the first hypothesis in the PLS software are significantly aligned with the output of the Eviuse software. So; The first research hypothesis is confirmed. Also, the results of the regression model estimation of the second hypothesis in EViews software showed that the intra-bank variable of the bank size ratio, return on equity, and the amount of liquidity at the error level of ten percent, and the variables of capital adequacy, return on assets, bank capital, at the error level of one percent. The percentage has a significant relationship with the dependent variable (asset freezing). Also, the estimation results of the structural model of the second hypothesis in the PLS software are significantly aligned with the output of the Eviuse software. So; The second research hypothesis is also confirmed. Manuscript profile

Open Access Article

8 - The Application of Pecking Order Theory in Financing
رضوان حجازی هاشم ولی پور مهرنوش سیامر

In today's competitive environment, financial managers are trying to consider thecapital structure and financial decision in order to increase their companies' value.This research is aimed at studying the ability of pecking order theory in explaining thecapital structur More

In today's competitive environment, financial managers are trying to consider thecapital structure and financial decision in order to increase their companies' value.This research is aimed at studying the ability of pecking order theory in explaining thecapital structure pattern of companies in Iran’s capital market.The statistical population of this research includes all industrial companies listed inTehran Stock Exchange (TSE). 127 industrial companies have been selected induration of 2000-2009 as samples based on a systematical method. Library methodhave used for data collecting, and balanced panel data and panel analysis model haveused for examining the research hypothesis.The obtained results suggest that there is a positive significant relation betweenfinancing deficit and net long-term debt issued as well as between maturing long-termdebt issued and long-term debt issued. This shows that the Iranian companies followpecking order theory in their capital structure pattern. Manuscript profile

Open Access Article

9 - The Effect Corruption on the Financial Health of Islamic Banks
Vahid Bekhradi Nasab Fatemeh Zholanezhad

Islamic banking is developing rapidly around the world and is increasingly recognized as a viable alternative mode of financing especially these last years when capitalism has shown its limits and weaknesses. However, this astronomical growth of banking and Islamic fina More

Islamic banking is developing rapidly around the world and is increasingly recognized as a viable alternative mode of financing especially these last years when capitalism has shown its limits and weaknesses. However, this astronomical growth of banking and Islamic finance was associated with a high level of corruption that plagues many Muslim countries. This ailment of corruption can deter Islamic banking to be a better effective and meaningful pathway for poverty reduction and economic development.The purpose of this paper is to investigate the impact of corruption on the soundness of Islamic banks. The purpose of this study is to assess the effect of corruption on the financial health of Islamic banks. The statistical population of this study is all banks accepted in Tehran Stock Exchange during the period from 2011 to 2016. Sample was selected based on the systematic elimination method and 23 banks were the basis for research hypothesis. The research method's research hypothesis and the fitting of the research model have been done using the EViews econometric software. There is a negative and significant relationship between financial corruption with the health of Islamic banks.Evidence of research suggests that, with the intensification of corruption at the country level, the financial health of banks has decreased and corruption has an adverse effect on the financial health of banks. In other words, financial corruption in the country threatens the financial health of banks. Manuscript profile

Open Access Article

10 - Assay the Effect of revenue Diversification on performance in Accepted Banks in Tehran Stock Exchange
seyed kazem Ebrahimi Mehri Shahriyari Soheyla Mehman-navazan

To create diversified revenue strategies for the purpose of value and performance improvement has become vital due to the globalization of the banking industry.This article investigates the effect of revenue Diversification on Performance in Accepted Banks in Tehran Sto More

To create diversified revenue strategies for the purpose of value and performance improvement has become vital due to the globalization of the banking industry.This article investigates the effect of revenue Diversification on Performance in Accepted Banks in Tehran Stock Exchange from 1388 until the end of 1392. The population of the study are the accepted banks in Tehran Stock Exchange.Variables needed to use the software Excel calculated and then through multiple regressions, using Eviews software and Fisher F test research hypotheses were testedWith this study, it was found that revenue Diversification and ROA have a positive impact and cost- to- income have a negative impact on bank performance. The results show that equity and bank size have no effect on the Bank's Performance. Manuscript profile

Open Access Article

11 - The effect of the abundance of natural resources on financial development in selected OPEC countries of oil and gas (with emphasis on the multi-dimensional index of financial market development in the stock market)
M. H. Mahdavi Adeli Maryam Rohani

The relationship between real sector performance and the financial sector has attracted many studies. While there is a relative consensus among economists on the effect of the export earnings of natural resources and financial development in the banking sector. But the More

The relationship between real sector performance and the financial sector has attracted many studies. While there is a relative consensus among economists on the effect of the export earnings of natural resources and financial development in the banking sector. But the stock market has not been seen as the main backbone of capital market activities in pursuit of sustained and sustained economic growth, especially in countries rich in natural resources. In this paper, the relationship between the multi-dimensional index of financial development in the stock market (which is extracted using principal component decomposition method) and the abundance of natural resources in selected OPEC members selected from oil and gas in the years 2000 to 2016 It checks the panel data method.The research findings indicate that there is a positive and significant relationship between financial development in the stock market and the income from resource exports. Also, the model estimation indicates the negative impact of inflation and the positive effect of government size and the degree of openness of the economy on the development of the stock market. Manuscript profile

Open Access Article

12 - Investigating the relationship between probability of default and capital structure by KMV model .
شهلا آذری پناه میرفیض فلاح شمس

So far different models have been proposed for prediction of customers’ credit risk.However, use of a model which without relying on historical data employs market data asa warning about the customer’s current state and even about the expectations regardingt More

So far different models have been proposed for prediction of customers’ credit risk.However, use of a model which without relying on historical data employs market data asa warning about the customer’s current state and even about the expectations regardingthe customer’s future state seems necessary. In this research, the relationship betweencomponents of capital structure and probability on default of the listed companies onTehran Stock Exchange (TSE) has been investigated. Research data were extracted froma sample consisted of 40 joint-stock companies receiving facilities from Iranian banks forthe period 2004-2010. First, using KMV model the firms default probability wascalculated. Next, using Panel Data method a regression was performed to examine therelationship between capital structure components as the independent variable (firm size,B/M, leverage, fluctuation of return on asset, share return, and sensitivity coefficient) andprobability of default as the dependent variable and then regression tests were conducted.Research results indicate a significant relationship between capital structure andprobability on firms default. Manuscript profile

Open Access Article

13 - Study the Relation between Exchange Rate as one of the Microeconomic Variable and Stock Return with APT Model (Examined Export Company in Tehran Stock Exchange)
Zahra Farshadfar

This research trying to study the effect of exchange rate on risk and return of Export Company with Arbitrage Pricing Model and panel data in 2008- 2012 duration. Because increasing international trade case to risk and return in Export Company goes up. Result show that More

This research trying to study the effect of exchange rate on risk and return of Export Company with Arbitrage Pricing Model and panel data in 2008- 2012 duration. Because increasing international trade case to risk and return in Export Company goes up. Result show that there is positive relation between stock return, exchange rate and its differences Manuscript profile

Open Access Article

14 - Study the Effect of Stock Liquidity on Excess Return with Five Factors Arbitrage Pricing Model
Zahra Farshadfar Mansour Khalili Eraghi

Identifying the important factors of risk and return and optimal resources is one of the most important element to reach the maximum return. This would help individuals and institutions investors searching the best strategy to help them reaching this. This research try More

Identifying the important factors of risk and return and optimal resources is one of the most important element to reach the maximum return. This would help individuals and institutions investors searching the best strategy to help them reaching this. This research try to study the five factor arbitrage pricing model based on the Cerhat four factor model plus stock liquidity and testing the empirical model in Iran Stock ExchangeFor do that we have used the panel data model for the period of 2008-2012 for 173 active unit in Tehran Stock Exchange Manuscript profile

Open Access Article

15 - Effect on economic growth in the banking sector and capital markets (the study of Islamic Conference member countries)
Taghi Torabi Mahdi Taghavi Mohammad Nasiri

Achieving long term and sustainable economic growth in any country is made possible by optimal mobilization and allocation of investment resources in the country's national economy. Extensive and efficient financial markets, in particular efficient capital markets, are More

Achieving long term and sustainable economic growth in any country is made possible by optimal mobilization and allocation of investment resources in the country's national economy. Extensive and efficient financial markets, in particular efficient capital markets, are essential to achieve this goal. Market economy-based system at the macro level is established on four markets (product market, labor market, money market, and capital market) which among them, two markets (money market and capital market) are associated with the financial sector. The second coin of any country’s economy is its financial sector, which is in fact complementary to the real sector of the economy. The optimal performance of an economic system depends on two efficient, complementary, powerful, and supervised financial and real sectors. The collaboration of these two sectors is a necessary and sufficient prerequisite for an optimal economic system.In this study, the effects of banking sector and capital market on economic growth as well as a causal relationship between economic growth and capital market development and banking sector were investigated using the panel data model. The estimation result of the model indicated that during 1995 to 2014, stock market variables had insignificant negative effects on the production and economic growth of the study countries. In other words, according to these results, it could be stated that during the period in question, the stock market had no effect on the economic growth of these countries. In contrast, banking sector variables had significant positive effects on the productions and economic growth of these countries. Manuscript profile

Open Access Article

16 - The Effects of Financial Liberalization on Market Capitalization Ratio
اعظم احمدیان مهدی تقوی

This paper evaluates the effects of financial liberalization on Market Capitalization Ratio, from 1990 to 2008, for a sample of 6 countries. These countries are of the MENA region: Egypt, Oman, Saudi Arabia,, Iran Islamic Rep, Jordan, Tunisia. We used the Foreign Direc More

This paper evaluates the effects of financial liberalization on Market Capitalization Ratio, from 1990 to 2008, for a sample of 6 countries. These countries are of the MENA region: Egypt, Oman, Saudi Arabia,, Iran Islamic Rep, Jordan, Tunisia. We used the Foreign Direct Investment as financial liberalization index. The finding shows that financial liberalization spurs Market Capitalization Ratio. Unfortunately this effect is low. Some of reasons are economic instability , visit constraint for foreign investment and securities expansion to them. Economic stability and substructure provisions and precaution for securities expansion to foreign investment are precondition to liberalization Manuscript profile

Open Access Article

17 - The impact of stock market pressure on tax benefits based on the Ming-Chin Chen model (2015)
Hosein Norouzizadeh M. Reza Setayesh M. Hasan Janani

The main aim of this study was to investigate the impact of stock market pressure on tax benefits based on the Ming - Chin Chen model (2015). Using screening method, 113 companies were selected as sample. This retrospective research investigated the impact of the indepe More

The main aim of this study was to investigate the impact of stock market pressure on tax benefits based on the Ming - Chin Chen model (2015). Using screening method, 113 companies were selected as sample. This retrospective research investigated the impact of the independent variable of “ stock market pressure ” on tax benefits of studied companies . This was a semi - experimental applied descriptive - correctional study . It analyzed the financial statements of companies during 2010 - 2015 . A panel data analysis with random effects was used to analyze the data .A multivariate regression analysis was used to analyze the data . The results at a 95% confidence interval showed that there was a significant positive (direct) relationship between stock market pressures and tax benefits of companies listed in Tehran Stock Exchange. Manuscript profile

Open Access Article

18 - Social capital and good governance Case Study: Developing Countries (1996 – 2010)
Iman Mirzaaghanasab Gerdrudbari Mehdi Taghavi

In this study we examine the effect of social capital on good governance in developing countries. We start with a brief review of the concepts of social capital and then use the data from 1196-2010 to evaluate the effect of social capital on good governance indicator. U More

In this study we examine the effect of social capital on good governance in developing countries. We start with a brief review of the concepts of social capital and then use the data from 1196-2010 to evaluate the effect of social capital on good governance indicator. Using panel data, our econometric models show that the magnitude of social capital has a significant and positive impact on good governance. JEL Classification: Z13 , H11 , C23 Manuscript profile

Open Access Article

19 - Analysis of the Effects of Relative Price Variability and Monetary Shocks on Inflation in Iran’s Economy
مجید احمدلو اکبر کمیجانی کامبیز هژبر کیانی فرهاد غفاری

This paper analyzes the effects of relative price variability and skewness as aggregate supply shocks and liquidity as aggregate demand shocks on inflation in the Iranian economy. For this purpose, the total and state urban price index and M2 for period 1383-1390 and Ar More

This paper analyzes the effects of relative price variability and skewness as aggregate supply shocks and liquidity as aggregate demand shocks on inflation in the Iranian economy. For this purpose, the total and state urban price index and M2 for period 1383-1390 and Arellano and Bover (1995) and Blundell and Bond (1998) method has been used. The results show that relative price variability and M2 has positive and meaningful effect on inflation. Also, relative price skewness have negative effect on inflation. So, it is needed to consider supply and demand shocks simultaneously in disinflation policies. Manuscript profile

Open Access Article

20 - Measuring the effect of neoclassical and institutional variables on employment rate in the OECD Developed countries
Mohammadreza Sharif Azadeh Akbar Komijani Teimour mohammadi Akbar Bagheri

The purpose of this paper is to compare the effect of neoclassical and institutional variables (good governance indices) on the employment rate in the developed countries in the Economic Co-operation and Development (OECD) selected countries. The neoclassical and instit More

The purpose of this paper is to compare the effect of neoclassical and institutional variables (good governance indices) on the employment rate in the developed countries in the Economic Co-operation and Development (OECD) selected countries. The neoclassical and institutional variables are considered based on panel data econometric models for 24 of the OECD countries in the period of 1996 - 2011. The research model estimation includes seven equations (the first equation with neoclassical variables and the other equations with neoclassical variables and good governance indices separately) for developed countries of the OECD countries. The research model shows that neoclassical variables such as; the share of Gross Fixed Capital (GFC), the share of per capita real Final Consumption Expenditure (FCE) and the share of Foreign Direct Investment (FDI) flow as a percentage of real GDP are positive and significant in all seven estimated equations except in some sections for FCE and FDI. Also the effect severity of GFC is higher than FDI and FCE on employment rate. However, all six indicators of good governance (institutional variables) had a significant positive effect on the employment rate so that control of corruption index, voice of people and government accountability, government effectiveness, rule of law, regulatory quality and political stability, have had the first rank to sixth in terms of the impact severity on employment rate in these countries. Finally, practical suggestions are presented for improving the employment rate of the relevant countries according to the institutional approach (with an emphasis on good governance). Manuscript profile

Open Access Article

21 - The effects of information and communication technology (ICT) on the employment in industrial factories of Khorasan Province
کامبیز هژبرکیانی محمد حیدری

In this paper, the effects of Information and Communication Technology (ICT) on employment in different specialized category ranging from total labour force, plain work force, skilled work force, engineer work force, technician work force have been investigated.   More

In this paper, the effects of Information and Communication Technology (ICT) on employment in different specialized category ranging from total labour force, plain work force, skilled work force, engineer work force, technician work force have been investigated.  Independent variables include the index presentating information the index of obtaining information, the number of Internet and computer users, value added, the price of capital, wage and dependent variable is employed labour force .  The study period 1385-1389 used for estimation and analysis of the results of the data panel data method. The results of the study are as follows: all technology indicators have positive effect and meaningful on employment: upon of total work force, that is, the effect produced as a result of the predominance of expressing productive effect to process effect. In the case of work force and skilled work force and a simple negative effect between technology and employment indicators confirm the expressing inability to use different specialized category of technological indicators. The index showed a significant positive effect on information and communication technology employment of technicians and engineers in the labor force in the province, and the positive effect of these hypothesis indicators on employment has been approved. Manuscript profile

Open Access Article

22 - survey of Economics factors affecting the absorption in the oil producer middle eastern countries
فرهاد غفاری جابر اکبری

Foreign direct investment entering the country in addition to financing investment projects, Accelerate the process of technology development, education, human capital increase productivity, improve quality and standards of the domestic goods, Expand trade with other co More

Foreign direct investment entering the country in addition to financing investment projects, Accelerate the process of technology development, education, human capital increase productivity, improve quality and standards of the domestic goods, Expand trade with other countries, reducing the unemployment and increase production in the host country. Given the importance of attracting this type of investment, in this study, the analysis of FDI and Algebraic and graphing and macro-economic indicators affected by it, Paid to economic factors affecting foreign direct investment in the oil producer middle eastern countries during the period (2010-1995) in the panel data econometric methods .The study shows that the results estimate the degree of economic openness, economic Security , has a significant positive effect on attracting foreign direct investment in the countries studied but market size and labor force alone, no significant effect on attracting foreign direct investment. Manuscript profile

Open Access Article

23 - The Effects of Macro economic Variables on Life Insurance Demand (Case study: MENA Region (
کامبیز پیکارجو فرهاد غفاری فهیمه شاهانی

In developed countries a significant part of trade volume of insurance industry (over 50 percent) belong to the life insurance. The share of life insurance in insurance markets in developed countries, is considered as a degree of development in insurance industries in d More

In developed countries a significant part of trade volume of insurance industry (over 50 percent) belong to the life insurance. The share of life insurance in insurance markets in developed countries, is considered as a degree of development in insurance industries in different countries, therefore developing countries intended to review the factors that affect growth and development life insurance to be able to accelerate development and increase the input size of insurance sector of capital markets. This research assesses  the effects of macro economic  variables on the demand for life insurance in the selected countries by using panel data estimation method between 1999-2008. Results of this study show that all macro economic variables( inflation, interest rates, financial development, GDP per capital and employment) have significant effect on demand for life insurance in studied countries. It is obvious that financial development has minimum effect on purchasing life insurance in this countries, also there is no significant relationship between oil shock and the demand for life insurance in studied countries. Manuscript profile

Open Access Article

24 - Comparison of Nanotechnology R&D’s Effect on Economic Growth in developing and developed countries
رویا آل عمران وحیده کسمائیپور سید علی آلعمران

Science and technology is the most important force of promoting economic and social development. Along with the pace of globalization, science and technology increases the demand for talents, physical sources, transfer of technology and investment in the world. In this More

Science and technology is the most important force of promoting economic and social development. Along with the pace of globalization, science and technology increases the demand for talents, physical sources, transfer of technology and investment in the world. In this relation, industry with developed technology will not only be the motor of world economic growth, but also industry is the important privilege in keeping the countries in the competitive markets. For this reason, the level of industry with high technology is the main determinant of the level of economic and social development of a country and the kind of the role of that country in the world economy.     The purpose of this research is to compare the rate of effectiveness of economic growth in the selected developing and developed countries on research and development of Nanotechnology and R & D influence in those countries, using panel data approach over the period of 2000-2007. Findings show that Nanotechnology research and development has positive and meaningful effects on the economic growth of these countries and the hypothesis of more effectiveness of economic growth coming from the research and the Nanotechnology development in the developed countries relative to the developing countries is rejected.   Manuscript profile

Open Access Article

25 - The Effects of Internal R&D Efforts and Intermediate - Capital Imports on Value added in Iranian provincial Industries
Manijeh Taghilou-Barzelaghi Gholamhosein Rahnomay Garamaleki Hasan hoseinzadeh Monireh Dizaji

In this study we used an endogenous growth model including expenditures on R&D and imported intermediate goods as independent variables to investigate the effect of these activities on value added of selected industries indifferent Iranian provinces for the period o More

In this study we used an endogenous growth model including expenditures on R&D and imported intermediate goods as independent variables to investigate the effect of these activities on value added of selected industries indifferent Iranian provinces for the period of 1995-2010.Using panel data our study indicates that internal R&D and imported intermediate goods lead to adaptation of more advance technology and hence increasing the value added per unit of inputs and improving the competitive ability of the industry. JEL classification:  O14, O33, F14, C23 Manuscript profile

Open Access Article

26 - Comparing the impact of information and communication technology on employment in Ilam and Lorestan province industries
فرید Sefati

As we know two provinces, Lorestan and Ilam, are as derived provinces in Iran despite their natural resources .on the other hand , today is the world of information technology and communication .according to these conditions, the question is , what is the effect of new More

As we know two provinces, Lorestan and Ilam, are as derived provinces in Iran despite their natural resources .on the other hand , today is the world of information technology and communication .according to these conditions, the question is , what is the effect of new economical achievements on the employment of these two provinces ? this essay has attempted to answer this question .therefore, the purpose of the essay is identifying, considering, comparing and estimating information technology effect on the employment in the industry of Lorestan and Ilam between 1385 and 1386(It is necessary to mention that one of the basic problem in this study I the lack of statistics and information, along with statistics dispersion. Thus,whit great effort only the information of these two years has been collected).this study has been done in a descriptive , analytic and deductive manner .Using econometrics model and panel data has analyzed and compared information technology effect or communication on the employment and demand labor in Lorestan and Ilam .the result shows that information technology has little effect on the job creation in these two provinces ,especially Ilam . The important reason is due the labors knowledge in the industry of these provinces and the lack of necessary infrastructure .generally all the given hypotheses in the study are not accepted. Therefore, information technology and communication don’t have similar effect on the job creation in these two provinces, Thus according to the great effects of knowledge of economics in economics, there is a need invest purposefully in order to achieve goals in these two provinces. Manuscript profile

Open Access Article

27 - The Effect of R & D Expenditure on Economic Growth to Separate Sections of the Investor (Case Study of OIC Countries)
شهرزاد انوشه

In the new literature, Research and Development (R&D) has an important role in economic growth. Specifically, R&D expenditures improve economic growth and fill the gap between growth of production and its factors by decreasing cost and enhancing productivity. R& More

In the new literature, Research and Development (R&D) has an important role in economic growth. Specifically, R&D expenditures improve economic growth and fill the gap between growth of production and its factors by decreasing cost and enhancing productivity. R&D funded by different sectors and insufficient investment in one of them can be a factor for weaker economic growth in developed and developing countries In this paper, we have analyzed the effect of R&D expenditures on economic growth of OIC countries. For this, we have separated investment sectors according to endogenous growth model and then employed panel data method during time period 1998-2009. Based on obtained results, R&D expenditures by government, higher education, non-profit organizations, and business enterprise have positive and significant effect on economic growth.   Manuscript profile

Open Access Article

28 - The effect of exchange rate on export price for the selected countries in south and southeast of Asia
علی امامی میبدی علی اکبر شوره کندی

This paper intends to investigate the effect of exchange rate on export price for the selected countries in south and southeast of Asia .The method used in this study for estimating the relationships between variables is  the fixed effect panel data.  In this More

This paper intends to investigate the effect of exchange rate on export price for the selected countries in south and southeast of Asia .The method used in this study for estimating the relationships between variables is  the fixed effect panel data.  In this research, exchange rate, producer price index have been and import price index used as a regressor for export price and the mentioned variables have been  used as logarithmic in the model. In this research  annual data are used for the  period 1980-2008.  The result of this study shows that, import price index and producers price index have positive effect on export price, but exchange rate has negative effect. Manuscript profile

Open Access Article

29 - Estimating the Tax Capacity of Provinces in the Country
احمد سرلک

The present article tries to estimate the tax capacity of provinces in the Country between 1380-1387 through the application of panel data. The results indicate that the tax capacity of the provinces are not utilized completely. Despite the fact that the ratio of the in More

The present article tries to estimate the tax capacity of provinces in the Country between 1380-1387 through the application of panel data. The results indicate that the tax capacity of the provinces are not utilized completely. Despite the fact that the ratio of the income to tax capacity is smoothly increasing in some provinces of  the country,but in sum the said ratio has a astable trend for all the provinces in general, whose fluctuations are very limited. The limitation of the range of these fluctuations is mostly due to the fact that a higher portion of present tax capacity of provinces in the country is not being used.The gap existing between the tax capacity and collected taxes is mostly observed in direct taxes, especially in the services sector. Estimations also indicate that there is no concerted effort to collect direct  taxes  in the provinces of the country. The gap among indirect taxes is less observable and in all provinces of the country except for the provinces of Tehran and Isfahan, a very low percentage of indirect tax capacity is being utilized.   Manuscript profile

Open Access Article

30 - Illustrating the effects of information and communication technology on production in Mena's region countries with emphasis on Iran
محمدرضا شریف آزاده زهره جمشیدی

During the last two decades, the importance of information andcommunication technology (ICT) in increasing countries theeconomic growth and productivity in different countries  form of inter-country data has been more considered. Most of these studies have consider More

During the last two decades, the importance of information andcommunication technology (ICT) in increasing countries theeconomic growth and productivity in different countries  form of inter-country data has been more considered. Most of these studies have considered the positive impact  of ICT on   economic growth and productivity.Hence, regarding the multiple economic functions  ofICT, the goal of this paper is to study ( the Uhansson-Usilius convergence growth  test ),  using Panal Data method while illustrating in the long-run production in Mena's Countries during 2000-2009 concerning the role of ICT; and also the long term relation between production and communication in Iran using data gathered during 1347-1386. Moreover, through Granger causality test, the existence of causality between ICT and production in mentioned countries and also Iran have been investigated. The results of estimated model in Mena's countries show that all estimated coefficients have the considered signs and are statisticallysignificant. In sample Mena's countries, the production elasticity of ICT, capital, labor and human capital have been respectively estimated approximately 0.0559, 0.2747, 0.467, 0.153. Also, in (R2) there is a one way causality from ICT to production at the significant level of s per cent. The results of estimated model of Iran also show that the related coefficients related to the expendituers of ICT capacity, capital, labor and human capital in long term are respectively 0.07689, 0.4045, 0.1646, 0.14288 and similar to Mena's countries there is a one way causality from ICT to production Manuscript profile

Open Access Article

31 - The Impact of Trade Liberalization on Net Exports (Case Study of Selected countries)
عباس معمارنژاد سمانه سادات عجایبی

Over the past two decades, trade has been an engine of growth and reduction of poverty. Trade liberalization is a dominant process for integration of developing countries into the world economy. Trade liberalization refers to the removal of government incentives and re More

Over the past two decades, trade has been an engine of growth and reduction of poverty. Trade liberalization is a dominant process for integration of developing countries into the world economy. Trade liberalization refers to the removal of government incentives and restrictions from trade between nations. This research studies the impact of trade liberalization on net exports of developing and newly industrialized economies. To accomplish this task, we collected a panel data set of 11 countries over 1999-2006. Our sample includes Iran, Chile, China, Brazil, Turkey, South Korea, Tunisia, Malaysia, Indonesia, India, and Mexico. To test the effects of Terms of Trade, real GDP, and the foreign income on net export, we use the pooled regression model as the baseline for our comparison. For the period of our study, we find strong evidence that trade liberalization leads to higher net exports and overall trade balance. Manuscript profile

Open Access Article

32 - Examining the presence of price bubble in the Iranian housing market using panel data
علی اکبر خسروی&rlm; نژاد فرزانه فتحی

In this paper, an attempt is made to test the hypothesis of existing a price bubble in the Iranian housing market during the years under the study, i.e. 2007-2008. Thus, the long run relationship between housing price and certain fundamental variables of the housing mar More

In this paper, an attempt is made to test the hypothesis of existing a price bubble in the Iranian housing market during the years under the study, i.e. 2007-2008. Thus, the long run relationship between housing price and certain fundamental variables of the housing market has been investigated by utilizing the co-integration method of panel data using the data of different provinces. In this test , besides the housing price and rent, we have specified our model by including the population and household income as the main variables moving the demand for housing which and cost of production of housing and supply of new housing units as variables transferring the housing supply have been considered in order to reflect till to capture the shifting effects of demand and supply curves of housing which have been undergone the co-integration test. However , the results indicate that using the information related to the panel data of different provinces in the country, the long-run relationship between housing prices and fundamental variables in years under the review is valid and the hypothesis of existing the housing price bubble in these years is refuted. Hence, the rise or fall in the housing price in the years under the study can be deemed as severe fluctuations of prices in the housing market and not as bubbles Manuscript profile

Open Access Article

33 - The study of relationship between financial liberalization and economic growth at Middle East and South Africa
مریم خوشنویس اعظم احمدیان فاطمه مهربانی

This paper aims to delineate the dynamics of financial liberalization and economic growth in mena region (Middle East and North Africa) based on data entailing the period of 1996-2007, using group pooled technique. In doing so, the technique has employed some potential More

This paper aims to delineate the dynamics of financial liberalization and economic growth in mena region (Middle East and North Africa) based on data entailing the period of 1996-2007, using group pooled technique. In doing so, the technique has employed some potential and actual indicators of financial liberalization to measure the impact on economic growth of financial liberalization, for example, the flow of foreign direct investment has been used as a proxy for actual financial liberalization index. As such the paper has investigated the casual relation between economic growth and financial development on one hand and that of financial development and financial liberalization on the other hand. The result indicate that in the former case one way relation exist i.e. economic growth exert its impact on financial development but in the latter case no casual relationship has not been noticed. Moreover, it has been found that economic liberalization has rendered a positive impact on economic growth Manuscript profile

Open Access Article

34 - The Impact of ICT on Economic Growth Using ICT Development Index A Case Study of Selected Countries
Taghi Torabi Farzolah Ebrahimi Farhad Ghaffari Karim Emami Jaze Kambiz Peykarjou

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Open Access Article

35 - Evaluating The Impact of Growth Opportunities on Asymmetric Behavior of Costs: Information on Past (historical) Experiences Compared with Prospective Information
Sahar Sepasi Aidin Kiani Vahid Ahmadian

One of the core issues in selecting the cost structure in a range of high adhesion and flexibility is to consider the impact of growth opportunities and demand uncertainty that company faces with them. The purpose of this article is to evaluate the impact of growth expe More

One of the core issues in selecting the cost structure in a range of high adhesion and flexibility is to consider the impact of growth opportunities and demand uncertainty that company faces with them. The purpose of this article is to evaluate the impact of growth expectations on adhesion behavior of the cost of goods sold, sale, public, and official costs, and operational costs of the companies. The results of the regression analysis using pooled data for the years between 2005 and 2014 show that Q Tobin's ratio (prospective information) increases the adhesion of cost of goods sold, but average of sales growth rate (historical data) had no significant impact on adhesion of these types of costs. In addition, both of mentioned ratios (Q Tobin’s and average of sales growth rate) increased the adhesion of operating costs. On the other hand, variables of growth opportunity (historical and prospective) had no significant impact on sale, public and official costs. Based on obtained results, it can be concluded that the impact of growth opportunities on adhesion of sold cost structure related mostly to historical experiences, while adhesion sensitivity of total operating costs depended on both Q Tobin's ratio and average of sales growth rate. Manuscript profile

Open Access Article

36 - Analysis of the relationship between Corporate Governance and Economic Value Added (EVA) in Tehran Stock Exchange
محمد رضا اولی مهدی قائمی اصل سعیده امین زادگان الناز عظیمی

The present study is based on experimental of the relationship between corporategovernance and economic value added With a sample of n = 122 firms listed in Tehran StockExchange during the period 1388 to 1385.The present study is descriptive - analytical studybased on p More

The present study is based on experimental of the relationship between corporategovernance and economic value added With a sample of n = 122 firms listed in Tehran StockExchange during the period 1388 to 1385.The present study is descriptive - analytical studybased on panel data. In analyzing the data stepwise and multiple regression methods wereused and to estimate regression fixed effects, random effects and ordinary least squaresmethods were used. The results indicate that among the five elements of corporate governanceonly institutional investor ownership variable have significant and positive impacts oneconomic value added. Moreover, causality of this variable with economic value added isconfirmed by Granger causality test. Iran Khodro investment in mining and metals andSaipa, respectively, have the highest impact on corporate governance on economic valueadded. Manuscript profile

Open Access Article

37 - Effectiveness of firms leading mechanisms in order to reduce agenty costs
هاشم ولی پور علی خرّم

The relationship between firms leading mechanisms and agency costs in Tehranstock exchange firms was revised in this research. Data was gathered from 51 firmsduring the period of 1380-1387 . for hypothesis testing used panel analysed. Theresults showed that with 95% of More

The relationship between firms leading mechanisms and agency costs in Tehranstock exchange firms was revised in this research. Data was gathered from 51 firmsduring the period of 1380-1387 . for hypothesis testing used panel analysed. Theresults showed that with 95% of confidance there are negative and significant relationbetween percentag by institutional investors, percentage of shares owned bymanagers, percentage of board members of non author and short – term debt to totaldebt ratio and agency cost. The result of this research did not adopt with the firmsdept ratio by agency costs. Manuscript profile

Open Access Article

38 - The effect of social capital on economic growth in the Middle East and North of Africa
زهزا میلا علمی

10.30495/jisds.2007.21205

With the emergence of "new institutionalism" school, the role of institutions and social capital in economic growth and Economic performance has been more attention. In some countries, evidence of Aaron (2000) and Barr (1996 ) Studies showed that the economic growth had More

With the emergence of "new institutionalism" school, the role of institutions and social capital in economic growth and Economic performance has been more attention. In some countries, evidence of Aaron (2000) and Barr (1996 ) Studies showed that the economic growth had effectively been prevented by the weak political institutions and economic institutions. Also, based on the North Institutional idea, the return of political activities are the trust and participation and provider of social capital. Nowadays, the social capital is the main Principle for achieving to high economic growth and development, and it is difficult to access to development and economic growth without social capital.There for, in this study, the effect of social capital along with the physical capital, human capital, openness, the size of Government and the labor force on economic growth are investigated by using a panel data model for the Middle East and North Africa countries over the period 1996-2012. On the base of results, the social capital has a significant positive effect on economic growth. So governments need to pay attention to socio-economic and cultural conditions in favor of social capital formation for achieving economic growth. Manuscript profile

Open Access Article

39 - The effect of social capital on economic growth in the Middle East and North of Africa
Zahra (Mila) Elmi Mahboubeh Gorbani

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Open Access Article

40 - The Impact of Agricultural Development on Different Dimensions of Food Security in Developing Countries
Leyla Heydari Amir Mohammadinejad Seyed Yaghob Zeraatkish Reza Moghaddsi

Abstract Food security is one of the main conditions for the realization of national security and one of important functions of agricultural development. Therefore, the aim of this study is the study of the impact of agricultural development and other macroeconomic vari More

Abstract Food security is one of the main conditions for the realization of national security and one of important functions of agricultural development. Therefore, the aim of this study is the study of the impact of agricultural development and other macroeconomic variables on food security and its sub-indicators (access to food, economic ability to buy food, and food health) in 64 developing countries. For this purpose, the panel data methods, and the data of developing countries in the period 1996-2016 are been used. The results show that agricultural development (the increase in agricultural value added) enhances food security through improving access to food. The GDP have a positive effect on food security so that all three dimensions of food security improved by increasing income. Rising prices will reduce food security by reducing access to food and reducing purchasing power.The urbanization has different effects on the different dimensions of food security but overall reduces food security. Keywords: Access to Food, Agricultural Development, Developing Countries, Food Security, Panel Data. Manuscript profile

Open Access Article

41 - Study of the Relation among Economic Growth, Energy Using and Greenhouse Gas Emissions (Case study: Selected Countries of the OIC)
Mohammadreza Nahidi Amirkhiz Farzad Rahimzadeh siamak shokouhifard

10.22034/jest.2018.24919.3396

Background and Objective: Energy carriers are one of the most important factors in production and accessing to energy resources can smooth countries economic growth and development process. Also, countries inclination in order to achieving higher economic growth has acc More

Background and Objective: Energy carriers are one of the most important factors in production and accessing to energy resources can smooth countries economic growth and development process. Also, countries inclination in order to achieving higher economic growth has accompanied with higher using of energy carriers and has led to emission of Greenhouse gas. This leads to create environmental problems threatening human life. Therefore, studying the relation among economic growth, energy using and Greenhouse gas emissions is of particular importance. Method: Accordingly, the aim of this study is to analysis the interaction among economic growth, energy using and CO2 gas using data from 16 selected countries of the OIC. Findings: The results from estimated model with data panel technique showed that in significant level of 5%, existence the Kuznets inverted U hypothesis is valid in the under-studied countries. Since, the coefficient related to GDP growth variable and its square has positive and negative sign, respectively. Furthermore, the results showed that energy using has statistically positive impact on CO2 gas emission in time period 1995-2015. Discussion and Conclusion: Given the existence of a one-way causality relationship between GDP growth and CO2 emissions, the economic growth in the studied countries has led to an increase in CO2 emissions and as well as the U reverse relation of economic growth and CO2 emissions, so that in the studied countries, by increasing the growth rate, the amount of carbon dioxide emissions will increase as well. After a certain growth rate and passing through it, with higher economic growth CO2 emissions have also declined in these countries, It is recommended that, in view of the high importance of the environment, the environmental authorities and environmental organizations have adopted appropriate environmental laws and regulations, and technologies have progressed towards eco-friendly technologies and cost financing related to changing technology to environmentally friendly technology, as well as paying taxes which taxes to improve the environment. Manuscript profile

Open Access Article

42 - Impact of Renewable Energies on Green Economy
Somayeh Daneshvari Parvaneh Salatin Mohammad khalilzadeh

10.22034/jest.2019.39749.4466

Background and purpose: As the world's population grows and energy resources are limited, all countries face energy problems. The crises that threaten countries and communities are the lack of non-renewable sources of energy (fossil fuels), as well as the increase of en More

Background and purpose: As the world's population grows and energy resources are limited, all countries face energy problems. The crises that threaten countries and communities are the lack of non-renewable sources of energy (fossil fuels), as well as the increase of environmental pollution caused by excessive consumption of fossil fuels which shows the necessities and importance of using renewable energy resources. The close link between the economic and environmental issues has raised new approaches to the field of international environmental law, one of the most prominent of which is the green economy, and since one of the main goals of the green economy is reducing greenhouse gas emissions, the use of renewable energy sources is a quick way to achieve a green economy. In this regard, the main objective of this study is to review the comparative effect of renewable energy on green economy in two groups of selected countries that produce and consume renewable energy with high and middle income. Methodology: This study is an applied research and inferential research method. The method and tool for collecting information and statistical resources are written documents, electronic information and taking notes. Findings: The results of model estimation in the selected countries with Fixed Effects Method during the period of 2005-2016 showed that the use of renewable energy has a negative and significant effect on carbon dioxide emissions as an indicator of the green economy in the selected countries. Also, the effect of renewable energy on the green economy in the group of selected middle income countries is higher than that of high-income countries. Other results showed that economic growth and openness had a positive and significant impact, human capital, ICT and rule of law had a negative and significant impact on carbon dioxide emissions as an indicator of green economy in the group of selected countries. Discussion and Conclusion: Renewable energies are clean, abundant and reliable and if properly developed, can play a significant role in achieving sustainable development goals as sustainable sources of energy. The main reason for the emphasis on the use of renewable energies, in addition to helping to solve environmental problems and preventing the loss of fossil fuels, is the conservation of natural resources for future generations, which undoubtedly renewable energy, given their simplicity of technology, plays a significant role in the green economy and sustainable economic development. Manuscript profile

Open Access Article

43 - Effects of Global Warming and Climate Changes on Economic Growth (Case Study: Iran provinces during 2002-2012)
Hossein panahi Najmeh Esmaeel Darjani

10.30495/jest.2020.22073.3114

Background and Objective: Global warming and climate changes are currently one of the most important environmental challenges in the world, which are the consequences of rising temperatures, melting polar ice caps, rising free water levels and changes in climate thresho More

Background and Objective: Global warming and climate changes are currently one of the most important environmental challenges in the world, which are the consequences of rising temperatures, melting polar ice caps, rising free water levels and changes in climate thresholds.Method: The present paper has studied temperature and rain effects as climate changes and global warming on real economic growth by using panel data method in provinces in the period of 2002 to 2012.Findings: Climate change affects the economic sectors of the country and this impact on the sectors that are more interrelated with the agricultural sector. It is noteworthy that due to temperature and precipitation trends in recent years in the provinces of Iran, which do not show a favorable trend.Discussion and Conclusion: The results show that air temperature has a negative relationship with economic growth and is significant at the level of 5% and the amount of precipitation shows a positive and significant relationship at the level of 5% with the economic growth variable. With increasing global warming and climate changes, the economic growth of Iran's provinces is declining. Manuscript profile

Open Access Article

44 - Evaluating the effects of energy and economic growth on Carbon dioxide emission (using spatial panel data)
hedayat hossinzadeh mehdi moradi

10.30495/jest.2019.40523.4494

Background and Objective: Energy is one of the most important inputs in production. Energy usage and energy diffusion of fossil fuels in process of production cause greenhouse gases (CO2) emission and destruction of environment. According to the importance of issues lik More

Background and Objective: Energy is one of the most important inputs in production. Energy usage and energy diffusion of fossil fuels in process of production cause greenhouse gases (CO2) emission and destruction of environment. According to the importance of issues like energy usage and economic growth, this paper, concerning the effects of proximity, evaluates the effects of energy usage and economic growth on emission of Carbon dioxide (CO2) in MENA Zone countries during the period of 1994-2013. In every country, greenhouse gases (CO2) emission is the function of not only domestic factors but also economic activities of neighboring countries. Material and Methodology: In order to investigate the impact of energy consumption, economic growth and carbon dioxide emissions in the Middle East and North Africa, LM test was used to examine the spatial dependence between variables and then the research model was estimated using the spatial panel data approach.Findings: The results of the model estimation indicate that proximity effect is verified in the model studying on. Also, the results show that log variable of energy usage has positive and significant effect on CO2 emission. Log variable of income per capita affects CO2 emission positively and significantly, and square log variable of per capita income has negative and significant effect on dependent variable.Discussion and Conclusion: Based on the research results, the environmental hypothesis of Kuznets is accepted for the studied countries. Therefore, reducing energy consumption can be suggested as a way to reduce pollution. Taking into account the effect of technology, two strategies can be proposed: firstly, the improvement of the technology of using fossil energies to increase energy efficiency and reduce pollution, and secondly, the use of renewable energy carriers and clean fuels. Manuscript profile

Open Access Article

45 - Investigating the impact of nanotechnology on environment
Maryam Lashkarizadeh Maryam eshaghi

10.22034/jest.2017.10308

Background and Objective: In recent decades, nanotechnology has affected different aspects of human being life. This technology has various impacts on economics, production and subsequently environment of each country. Nanotechnology could have both positive and negat More

Background and Objective: In recent decades, nanotechnology has affected different aspects of human being life. This technology has various impacts on economics, production and subsequently environment of each country. Nanotechnology could have both positive and negative impacts on environment. The use of this technology reduces the energy consumption, production of by products and greenhouse gas emission. However, nanoparticles might increase the growth of bacteria which is a threat for both environment and public health. Methods: In the current study using panel data method, the impact of nanotechnology on environment in both developed and developing countries (such as Iran) for a period of 13 years (1997 to 2010) is investigated. Findings: The results indicated that using nanotechnology in developed countries mitigated the impacts of increased pollution, as a result of economic growth, industrial and population growth on environment; however, in developing countries using this technology did not have significant impacts on environment Discussion and Counclusion: Due to the significant positive impact and nanotechnology in reducing the pollutants in developed countries can be concluded so what developing countries will also be given to the importance of nanotechnology can be effective in reducing air pollution. Manuscript profile

Open Access Article

46 - The Effect of Informal Economic activities on Air Pollution Index (Environmental Kuznets Curve Estimation)
Amir Hossein Mozayani Niloofar Morad hasel

Decomposition of economic activities to formal and informal, the formal activities are those whichmonitored by official data and on the other hand the informal economic activities are those that aren'treflected through official statistics. They aren't transparent as muc More

Decomposition of economic activities to formal and informal, the formal activities are those whichmonitored by official data and on the other hand the informal economic activities are those that aren'treflected through official statistics. They aren't transparent as much to be traced by authorities in spitetheir considerable volume. One of the main reasons that economic agents prefer to transform theirbusiness to informal part of economy is to avoid regulations such as: tax, duties, standards and etc.One of the main features of these regulations is environmental consideration (e.g. environmental taxand standards) which is sensibly important for industries. Especially for pollutant ones which areusually behave unofficially and their activities have much more degrading effects on environment.We are to study the effect of informal economic activities on environmental quality a cross countryapproach. We used a basic Kuznets model through panel data technique for 140 countries. The resultimplies a considerable impact of informal activities on environment not only in high income countriesbut in low and middle ones. Manuscript profile

Open Access Article

47 - The Effect of Urbanization on Carbon Dioxide Emissions in the OIC Member States (Application of STIRPAT Model)
Hossein Panahi Behzad Salmani Seyed Ali Aleemran

10.22034/jest.2017.10629

Background and Objective: Although urbanization is often discussed in the context of economic modernization, however, it is a demographic indicator that increases urban density and transforms the organization of human behavior and thereby influences household energy use More

Background and Objective: Although urbanization is often discussed in the context of economic modernization, however, it is a demographic indicator that increases urban density and transforms the organization of human behavior and thereby influences household energy use patterns. Accordingly, using panel data approach and STIRPAT mode, this study examines the effect of urbanization on carbon dioxide emission in the Organization of Islamic Cooperation member states. Methods: This research is doing a causal-analysis by using panel data over the period of 2000 to 2010 for the 4-3 selected Organization of Islamic Cooperation countries. Findings: Our results indicate that, coefficient of all variable of the model has been expected based on theoretical and are statistically significant. So that, one percent increase in urbanization, Gross Domestic Product per capita and energy intensity, rises carbon dioxide emissions  by 0.57, 0.74 and 0.55 percent  respectively. Discussion and Conclusion: Given the positive impact of urbanization, Gross Domestic Product per capita and energy intensity variables on carbon dioxide emissions, it is recommended that the Organization of Islamic Cooperation members, reduce air pollution and carbon dioxide emissions through optimizing energy consumption and increasing the usage of new energy source, that generate less pollution and efficient energy consumption in the production and promotion of production energy and technology distribution in countries, realization the price of energy, promotion the technical and environmental standards of industrial production, increasing energy efficiency and expanding environment cultural and providing appropriate substrates and rural development. Manuscript profile

Open Access Article

48 - Investigating the effect of economic policies of government on environmental quality in elected countries
MohammadReza Shahab Seyede Marvehi NaserSadrabad

Introduction:The process of economic development and set of economic policies in recent decades have changedthe environmental challenges to one of the most important concerns of policy makers. Therefore,investigating the role and impact of the economic policies of the g More

Introduction:The process of economic development and set of economic policies in recent decades have changedthe environmental challenges to one of the most important concerns of policy makers. Therefore,investigating the role and impact of the economic policies of the government on environmental qualitycan be very important.Material and Methods:In this study, the effect of government’s policies on environmental quality in 7 countries of Iran,Syria, Algeria, Egypt, Jordan, Morocco and Tunisia in the Middle East and North of Africa (MENA)during 2007-1997 was investigated in the form of econometric models using panel data. Theenvironmental quality, based on the amount of air pollutants as one of the important indicators ofenvironmental pollution, was studied, and carbon dioxide emission and aerosols concentration wereconsidered as the variables indicative of air pollution.Results and discussion:The results show that depending on the type of index selected for the environmental quality,government's economic policies can have a direct and positive relationship with air pollutants. Indeed,the findings emphasize that investment of government is an important and influential variable indetermining the amount of carbon dioxide emissions in the studied countries, and has put a positiveimpact on increase of carbon dioxide emissions. However, this result is not confirmed in the case ofaerosols. Manuscript profile

Open Access Article

49 - Study of Good Governance Effect on Environment Quality Index in Selected Developing Countries
Sadaf Ahmadi Niyaz reza zeinalzadeh Ali Raeispour rajabali

10.22034/jest.2019.13709

Background and Objective: Considering the importance of environmental degradation and pollution problems all countries attempt to schematize and apply appropriate procedures to achieve their economical goal and mimimize the environmental destructions. Environmental degr More

Background and Objective: Considering the importance of environmental degradation and pollution problems all countries attempt to schematize and apply appropriate procedures to achieve their economical goal and mimimize the environmental destructions. Environmental degradation and environment quality are affected by many factors. The aim of this study is to investigate the effect of good governance indexes on environment quality in some selected developing countries. Method: Using the panel data model during 2000-2010, the impact of good governance on environmental quality in developing countries was examined by a series of related variables. Findings: The results showed that the mean good governance indexes has a direct and significant effect on the environment quality. Indeed, improvement of good governance index reduced the environmental degradation and increased the environment quality. Per capita gross domestic production and trade have a positive and significant effect on the environment quality. On the other hand, per capita energy consumption and foreign direct (FDI) investment affected the environment quality negatively, though the effect of FDI was not statistically significant. Discussion and Conclusion: Thus improvement of good governance can increase the environment quality in developing countries Manuscript profile

Open Access Article

50 - The Effect of Good Governance on the Environment in Middle-Income Countries
Saeed Alizade Maryam Bayat

Background and Objective: In recent years, good governance has been considered by the political and economic decision-makers as one of the factors affecting the environmental variables. This study aims to assess the environmental variables affecting middle-income countr More

Background and Objective: In recent years, good governance has been considered by the political and economic decision-makers as one of the factors affecting the environmental variables. This study aims to assess the environmental variables affecting middle-income countries. Method: In this study, using the method panel data, the effect of good governance on Co2 gas emissions (which is considered as an indicator of environmental quality) has been tested in middle-income countries between the years 2000-2011. Results: According to the results, estimate of governance indicator (governance indicators) which shows the quality of public institutions and power of nations in fulfilling their duties, can affect the amount of co2 emissions which represent the state of the environment. Conclusion: The reslults represent a 1% improvement in good governance and 0.03% reduction in weight of carbon dioxide emissions. Manuscript profile

Open Access Article

51 - Investigating the Impact of Stock Market Liquidity on Income Distribution (Selected from Developing and Developing Countries)
zeynab moridi shahram fatahi Kiomars Sohaili

Fair distribution of income is one of the concerns of policymakers in developing and developed countries, and despite the economic growth of world countries and the implementation of various policies to combat it, remains one of the most important goals of economic poli More

Fair distribution of income is one of the concerns of policymakers in developing and developed countries, and despite the economic growth of world countries and the implementation of various policies to combat it, remains one of the most important goals of economic policymakers in the world. One of the important and influential factors in any society for econoears. Capital market liquidity enables long-term investment by raising small and large funds and providing them to business owners, so stock market liquidity can be a good platform for attracting micro and large capital by reducing the risk of liquidity.According to macroeconomic theories, capital accumulation resulting from capital market liquidity is one of the conditions for economic growth, thereby increasing the income of those who are risk averse and more willing to invest in the stock market and those who are risk averse. And it relies solely on wages and salaries from work The results show that liquidity of the stock market as a financial market increases income inequality and in developed countries and decreases income inequality and increases in developing countries. Manuscript profile

Open Access Article

52 - Measuring systemic risk and the effect of fundamental variables on it in the country's banking system
leila barati Mirfaiz Falah Shams Farhad Ghafari Alireza Heidarzadeh Hanzaei

The purpose of this article was to measure systemic risk and the impact of fundamental variables on it in the country's banking system. In this regard, information from the period of 2010-2019 was used. In the first part, systemic risk indicators were estimated, then th More

The purpose of this article was to measure systemic risk and the impact of fundamental variables on it in the country's banking system. In this regard, information from the period of 2010-2019 was used. In the first part, systemic risk indicators were estimated, then the impact of the fundamental variables of the country's banking system and financial stability was evaluated. In order to estimate the model, the final expected deficit method (MES) and panel data were used. The systemic risk index in this research is obtained from the calculation of the degree of leverage (debt size), market size and expected final deficit (MES) in order to finally be able to model the factors affecting it.In this research, first of all, different types of systemic risk assessment models have been evaluated according to the forecast error, and then, with the better selected model, the relationship between systemic risk and the important ratios of the country's banking system has been evaluated. The results showed that there is a significant positive relationship between independent variables such as inflation rate, external debt, government debt, liquidity growth, non-current facility rate, debt ratio and the ratio of book value of equity to market value, and independent variables such as profitability There is a significant negative relationship between the total index of the stock exchange, the growth rate of GDP and return on assets with the systemic risk index among the country's banking system. Manuscript profile

Open Access Article

53 - Investigating and measuring the factors affecting the efficiency indicators of technical analysis in the Iranian stock market;Generalized Torque Model (GMM) approach
hamed tavakolipour faegh ahmadi bihan abidini Mohammad Hossein Ranjbar

AbstractUndoubtedly, profit forecasting, which may be done technically or fundamentally, will be applicable when it is highly efficient. The required data were collected using the sampling method for 323 companies listed on the Tehran Stock Exchange on a monthly basis d More

AbstractUndoubtedly, profit forecasting, which may be done technically or fundamentally, will be applicable when it is highly efficient. The required data were collected using the sampling method for 323 companies listed on the Tehran Stock Exchange on a monthly basis during the period 2013-2019. In addition, static software and dynamic panel data model (GMM) were used to analyze the data. The results showed that company size and corporate governance indicators did not have a significant effect on technical analysis performance indicators. In addition, financial leverage does not have a significant effect on RSI and MACD and has a significant inverse effect on MA1 and MA2. On the other hand, return on assets has a significant inverse effect on RSI and has a significant positive effect on MA1, MA2 and MACD. Also, recession and economic prosperity do not have a significant effect on RSI and MACD and have a significant inverse effect on MA1 and MA2. In addition, inflation fluctuations, exchange rate fluctuations and systemic risk have a significant positive effect on RSI and have a significant inverse effect on MA1, MA2 and MACD. Then, the accuracy of predicting the performance indicators of technical analysis in the form of three scenarios was assessed. The results showed that the accuracy of predicting the performance indicators of technical analysis in the Iranian stock market is appropriate for the studied scenarios. Manuscript profile

Open Access Article

54 - Designing Investment conditions uncertainty index
Ezatollah Abbasian Tahmaseb Mazaheri Saied Sehhat Mehri Akbari

Economic uncertainty and foreign investment have always been the focus of researchers, policymakers and investors, but what has been overlooked is the measurement of economic uncertainty with a focus on foreign investment. Therefor the purpose of this study is to design More

Economic uncertainty and foreign investment have always been the focus of researchers, policymakers and investors, but what has been overlooked is the measurement of economic uncertainty with a focus on foreign investment. Therefor the purpose of this study is to design an investment conditions uncertainty index by identifying the economic factors affecting FDI inflows in the largest owners of gas reserves including. For this purpose, first the economic variables affecting foreign direct investment are modeled and identified using annual data from 1997 to 2017 of Russia, Iran and Qatar and the Feasible Generalized Least Squares method in the data panel. According to the results, GDP growth, inflation, real interest rate, stock market capitalization and trade openness have significant effect on foreign direct investment. After identifying influential variables, using monthly and seasonal data for the maximum available time period, after estimating the types of GARCH models and determining the optimal model for each variable, the optimal criterion of their fluctuations is calculated. Finally, using the obtained criteria and weighting based on the results of the panel model, Investment conditions uncertainty index for each country is constructed. According to the results, Trend of mentioned index clearly shows the fluctuations due to economic changes in different countries and its compliance with macroeconomic, monetary and fiscal policies adopted by governments, so that, it can be a useful guide for our country's policymakers, It also provides an appropriate scale for assessing the uncertainty of countries by policymakers, investors and researchers at macro and micro level. Manuscript profile

Open Access Article

55 - The role of management's expected profit on the investment efficiency in stock market
Yazdan Gudarzi Farahani leila barati

The purpose of this article was the role of management's expected profit on the investment efficiency of companies listed on the Tehran Stock Exchange. The literature shows that with increasing accuracy of expected profits, investment efficiency increases and abnormal i More

The purpose of this article was the role of management's expected profit on the investment efficiency of companies listed on the Tehran Stock Exchange. The literature shows that with increasing accuracy of expected profits, investment efficiency increases and abnormal investment decreases. The present study was reviewed among 457 companies listed on the Tehran Stock Exchange in the period 2013-2021. In order to analyze the relationship between variables, the panel data method has been used. The results of this study showed how the expected profit of management, which is estimated under the direction of management expectations, affects investment efficiency. The effect of expected profits on abnormal investment through underinvestment and overinvestment was also examined. The results showed that the expected profit of management had a significant effect on under-investment and over-investment variable. Manuscript profile

Open Access Article

56 - Introducing Early Warning System for Solvency of Iranian Insurance Companies, Using Pane data method
Mahmoud Haghverdilou Kambiz Peykarjou gholam reza zomorodianS

Financial solvency is one of the essential components that illustrates financial status of a financial enterprise, at large, or an insurance company to be specific. In addition to solvency ratio, other metrics and indices are also early warning indicators of an upcoming More

Financial solvency is one of the essential components that illustrates financial status of a financial enterprise, at large, or an insurance company to be specific. In addition to solvency ratio, other metrics and indices are also early warning indicators of an upcoming crisis in insurance industry. Therefore, the main purpose of the present paper is to provide a model for an early warning system of solvency for insurance companies and Iranian insurance companies in particular. To this end, a number of indexes and ratios, as independent variables affecting solvency, are selected and classified as economic, corporate, and corporate governance, that distinct this article from other studies. In this respect, the empirical model of research was estimated by econometric method of panel data for 18 Iranian companies during 1387-1396. The results of the research depict that interest rates with one-period delay and the change in board of directors have the most and the least impact on Iranian insurers’ solvency, respectively. Also, due to its cube strength, the impact of loss ratio differs in various quantities. Moreover, all hypotheses that are based on meaningful impact of variables on financial solvency of Iranian insurers are verified; including macroeconomic (inflation rate with one delay), interest rate (with one delay), economic growth (with one delay), corporate variables (ratio of investments in risky assets to all assets), loss ratio, the Herfindahl–Hirschman Index, and corporate governance (percentage of major shareholder’s ownership and change in board of directors) along with international economic sanctions. Manuscript profile

Open Access Article

57 - Modeling The Effective variables on investment efficiency: evidence from Tehran Stock Exchange.
Zahra Tahmooresi qodratallah talebnia Rasoul Baradaran Hassanzadeh Nemat Allah Mousavi hamidreza vakilifard

The main aim of this study is to present a pattern for determining and measuring investment efficiency in accordance with the market conditions of Iran. To do so, studying previous studies and thematic literature, 17 variables were identified to present an optimal inves More

The main aim of this study is to present a pattern for determining and measuring investment efficiency in accordance with the market conditions of Iran. To do so, studying previous studies and thematic literature, 17 variables were identified to present an optimal investment efficiency model. Using panel data and the use of eviews9 & stata 14 software, it was suggested to provide a concrete investment efficiency pattern based on the cash flow of investment activities was undertaken. The statistical population of this study includes 129 companies listed on the stock exchange during the time period of 2007- 2016. Finally, the final model of the research, with the abbreviation title of (ineff) and the participation of 11 variables including company size, leverage, company's age, Qtubin, sales growth, return on assets, ratio of operating profit to assets, ratio of operating cash flow to assets, liquidity ratio, standard deviation of operating cash flows and cash ratio with a coefficient of 45% was estimated Manuscript profile

Open Access Article

58 - The day of the week effect on the stock market return in the stock exchange of Tehran
Farshad Heybati Mahboobeh Behfar

This thesis investigates the day of the week effect in TSE. The day of the week effect is calendar anomaly that has been widely studied and documented in finance literature. This anomaly indicates the repetitive trends or patterns in the time series behavior of stock ma More

This thesis investigates the day of the week effect in TSE. The day of the week effect is calendar anomaly that has been widely studied and documented in finance literature. This anomaly indicates the repetitive trends or patterns in the time series behavior of stock market. In this study various indexes of TSE for the period of 1385 - 1388 are examined to specify the probable pattern in trading days of TSE in term of return. Furthermore in this study the daily correlation between main variable of this study are examined. Various descriptive statistics for the sample are calculated and classified in this research and show obvious differences in the days of the week. The results of testing in term of compare the day of the week effect in TSE for return are accepted. This study finds that the highest return is occurred in Wednesday. The implicit results of this research are the negative risk premium for major indexes of TSE. Manuscript profile

Open Access Article

59 - The relationships between market beta with macroeconomic variables and accounting information
Ali Rahmani Kambiz Peikarjoo Mansoureh Azizi

An empirical analysis is carried out establishing the existent relationship among the stock market (Beta) and (a) macroeconomic and (b) accounting informations. Regression analysis, using static and dynamic panel data estimations, is applied to a sample of 61 listed Ira More

An empirical analysis is carried out establishing the existent relationship among the stock market (Beta) and (a) macroeconomic and (b) accounting informations. Regression analysis, using static and dynamic panel data estimations, is applied to a sample of 61 listed Iranian firms, between 2001and 2010. Systematic risk is estimated through OLS, EGARCH and M-GARCH models and use TEDPIX index (Tehran Stock Exchange Dividend & Price "total return" Index) as market portfolio. The results show a connection between the systematic risk and the independent variables. The best models are found when we estimate the systematic risk using EGARCH model and applying a combination of macroeconomic and accounting  variables. The most important variables explaining the systematic risk are Size (SZ), Growth Rate (GR) and Debt Ratio (DR) from accounting variables and Gross Domestic Product (GDPI),inflation (Change in CPI index), Legal interest rate (LINT), Oil price (Oilprice) and Exchange rate (EXCR). The results vary using different models and might be different if we use a different sample. Manuscript profile

Open Access Article

60 - The Relationship between Tax Evasion and Future Stock Price Crash Risk: Evidence from Companies Listed in Tehran Stock Exchange (TSE)
Mahdi Moradi Mohammadali Bagherpour Velashani Amin Rostami

In this study, the relationship between tax evasion and future stock price crash risk of Companies listed in Tehran stock exchange (TSE), based on data from 70 companies during the years 2005-2012 is examined. To do this, two hypothesis were specified. The statistical m More

In this study, the relationship between tax evasion and future stock price crash risk of Companies listed in Tehran stock exchange (TSE), based on data from 70 companies during the years 2005-2012 is examined. To do this, two hypothesis were specified. The statistical methods used in testing hypotheses are logistic and panel data regression. Findings show that tax evasion is positively associated with future stock price crash risk. This finding is consistent with the following view: Tax avoidance facilitates managerial rent extraction and bad news hoarding activities. The hoarding and accumulation of bad news for extended periods lead to stock price crashes when the accumulated hidden bad news crosses a tipping point, and thus comes out all at once. Moreover, the second hypothesis, the positive relation between tax evasion and crash risk is attenuated when firms have strong external monitoring mechanisms such as institutional investors and non executive directors, was not approved. Manuscript profile

Open Access Article

61 - Investigation of Relationship between Corporate Governance and Cash Flow with Firms’ Investment Efficiency
Samaneh sadat Salavati Abdorreza Asadi

Investment in different activities has been considered by the company as of ways corporate development and avoid recession. The aim of this study is investigate the relationship between free cash flow and corporate governance with their efficiency investments. Therefore More

Investment in different activities has been considered by the company as of ways corporate development and avoid recession. The aim of this study is investigate the relationship between free cash flow and corporate governance with their efficiency investments. Therefore, free cash flow and corporate governance are known as the independent variable that mean of corporate governance is required of members, ownership concentration and the proportion of institutional ownership. The data of 131 companies listed in Tehran Stock Exchange during the period 2010-2014 analysis by using panel data and regression multivariate was in Eviews software. A model was developed in order to test the hypothesis, according to the hypotheses. This model evaluated relationship between the excess cash and corporate governance by investment efficiency. The results of the test model showed that free cash flow did not effect on the investment efficiency but corporate governance has a significant impact on investment efficiency.   Manuscript profile

Open Access Article

62 - Investigation of Economic Effects of Energy Carriers Price Increases on the Composition of Consumption Expenditures of Urban Households
Seed Mohamad Mehdi Ahmadi Jamshid Pajhuyan

The main purpose of this paper is to investigate the effects of energy carriers price increases on composition of consumption expenditures of urban households using Almost Ideal Demand System(AIDS). For this purpose, initially seven groups of goods and services includin More

The main purpose of this paper is to investigate the effects of energy carriers price increases on composition of consumption expenditures of urban households using Almost Ideal Demand System(AIDS). For this purpose, initially seven groups of goods and services including: food and beverage portion, shoes and clothing, transport, communication, hotels and restaurants, water, electricity, gas and other fuels, and other groups is estimated by applying seemingly unrelated regression method and data years of 1380-1389 for 10 cost deciles.Then, the average share of the groups for the years 1390 to 1392 by considering two scenarios increased by 20 and 38% of the price of water, electricity, gas and other fuels as a proxy for energy carriers is predicted. Our results indicate that despite the change in the share of each group of goods based on these two scenarios, but this does not shift in consumer preferences or combined groups of urban households in different deciles. Manuscript profile

Open Access Article

63 - The effect of financial markets on environmental quality
parvaneh salatin Azar ebrahimian kafshay

Background and Purpose: In the process of financial development, the mobilization and allocation of funds are done with higher quality and efficiency. Meanwhile, the financing of various projects including environmental projects is possible with greater ease and lower c More

Background and Purpose: In the process of financial development, the mobilization and allocation of funds are done with higher quality and efficiency. Meanwhile, the financing of various projects including environmental projects is possible with greater ease and lower cost. Financial development provides the possibility of attracting foreign investments coupled with lower pollution by providing financial resources required to perform advanced and equipped research and development units as well as the access to more efficient and eco-friendly technologies that require more financial resources. On the other hand, developed countries tend to implement their polluting industries to countries which have lower environmental standards. This direct foreign investment results in enhancement of pollution level in developing countries. In this regard, the main objective of this article is to investigate the effect of financial markets on air pollution as an indicator of the quality of the environment in the group of selected middle income countries.Methodology: The present study is an applied, causal and deductive research. Data and information collection methods include documents review, digital information and note-taking system.Results: In this regard, the main aim of this study is effectiveness of financial markets on environmental quality in middle income countries. The results were obtained from the estimate model by using the fixed effects method in selected countries within the time period 2000-2015. Domestic credit granted to the private sector (% of GDP) as an indicator of the money market and the ratio of traded shares to the stock market trading volume as an indicator of the capital market have a positive and meaningful impact on co2 emission in middle-income countries. The effectiveness of domestic credit granted to the private sector (% of GDP) on co2 emission is higher than the ratio of traded shares to the stock market trading volume in middle-income countries. Manuscript profile

Open Access Article

64 - Nuclear energy and Environmental Quality Approach to Data Integration
parvaneh salatin Niloufar Ghaffari Somea

In recent decades, demand for energy to achieve economic growth has increased, and accessible resources, especially resources of fossil fuels, have sharply decreased. Uncontrolled and ever-increasing consumption of various energy carriers such as oil, gas, and coal has More

In recent decades, demand for energy to achieve economic growth has increased, and accessible resources, especially resources of fossil fuels, have sharply decreased. Uncontrolled and ever-increasing consumption of various energy carriers such as oil, gas, and coal has more than ever attracted the attention of countries to two important issues, namely non-renewability of fossil fuels and environmental pollution. Thus, one of the most important priorities in energy policies is diversification of energy resources and also finding an energy resource which is safe, cheap and free of greenhouse gases. Nuclear energy, therefore, is important. In this regard, the main objective of this paper is analyzing the effect of nuclear energy consumption on environmental quality in the set of selected countries. This is an applied research by objective, a causal research by study method, and an inferential research by methodology. Results from model estimation by the method of fixed effects in the selected countries in the 2004-2014 period show that nuclear energy consumption has a negative and meaningful effect on CO2 emission as an indicator of environmental quality.     Manuscript profile

Open Access Article

65 - Evaluating the Relationship between Air Pollution and Economic Growth Based on Kuznets' Environmental Curve Hypothesis (Case Study: Asian Countries)
Iman danaeifar

One of the important, substantial and significant issues in recent decades has been the issue of economic growth and the preservation of environmental quality in human societies. Although humanity has long been aware of the importance of the environment in its life, the More

One of the important, substantial and significant issues in recent decades has been the issue of economic growth and the preservation of environmental quality in human societies. Although humanity has long been aware of the importance of the environment in its life, the last decades of the twentieth century should be regarded as the culmination for the environmental issues. In this study, the relationship between air pollution and economic growth for 12 Asian countries during the period 1990 to 2015, with an emphasis on the Kuznets environmental curve has been investigated using panel data. The Research results indicate that per capita GDP, annual growth of urban population and energy consumption of fossil fuels have a positive and significant effect on per capita carbon dioxide emissions, and also the squared per capita GDP has a negative and significant effect on per capita carbon dioxide emissions. Therefore, according to the results of the research, Kuznets' environmental hypothesis is true in these countries. Manuscript profile

Open Access Article

66 - Impact of human capital on environmental quality
Parvaneh Salatin Niloufar ghaffari somea

  Impact of human capital on environmental quality   Parvaneh Salatin[1]*(Corresponding Author) p_salatin@iauec.ac.ir                        &nbs More

  Impact of human capital on environmental quality   Parvaneh Salatin[1]*(Corresponding Author) p_salatin@iauec.ac.ir                                                        Niloufar ghaffari somea[2]   Abstract Environment has been one of the most crucial and important concerns of the human societies during the last few decades up to the present time. Therefore, much attention has been paid to environmental problems in recent years, especially to the problem of air pollution. Air pollution in many major cities in the world is so serious that it has compelled the governments to implement short-term and long-term programs and policies. In this regard, the main objective of this paper is to analyze the effect of human capital on CO2 emission as an indicator of environmental quality in selected countries with average income. This is an applied research by objective, a causal research by study method, and an inferential research by methodology. To analyze the effect of human capital on environmental quality in selected countries with average income, CO2 emission has been selected out of the indicators of environmental quality. Results from model estimation by the Fixed Effects Method and the Method of Generalized Moments in selected countries in the 1998-2013 period show that human capital have a negative and meaningful effect on CO2 emission as an indicator of environmental quality. [1]- Department of Economics, Firoozkooh Branch, Islamic Azad University, Firoozkooh, Iran. *(Corresponding Author). [2] - Department of Industrial  engineering, Science and Research Branch, Islamic Azad University, Tehran, Iran. Manuscript profile

Open Access Article

67 - The Effect of Water Pollution on Health Economics: A Panel Data Approach
Parvaneh Salatin Saeed Tajik

Water pollution is chemical, biological, microbic pollution, and pollution by waste materials in lakes, rivers, oceans and underground waters. Pollutants that cause water pollution include a wide range of chemical materials, pathogens, sensory and physical changes like More

Water pollution is chemical, biological, microbic pollution, and pollution by waste materials in lakes, rivers, oceans and underground waters. Pollutants that cause water pollution include a wide range of chemical materials, pathogens, sensory and physical changes like increase in temperature and changes in color. Water pollution, whether biological, that is due to the existence of pathogenic microbes, or chemical, that is due to the existence of polluting chemical materials, causes many illnesses and several disorders to individual or public health. Therefore, the main purpose of this article investigation is the impact of water pollution on death rate and Health Expenditure as indicators of health economics in a the selected European countries. This article is an applied research, causal and inferential research by methodology. The results of the estimation models using Fixed Effect shows that water pollution has a significant and positive effect on death rate and Health Expenditure as indicators of health economics in the selected countries.  The scarcity of water resources and their pollution is an alarm call indicating the shortage of healthy water resources in the future. To counter this crisis, water consumption management is the best option Manuscript profile

Open Access Article

68 - Application of HS Meta-heuristic Algorithm in Designing a Mathematical Model for Forecasting P/E in the Panel Data Approach
Mozhgan Safa Hossein Panahian

10.22034/amfa.2018.539132

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Open Access Article

69 - بررسیبرآورد تابع تقاضای مصرف گازدر کشورهای مختلف توسعه یافته با استفاده از روشPANEL DATA
محمد خلیلزاده البرز حاجی خانی

Manuscript profile

Open Access Article

70 - The Effect of Economic and Social Factors on Life Insurance Demand in Iran and Commonwealth of Independent States (CIS)
Hedayat Hosseinzadeh

  Nowadays life Insurance is one of the most important economic tools and it has several applications the most important role of it is securing the future of the family. Also life insurance is known as one of the major sources of funds and its saving role is more More

  Nowadays life Insurance is one of the most important economic tools and it has several applications the most important role of it is securing the future of the family. Also life insurance is known as one of the major sources of funds and its saving role is more prominent. The aim of this study was to investigate the effect of social and economic factors (per capita income, inflation, interest rates, financial development, dependency ratio, education and life expectancy) on life insurance demand in Iran and CIS countries over the period 2001-2009 using the Panel data.  Research findings show that per capita income levels, interest rates, the level of financial development, education and life expectancy are the most important factors affecting the demand for life insurance. In this regard, the young dependency ratio has an inverse relationship with the demand for life insurance. Manuscript profile

Open Access Article

71 - The Effects of Internal R&D Expenditures and Intermediate - Capital Imports on Productivity and Value Added in Iranian Provincial Industries
Manijeh Taghilou Barzelaghi Gholamhosein Rahnomay Garamaleki Monere Dezaji

The gap in industrial indices among the provinces of the country and their unbalanced trend of economic growth and development requires, more than ever, considering the abilities and potentials of each region. Accordingly, research and development and intermediate &ndas More

The gap in industrial indices among the provinces of the country and their unbalanced trend of economic growth and development requires, more than ever, considering the abilities and potentials of each region. Accordingly, research and development and intermediate – capital imports lead to the harmonious and dynamic growth of all regions and increase their industries’ competitive ability through technology improvement. Thus, this study investigated the effect of internal R&D expenditures and capital-intermediate imports on the productivity of Iranian industries over the period 1995-2008. For this purpose, total factor productivity function and production function were estimated by applying panel data approach. The results indicated that internal R&D expenditures and capital-intermediate imports had a significant positive effect on the productivity and value added of Iranian industries during the mentioned period. Therefore, the research recommends that the government support R&D efforts of industries in order to improve their technology and production methods and provide their access to modern technologies of the world through import. Manuscript profile

Open Access Article

72 - The relation between hygiene and labor productivity Developing Countries
Alireza jor jor zadeh Shaghayegh Khari Azad Mehdi Basirat

Investment in human resources and improving its quality play eassential role in increasing productivity and accelerating economic growth. In this regard, one of the ways of increasing human capital is promoting the level of hygiene and health of the work-force. The effe More

Investment in human resources and improving its quality play eassential role in increasing productivity and accelerating economic growth. In this regard, one of the ways of increasing human capital is promoting the level of hygiene and health of the work-force. The effect of this study, the impact of adult male mortality rate and health expenditures are considered and examined as health indicators that affect the labor productivity. The findings of the research using panel data for 17 developing countries during the period between 1992 and 2012 show that the mortality rate of adult men has negative impact on health expenditure and a positive impact on labor productivity. Manuscript profile

Open Access Article

73 - The Impact of the Information and Communication Technology on Production and Total Factor Productivity of Industrial Firms
Yadollah Rajaye

This article has investigated the effect of information and communication technology (ICT) on the production and total factor productivity by using the analysis of the panel data. To perform this, the analysis was done through the application of the statistical data rec More

This article has investigated the effect of information and communication technology (ICT) on the production and total factor productivity by using the analysis of the panel data. To perform this, the analysis was done through the application of the statistical data received from the industrial firms related to Iran's StatisticsCenter using a panel data model to the firm level, based on the latest published information (2006-2007). The study has been conducted with two approaches. In the first one, the effects of information and communication technology on the production through estimating the expanded function of Cobb Douglas, regarding the largeness of the agency and the type of the industry have been noted. Six measuring characteristics related to the amount of implementing information and communication technology in Iranian Industry, within the scope of agencies, have been taken into account. In the second approach, the extended production function of Cobb Douglas has been estimated for the two groups of agencies. The groups included those which applied computers in doing the tasks and those which did not. Then, the amounts of the productivity of total production factors were compared. Accordingly, the effect of ICT on production in the first approach, and its effect on total factor productivity in the second one have been considered. The results indicate that most ICT characteristics confirm the positive effects of the information and communication technology on the productivity to the firm level. Also, the results of the second approach validate the undeniable impact of the so-called technologies on the total factor productivity.   Manuscript profile

Open Access Article

74 - The Effects of Human Development on Labor Productivity in Selected OECD Countries
Monere Dezaji Arash Ketabforosh Badri

One of the basic issues in the field of development is rational utilization of the abilities and talents of the manpower in the community. Increasing productivity is the only way that will promote the economic development and welfare of a nation. The miraculous changes More

One of the basic issues in the field of development is rational utilization of the abilities and talents of the manpower in the community. Increasing productivity is the only way that will promote the economic development and welfare of a nation. The miraculous changes in short-term economic growth and development in many countries are the result of increased productivity and the optimum, efficient and effective use of human and physical resources they have. In this regard, this study tries to investigate the effects of the Human Development Index on labor productivity in 32 selected OECD countries by using panel data model in the period 2002-2009. The results show that Human Development Index had a significant and positive effect on labor productivity in the countries studied. Also, openness, value added production, health expenditures and physical capital have positive and significant effects on labor productivity.   Manuscript profile

Open Access Article

75 - Nonlinear Effects of Urbanization and Human Capital on Energy Consumption in Different Sectors of Economy in Iran
Monere Dezaji Arash Ketabforoush Badri

10.30495/qjopm.2019.666894

Scrutiny of energy consumption behavioural patterns in various economic sectors represent an essential step in energy consumption planning and management. Delineation of determinants of energy demand is highly significant in Iran which is a country with rich energy reso More

Scrutiny of energy consumption behavioural patterns in various economic sectors represent an essential step in energy consumption planning and management. Delineation of determinants of energy demand is highly significant in Iran which is a country with rich energy resources, abundant oil and gas supplies, heavy minerals and potential resources. Therefore, using Panel Data Methods, this study explored the effects of urbanization and human capital on energy consumption in Iranian agriculture, industry and services sectors over a 17-year period between 1996 and 2016. The results showed that human capital, workforce productivity, interactive effect of human capital on workforce productivity and the squared value of economic sectors had negative effects while the added value had positive impacts on energy consumption during the specified period. The results of the analyses indicated that human capital and workforce productivity in economic sectors had negative significant interactive effects on energy consumption at the critical value of .01 implying that an increase in human capital and corresponding workforce enhancement will facilitate economizing on energy consumption. Moreover, the estimated coefficients of added value and squared added value of economic activities revealed an inverse U-shaped relationship between added values of economic sectors and energy consumption. Manuscript profile

Open Access Article

76 - Impact of Economic-Social Development on Air Quality in the Middle East Countries
masoumeh motallebi Reza Najarzade Lotfali Agheli

10.30495/eco.2023.1971378.2701

This research mainly aims to investigate the effect of economic-social development on air quality in Middle East countries. For this purpose, the effects of Socio-economic Development indicators and natural resource utilization indicators are examined as one of the main More

This research mainly aims to investigate the effect of economic-social development on air quality in Middle East countries. For this purpose, the effects of Socio-economic Development indicators and natural resource utilization indicators are examined as one of the main drivers of growth and development in the Middle East on Sulfur dioxide  emission as an indicator  for air  quality. Since air pollution is a stable occurrence over time, the time-varying coefficient panel data model during the time period 2000-2019 is used to examine the impact of variables on Sulfur dioxide emissions. The results show that human capital, per capita income, and innovation have the greatest impact on the increase in Sulfur dioxide emissions, but resource usage indicators, especially the consumption of fossil fuels, lead to a decrease in Sulfur dioxide emissions. In fact, given the low use of renewable energy in the Middle East, energy consumption is mainly based on carbon sources. Thus, it is necessary to use environmental technologies and innovations instead of technology-based activities to control this issue in order to achieve sustainable economic growth and development. Manuscript profile

Open Access Article

77 - The Effect of the Comparative Advantage of Economic Activities on the GDP of the Provinces
Seiedeh Narges Aghamohammadi Golamali Haji hadi ghafari peyman ghafari ashtiani

10.30495/eco.2021.1936869.2549

Although economic growth is affected by the growth of factors of production, but according to the pattern of endogenous growth, other variables also affect economic growth. In this study, the effect of the comparative advantage of different activities on the GDP of the More

Although economic growth is affected by the growth of factors of production, but according to the pattern of endogenous growth, other variables also affect economic growth. In this study, the effect of the comparative advantage of different activities on the GDP of the provinces in the period 2004-2014 has been used. For this purpose, the data of statistical yearbooks and regional accounts of the Statistics Center of Iran for 30 provinces have been used. The estimation of the models has been evaluated in the form of a dynamic panel model using the GMM technique. The results of estimating the models confirm that the comparative advantage index in the three major sectors of agriculture, construction and services have a positive and significant effect on the economic growth of the provinces by 0.49, 0.08 and 0.07 percent, respectively. While the index of comparative advantage of industry, mining and energy sector shows a negative impact of 0.15 on the economic growth of the provinces, this negative impact can be due to the greater impact of other sectors on the GDP of the provinces. Manuscript profile

Open Access Article

78 - The effect of industrial concentration and capital goods import on the energy consumption intensity in Iran’s industries
Sima Hajebi Fard Reza Roshan

10.30495/eco.2023.1995412.2788

The purpose of this article is to evaluate the effect of industrial concentration and import of capital goods on the intensity of energy consumption in Iranian industries. Industrial concentration index has been calculated using Herfindahl-Hirschman method and relative More

The purpose of this article is to evaluate the effect of industrial concentration and import of capital goods on the intensity of energy consumption in Iranian industries. Industrial concentration index has been calculated using Herfindahl-Hirschman method and relative entropy. In this research, the panel data method and the fixed effects model were used to estimate the coefficients of the models. The research findings indicate that between 2002 and 2018,  industrial concentration and import of capital goods have a positive and statistically significant effect on the intensity of energy consumption. So that, one percent increase in the share of the industry in the market, increases the intensity of energy consumption between 0,089 to 0.203 percent. Also, the price of energy carriers has a negative effect on the intensity of energy consumption. Considering the inverse relationship between the price of energy carriers and energy intensity and the low elasticity of the price, it is  necessary that incrementally raise the energy prices for industries logically causing environmental pollution to decrease their energy intensity. It is suggested that capital goods enter industries that have low energy consumption. Manuscript profile

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79 - Economic Welfare Analysis with an Emphasis on Aspects of Globalization
Ahmad Jafari Samimi Shahryar Zaroki Seyede Rogheieh Sadati Amiri

Abstract The purpose of this article is to investigate the effect of economic, social and political aspects of globalization on economic welfare in 50 selected countries from three income groups in the time between 2005 and 2015. For this purpose, economic welfare was More

Abstract The purpose of this article is to investigate the effect of economic, social and political aspects of globalization on economic welfare in 50 selected countries from three income groups in the time between 2005 and 2015. For this purpose, economic welfare was been calculated using the Index of Economic Well-Being (IEWB). The results in four frame with panel data method indicated that in high-income countries, economic and social aspect of globalization had significant positive effect on economic welfare while political globalization had no statistically significant effect. While, in the middle-income countries only economic aspect of globalization has significant positive effect on economic welfare. In low-income countries also, economic welfare is affect inversely from economic and political globalization and political globalization has not significant effect on welfare. In general, one can say that non-political aspects of globalization were been affected on economic welfare in the selected countries. Income per capita had a significant positive effect on economic welfare, but inflation had no significant effect on economic welfare. Based on the results an increase in the economic relations is recommend in high and middle-income countries. Manuscript profile

Open Access Article

80 - Estimating an Institutional Structure in Economic Growth Using GMM Dynamic Panel Data Method
mohammad nadiri teymoor mohammadi

One of the most important questions in economics is the huge differences between various societies in welfare and development level. According to the new institutional economics, institutions have a fundamental role in development and economic performance. In this paper More

One of the most important questions in economics is the huge differences between various societies in welfare and development level. According to the new institutional economics, institutions have a fundamental role in development and economic performance. In this paper, we, empirically, are going to investigate the link between institutions and development worldwide during 1980-2009 using dynamic panel data method. Seven ICRG and good governance indexes are used as institutions indicators. Estimation results represent that institutions have a great influence on economic growth. Manuscript profile

Open Access Article

81 - Investigating Unemployment Invariability Hypothesis in Iran's Provinces
Hasan Daliri

This paper pursues the relation of economic participation effects on unemployment   rate in Iran՚ provinces and unemployment invariability hypothesis test. For this, the data 2005-Q2- 2015-Q4 and single-equation different methods, equation system and panel dat More

This paper pursues the relation of economic participation effects on unemployment   rate in Iran՚ provinces and unemployment invariability hypothesis test. For this, the data 2005-Q2- 2015-Q4 and single-equation different methods, equation system and panel data was used.  The results show that in most provinces and also, in the country’ average, the mentioned hypothesis is confirmed due to short run shocks in economic participation; so, in order to decreasing long run unemployment rate, it needs to some changes in macroeconomic policy making and in labor demand too.  It should be noted that labor supply changes have only short run effects in unemployment control. Manuscript profile

Open Access Article

82 - Impact of Oil Different Products Consumption on Economic Growth in Iran Provinces
kumars Shahbazi hosein Asgharpur Karim moharramzadeh

The main objective of this study is to investigate the relationship between different oil products consumption and economic growth in Iran provinces. The basic question is whether the reduction of different oil products consumption caused by subsidy reform plan decelera More

The main objective of this study is to investigate the relationship between different oil products consumption and economic growth in Iran provinces. The basic question is whether the reduction of different oil products consumption caused by subsidy reform plan decelerates the economic growth or not? To answer this question, we use Panel Data model and quarterly data during 2000Q1-2006Q4 at provincial level. The results indicate that gasoline and gasoil consumption have positive and significant effect on economic growth of the provinces, such that the elasticity of provinces products compared to the gasoline and gasoil consumption is 0.22 and 0.19 respectively. The results also represent that the development expenditures of government and population have positive and significant effect on economic growth. The ratio of population elasticity to the production is larger than the ratio of the production elasticity to the development expenditures of government. According to this research, it can be argued that the limitation of oil products consumption can decelerate the economic growth in Iran provinces. Manuscript profile

Open Access Article

83 - The Effect of Environmental Performance on Happiness: A Cross-country Analysis
hadis hesabi morteza khorsandi hosein abbasinejad Hassan Dehghan Shourkand

This article seeks to find the relationship between happiness and environmental quality. So, the effect of environmental performance index on happiness was evaluated by using data sets of 155 countries during time interval 2006-2016 (as biannual) with panel data method. More

This article seeks to find the relationship between happiness and environmental quality. So, the effect of environmental performance index on happiness was evaluated by using data sets of 155 countries during time interval 2006-2016 (as biannual) with panel data method. The results indicate that the improvement of environmental performance index has a positive and significant effect of 6 percent on happiness. On the other hand, the results indicate that the effect of control variables including Gini coefficient and negative impact of environment (An average of negative feelings from environment) was negative, while having the freedom of choice is a positive effect on happiness. Apparently, previous studies confirm the validity of obtained results. Manuscript profile

Open Access Article

84 - Factors Affecting Agricultural Exports in ECO Countries
Hamed Najafi Alamdarloo seyed Abolghasem Mortazavi Katayun Shemshadi

Agriculture is an important part of the economy having a significant role in exports of any country. On the other hand, the economic integration leads to the increase of trading and income of member states. In this paper, the fact More

Agriculture is an important part of the economy having a significant role in exports of any country. On the other hand, the economic integration leads to the increase of trading and income of member states. In this paper, the factors affecting agricultural exports in ECO countries will be studied by using Panel Approach during 1992-2010. The findings present that Export Price Index, GDP and exchange rates have a positive effect and exchange rate fluctuations and population have a negative effect on agricultural exports. So, it is recommended that, for improving agricultural exports, GDP and exchange rate should be increased. In addition, by decreasing the fluctuation in exchange rate, the negative effects will be controlled. Manuscript profile

Open Access Article

85 - The Impact of Tax Ratio on the Tourism Receipts in MENA Countries (Dynamic Panel Data Approach)
majid feshari Ali Akbar Taghipour mojtaba valibeigi nayer ghamari

The impact of tax ratio on the investment, in economic activity such as tourism sector, is important in tourism literature. So, the main objective of this study is to investigate the impact of tax ratio on the tourism receipts in MENA countries during 1995-2009.The mode More

The impact of tax ratio on the investment, in economic activity such as tourism sector, is important in tourism literature. So, the main objective of this study is to investigate the impact of tax ratio on the tourism receipts in MENA countries during 1995-2009.The model of study has been estimated by applying dynamic panel data approach and GMM estimator. The empirical results of study reveal that tax ratio has negative effect on the tourism receipts and GDP per capita and its growth have positive and significant effect on the tourism receipts in such countries. Hence, the main policy implication of this study is that the policy makers, in these countries, should adopt these policies to improve the tax revenue. Because, any increase of tax revenues can decrease the dependency to the tourism receipts. Moreover, the increase of GDP and GDP per capita can improve the tourism receipts in MENA countries. Manuscript profile

Open Access Article

86 - Causality Relationship between Energy Consumption and Production in Iran Industries during 1995-2007
Seyed Kamal Sadeghi Naser Senoobar Davood Behboodi Ali Dehghani

This paper investigates the effect of energy consumption on the production of industries having more than 9 employees in Iran. Hsiao’s Granger Causality and Granger Causality in Panel Data is used along with the data during 1995-2007 to study the issue. The findin More

This paper investigates the effect of energy consumption on the production of industries having more than 9 employees in Iran. Hsiao’s Granger Causality and Granger Causality in Panel Data is used along with the data during 1995-2007 to study the issue. The findings represent that the energy consumption has a positive effect on the production of industries in Iran. Moreover, the results indicate that there is unilateral causality relationship between energy consumption and the value of industrial productions. Hence, the main implication policy of this study is that the policy makers should adopt the policies to improve the value of production in these sectors.  Manuscript profile

Open Access Article

87 - Economic Growth in the Middle East Countries
amirreza souri mohammad hassan sabouri deilami javad attaran

The purpose of this paper is to examine the relationship between crude oil demand and economic growth in Middle East by panel unit root and co-integration developed techniques during 1980-2007. By developing a model, the crude oil demand, oil price and GDP and their gro More

The purpose of this paper is to examine the relationship between crude oil demand and economic growth in Middle East by panel unit root and co-integration developed techniques during 1980-2007. By developing a model, the crude oil demand, oil price and GDP and their growth rates will be explained. In continue, we are going to estimate two various models for oil demand function and the effect of economic growth on Middle East oil demand. The findings represent that the demand function is asymmetric in respect to price and income. Also, economic growth rate is the most important factor for increasing crude oil consumption in Middle East countries. On the other hand, these countries’ oil demand elasticity based upon the price and income is low, but income elasticity is higher than price. However, the findings suggest that oil demand is more important than economic growth. It is because of these countries’ disability in replacing crude oil by new energy sources.  Manuscript profile

Open Access Article

88 - Optimal Budget Modeling for Technical and Vocational Training Organization
zarir negintaji akbar zamanzadeh

Abstract Technical and Vocational Training Organization considers the improvement and promotion of financial resource efficiency as one of the main strategies to implement a comprehensive system of skills and technology across the country. Therefore, the identification More

Abstract Technical and Vocational Training Organization considers the improvement and promotion of financial resource efficiency as one of the main strategies to implement a comprehensive system of skills and technology across the country. Therefore, the identification of influential factors in the financial resource allocation is very crucial for policy makers and managers in the organization. This is the main objective of this research. Statistical society includes all provincial departments of vocational training used in this study during 2012-2013. The methodology is based on Panel Data.The results represent allocating financial resource to vocational and technical training centers in provinces should consider five influential variables, namely unemployment, educational commitment, number of instructors and staffs, and finally, number of workshops. This means that the allocation of financial resources in provinces must be done according to the coefficients %15, %26, %30, %28 and %4 respectively, based on unemployment rate, responsible training hours, number of instructors, number of administrative staffs and number of workshops. Manuscript profile

Open Access Article

89 - The Effect of Information and Communication Technology on Health Economics
saeedeh karimzadegan parvaneh salatin

Abstract The main objective of this paper is to analysis the impact of Information & Communication Technology)ICT( on the health economics among the selected middle-income countries.  The results of fixed effects andGeneralized Method of Moments (GMM) models i More

Abstract The main objective of this paper is to analysis the impact of Information & Communication Technology)ICT( on the health economics among the selected middle-income countries.  The results of fixed effects andGeneralized Method of Moments (GMM) models in the period of 2000-2015 imply that; Mobile cellular subscriptions and the internet have significant and positive effects on the Health expenditure, in private sector among selected countries. If the Mobile cellular subscriptions and internet increased by one percent, Health expenditure in private will be increased 0.136928 & 0.032519 percent in average respectively. Based on the results, it is recommended that appropriate application of modern technologies should be culturalized through education for households, and also in schools and universities. Manuscript profile

Open Access Article

90 - Technology Adopters versus Non-Technology Adopters on the Sustainability of Agricultural Cooperatives
Erwin Kurniawan A. Nurjanana Nurjanana Ndan Imang Arfiah Busari Purwanti Purwanti Dio__Caisar__Darma Dio__Caisar__Darma

In the current situation, the world is busy with technological advances, including Indonesia. Since its arrival, many business fields have competed with each other to take part as technology users. One business sector that cannot be separated from technological support More

In the current situation, the world is busy with technological advances, including Indonesia. Since its arrival, many business fields have competed with each other to take part as technology users. One business sector that cannot be separated from technological support is cooperatives. On the other hand, some cooperatives in the developing phase experience technological lag. At the same time, East Kutai Regency, which is the agricultural center in East Kalimantan Province, tends to rely on the cooperative sector to encourage small and medium-scale economies. This research aims to investigate the causality between access to computers (AC), internet networks (IN), digital administration skills (DAS), and financial literacy (FL) on profits (PFT). The objectivity of the study compares agricultural cooperatives that adopt technology with adopt non-technology. Using panel data regression from eighteen sub-districts in East Kutai, it is proven that technology adopting agricultural cooperatives were more prominent than non-technology adopting agricultural cooperatives during 2017–2022. However, there is a harmony in the statistical findings from both observations, where access to computers and financial literacy both have a significant effect on profits. Other analysis results show that internet networks and digital administration skills have an insignificant impact on profits. The study's implications provide valuable output for the future sustainability of agricultural cooperatives. The success of agricultural cooperatives depends greatly on the effectiveness of the application of technology. Manuscript profile

Open Access Article

91 - Examining Subsidy Polices on Maize Production in Iran (Panel Data approach)
Negin Hosseingholizadeh Jafar Haghighat Rassul Mohammadrezaei

Among the agricultural important factors, inputs are the most significant in agricultural production. This article aimed to examine the impact of government subsidy policies on production of one of the most strategic products, namely on production of one of the most str More

Among the agricultural important factors, inputs are the most significant in agricultural production. This article aimed to examine the impact of government subsidy policies on production of one of the most strategic products, namely on production of one of the most strategic products, namely maize, in Iran. To achieve this goal, panel data for the nine provinces of Iran's major producers of maize during the period of 1999-2007, is used. In this study, first the country's maize production function has been estimated by using data information for inputs: chemical fertilizer, labor, water, seeds and pesticides. And then, calculating the partial elasticity of production factors,sensitivity of production to changes in the value of inputs is evaluated. Also, using a methodology based on the maximum profit, inputs´ demand function is calculated.Results of analyzing government Subsidy Policy showed that, paying subsidy to chemical fertilizer decreases maize production 0.412 percent, because of low demand elasticity of this input. Also according to subsidy of seed, with regard to low demand elasticity of this input to its price, paying subsidy that decreases seed price, wouldn´t have so high effect on its consumption and consequently, on production growth, so that maize production only increased 0.478 percent due to paying subsidy to seed. Manuscript profile

Open Access Article

92 - اثر تغییرات آب و هوا بر هزینه‌های مواد غذایی خانوارهای روستایی ایران
علیرضا کرباسی چیمن صیادی

این پژوهش به بررسی تغییرات آب و هوا بر هزینه مواد غذایی خانوارهای روستایی در ایران می‌پردازد. هزینه‌ موادغذایی خانوارهای روستایی ایران به ‌عنوان تابعی از متوسط درآمد خانوارهای روستایی، شاخص قیمت خرده فروشی مواد غذایی، هزینه موادغذایی خانوارهای روستایی، سطح زیرکشت و آب و More

این پژوهش به بررسی تغییرات آب و هوا بر هزینه مواد غذایی خانوارهای روستایی در ایران می‌پردازد. هزینه‌ موادغذایی خانوارهای روستایی ایران به ‌عنوان تابعی از متوسط درآمد خانوارهای روستایی، شاخص قیمت خرده فروشی مواد غذایی، هزینه موادغذایی خانوارهای روستایی، سطح زیرکشت و آب و هوا با استفاده از روش پانل‌ پویا و نرم‌افزار Stata11برای 26 استان کشور بررسی شده است. بارندگی، دما و رطوبت نسبی به عنوان شاخصهایی برای متغیر آب و هوا  در نظر گرفته شده است. نتایج نشان‌دهنده تأثیر معنی‌دار و مثبت متوسط درآمد خانوارهای روستایی، شاخص قیمت خرده فروشی مواد غذایی، هزینه مواد غذایی خانوارهای روستایی با یک وقفه و بارندگی بر هزینه مواد غذایی خانوارهای روستایی است، سطح زیرکشت و رطوبت نسبی بر هزینه‌های مواد غذایی خانوارهای روستایی اثر نداشته است و دما اثر منفی و معناداری بر هزینه‌های مواد غذایی خانوارهای روستایی دارد. در پایان با توجه به تأثیری که هر کدام از متغیرهای گفته شده به طور صریح بر هزینه مواد غذایی خانوارهای روستایی و بطور ضمنی بر امنیت غذایی این خانوارها دارند پیشنهادهایی برای حفظ و همچنین بهبود امنیت غذایی در خانوارهای روستایی ارائه شده است. Manuscript profile

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93 - تاثیر مزیت نسبی صنایع سه گانه کشاورزی و متنوع سازی صادرات بر ارزش افزوده این صنایع در ایران
افسانه شایسته همایون رنجبر

برنامههای توسعهای کشور بر استراتژی رشد مبتنی بر صادرات تاکید دارد و متنوع سازی صادرات، یکی از سیاستهای مناسب در این زمینه است. یکی از عوامل مؤثر در شناخت توانمندیهای تولیدی و صادراتی یک کشور برای اتخاذ سیاستهای مناسب در آن زمینه، وجود مزیت نسبی More

برنامههای توسعهای کشور بر استراتژی رشد مبتنی بر صادرات تاکید دارد و متنوع سازی صادرات، یکی از سیاستهای مناسب در این زمینه است. یکی از عوامل مؤثر در شناخت توانمندیهای تولیدی و صادراتی یک کشور برای اتخاذ سیاستهای مناسب در آن زمینه، وجود مزیت نسبی در تولید و صادرات کالا بوده و تغییرات ارزش افزوده فعالیتهای صنعتی میتواند توانمندیهای تولیدی و صادراتی کشور و همچنین رشد تولید را نشان دهد. با توجه به اهمیت و ارزش افزوده بخش کشاورزی در کشورهای در حال توسعه، ارزش افزوده و عوامل تاثیرگذار در صنایع سه گانه غذا، چوب و کاغذ مورد مطالعه قرار گرفته است. برای این منظور متغیر مزیت نسبی وزنی صنایع سه گانه کشاورزی و تنوع در این صنایع در طول سال های 1998 تا 2013 با استفاده از داده های پانل در نظر گرفته شده است. نتایج برآورد مدل نشان می دهد که در دوره مورد مطالعه صنایع چوب و کاغذ کمبود مزیت نسبی در تولید و صادرات داشته اند و این متغیر تاثیر منفی بر رشد ارزش افزوده خواهد داشت. متنوع سازی صادرات تنها در صنایع غذایی انجام شده است،  اما این متغیراثر مثبت بر رشد ارزش افزوده صنایع بخش کشاورزی دارد. متغیرهای سرمایه انسانی و سرمایه فیزیکی هم اثر مثبت بالایی بر  ارزش افزوده این صنایع، در بخش کشاورزی دارند. Manuscript profile

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94 - Impact of information technology on productivity and efficiency in Iranian manufacturing industries
Amir Gholam Abri Mahmoud Mahmoudzadeh

Manuscript profile

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95 - The Effects of Entry of Real Shareholders and Exchange Rate Volatility on the Return on Assets in the Pharmaceutical Materials and Products of Tehran Stock Exchange (Dynamic Panel Data Approach)
Fereshteh Shams Safa marjan damankeshideh Majid AfsharRad Manijeh HadiNejad Alireza Daghighi Asl

AbstractPharmaceutical industry has a main share in capital market and a considerable role in stock market transactions through the collection of community micro-savings. Hence, the cruicial aim of this paper is to investigate the effects of nominal exchange rate volati More

AbstractPharmaceutical industry has a main share in capital market and a considerable role in stock market transactions through the collection of community micro-savings. Hence, the cruicial aim of this paper is to investigate the effects of nominal exchange rate volatility and entry of real shareholders on the return on assets (ROA) in the 32 pharmaceutical materials and products of Tehran stock exchange as a import oriented companies during the period of 2011-2019. For achieving this, by using of Panel GARCH method, the exchange rate volatility has been estimated and then, the impacts of this variabble with other explanatory variabbles such as entry of real shareholders, profit margin, capital and interest rate to the operational profit, have been examined on return on assets in these companies. The empirical results of model estimation by GMM estimator revealed that the exchange rate volatility has negative and entry of real shareholders has positive and significant effect on the return on assets. Moreover, the auxiliary variables like profit margin, capital and interest rate have positive, positive and negative effects on the return on assets. By results of this study, we can suggest that the financial policy makers with decreasing of exchange rate volatility through control of domestic prices and capital market stabilization policies, motivate real shareholders to enter the capital market and increase the production and profitability of pharmaceutical companies. Manuscript profile

Open Access Article

96 - Investigating the impact of risk incentives on the strength of the market value of banks' shares admitted to the stock exchange
fatemeh Sehbaradaran Reza Rahimi Hadi Mohamadi mohamadi

Some market participants believe that with the increase in market volatility and the decrease in the number of small shareholders, a type of stability will be created in the decision-making process of bank management that only considers the interests of majority shareho More

Some market participants believe that with the increase in market volatility and the decrease in the number of small shareholders, a type of stability will be created in the decision-making process of bank management that only considers the interests of majority shareholders. This disrupts market activities and reduces the cash asset reserves of banks based on optimal risk incentives. The aim of this study is to investigate the effect of risk incentives on the market value of banks. This research is a library-based analytical study based on panel data analysis. Financial information from 10 accepted banks in Tehran Stock Exchange during the period from 2016 to 2021 was examined. The results showed that liquidity fluctuations as one of the risk incentives had a positive and significant effect on the market value of banks during the studied period. Financial performance fluctuations also had a positive and significant effect on the market value of banks. Manuscript profile

Open Access Article

97 - Modelling Portfolio Pricing in Tehran Stock Exchange
zahra karimi zahra farshadfar

Knowing effective factors on optimum portfolio assignment is one of the mainissues facing finance market investors. Therefore, the present empirical study aimsto assign optimum portfolio pricing pattern in Tehran Stock Exchange. Hence, RCAPM,Fama and French and Carhat p More

Knowing effective factors on optimum portfolio assignment is one of the mainissues facing finance market investors. Therefore, the present empirical study aimsto assign optimum portfolio pricing pattern in Tehran Stock Exchange. Hence, RCAPM,Fama and French and Carhat pricing pattern were studied. A combination oftwo methods (panel data and apparent portfolio) were used for 2012-2020. Datasample consisted of 176 active companies in Tehran Stock Exchange. Initially, datawere divided into two groups: the first group used for portfolio making and modelestimation and the second group used for optimum portfolio assignment. Foroptimum assignment MAD, MSE, RMSE, MAPE index were used. Resultsindicated that portfolio comprising big companies had a negative effect oninvestment return, while portfolio comprising small companies had positive return.Momentum factor of portfolio comprising winning companies was positive while inportfolio comprising losing companies was negative. Finally, it can be concludedthat in Tehran Stock Exchange Carhat pricing pattern has better performancecompered to RCAPM or Fama and French pricing pattern during the mentionedperiod. Manuscript profile

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98 - Analyzing the effect of foreign direct investment on economic growth in developing countries
Mahnaz Rabiei Maryam Behifar Ghasem Azadi Ahmadabadi

In many developing countries, faced with the need to promote and strengthen the economy's long-term access to new technology, management know-how in many cases significantly associated with lack of resources, have floundered. Strengthen the local economy with a potentia More

In many developing countries, faced with the need to promote and strengthen the economy's long-term access to new technology, management know-how in many cases significantly associated with lack of resources, have floundered. Strengthen the local economy with a potential role in the shortage of foreign direct investment on economic growth in these countries is long-term. Therefore, this article tries to account 17 during the period 1990 to 2019 to analyze the impact of developing country foreign direct investment on economic growth in these countries will be discussed.In this study, the effect of labor variables, gross domestic fixed capital formation, the rate of economic openness and foreign direct investment on economic growth is estimated to selected countries.Also, although initially positive effect of FDI on economic growth, but this effect was reversed a year break and have a negative impact on the economy, which could be due to leakage of finance, technology, communications, human resources and vulnerability to be closed. Manuscript profile

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99 - The Effect of Financial Development on the Financing of Listed Companies in Tehran Stock Exchange
Naem Eslamdust Elham Gholami

The main objective of the study was to investigate the effect of financial development on the financing of companies listed on the stock exchange, which are related to the automotive-related industries. To this end, the effects of four indicators of financial developmen More

The main objective of the study was to investigate the effect of financial development on the financing of companies listed on the stock exchange, which are related to the automotive-related industries. To this end, the effects of four indicators of financial development, along with control variables such as profitability, liquidity and size of the company, have been investigated in the form of two regression models on two variables related to financing, namely, proportional relationship of both long-term debt and short-term debt to total assets. So that the two models, with the panel data taken from the 50 companies involved in automotive industry and active in stock exchange between the years 2011 to 2016, are assessed using fixed effects. The results show that stock market development has a positive and significant effect on the ratio of long-term debt to total assets. Meanwhile, the effect of the index on the stock market activity is more than the magnitude of the impact of the index relative to its size. However, the effect of the development of the banking sector on this ratio is negative and the effect of the indicator on the banking system activity is more than the magnitude of the impact of the index relative to its size.   Manuscript profile

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100 - The Impact of Country Risks Index on Commercial Insurance Demand (Case Study: MENA Countries)
Ali Dehghani Niloufar Sheikh Rezaie

In this research the main objective is to explore the impact of country risk index on business insurance demand in MENA countries. To this end, understanding the impact of per capita GDP, risk transition function, education level, inflation, urban population and the rea More

In this research the main objective is to explore the impact of country risk index on business insurance demand in MENA countries. To this end, understanding the impact of per capita GDP, risk transition function, education level, inflation, urban population and the real interest rate risk in terms of macro-economic, financial, political and commercial insurance demand in the MENA countries are targeted. The research model estimates, the demand for life insurance in three models (with regard to financial risks, economic and political) and three commercial insurance claims (by taking economic, political and financial risks), using data MENA panel of 16 countries during the period from 2007 to 2014, were to examine the effect of country risks. According to the results, political risk in business demand model is ineffective while the other risks related to financial and economical variables are positive and have a significant effect. Manuscript profile

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101 - Impact of the Internet on Labor Productivity in Selected MENA Countries
Ali Salmanpour Safar Farhang Mahnaz Shokouhi Fard Siamak Shokouhi Fard

The importance of information and communication technology (ICT) in the nationaleconomy is apparent. ICT has positive outcomes in economy in various forms such as economicgrowth and total productivity, promoting trade of goods and services, reducing inflation andtransac More

The importance of information and communication technology (ICT) in the nationaleconomy is apparent. ICT has positive outcomes in economy in various forms such as economicgrowth and total productivity, promoting trade of goods and services, reducing inflation andtransactions costs. This study examines the effects of the internet on labor productivity byusing MENA selected countries data from 2000 to 2013 and dynamic panel data techniquesand by applying Arellano and Bond’s (1991) 1-step and 2-step GMM estimators. To this end,after testing variables stationary and existing co-integration between them, by Pedroni panelco-integration test, the final model was estimated by various estimators. The results of modelestimation by Arellano and Bond’s 2-step GMM estimator indicated that internet has positiveand statistically significant effects on labor productivity and in long term if other factors wereconstant, an increase in the number of internet users per 100 people, GDP per person employed,increases labor productivity 1.92$. Also, the impact of education and health expenditureson labor productivity are positive, but not statistically significant. Trade openness, GDP peremployed person in the previous period and capital formation has positive effects on the laborproductivity and are statistically significant Manuscript profile

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102 - The Impact of Information and Communicatin Technology on Labor Productivity in Food Industry of Tehran Province
Farzaneh moradi Kambiz hojabr kiani

The Objective of This Paper is to Estimate the Impact of Information and Communication Tecnology (ICT) on Labor Prodctivity in Food Industry in Tehran Province. Using the Estimating Data we Have Estimated Labor Productivity Equation by Emplaying Cobb_Douglas Production More

The Objective of This Paper is to Estimate the Impact of Information and Communication Tecnology (ICT) on Labor Prodctivity in Food Industry in Tehran Province. Using the Estimating Data we Have Estimated Labor Productivity Equation by Emplaying Cobb_Douglas Production Function. our Sample of Balanced Panel Includes 16 Four Digits ISIC Codes of Food Manufacturing Industry for Five Years (2006_2010) We Used The number of Employer Using Internet as an Index ICT Usage. The Results of The Study Indicates That ISIC has a Significant Positive Impact on Labour Productivity. Manuscript profile

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103 - The Oil shocks Effects on macroeconomics variables in some exporter and importer selected Countries
Ebrahim Hosseini nasab Mona mirkazemi mod

The Oil shocks in 0847 and its effects on international economics have created many attention on oil increase prices by economists. The oil shocks in 0881 and its asymmetric influences between economic growth and oil shocks economist has focused on this relations. In th More

The Oil shocks in 0847 and its effects on international economics have created many attention on oil increase prices by economists. The oil shocks in 0881 and its asymmetric influences between economic growth and oil shocks economist has focused on this relations. In this study we investigated oil shocks effects on economic growth and inflation rate in exporter and importer oil countries. with using panel data method. during 0831-5112 we found that oil shocks fluctuation has significant affect on economic growth and inflation rate in both countries. Manuscript profile

Open Access Article

104 - The Impact of ICT onTotal Factor Productivity in Selected Countries of The World
Ahmad Jafarisamimi Alireza daghighiasli Mah shad Arab

In recent years, Information and Communications Technology has the greatest impact on different aspects of human's life including effect of this technology on all economic sectors. In particular, ICT has increased Total Factor Productivity in many countries of the world More

In recent years, Information and Communications Technology has the greatest impact on different aspects of human's life including effect of this technology on all economic sectors. In particular, ICT has increased Total Factor Productivity in many countries of the world especially developed countries from the second half of the 0991s. ICT capital has characteristics of knowledge commodity. Hence, it is able both through capital deepening and by its overflowing effect to affect productivity. This paper investigates ICT impact on TFP using Panel Data Method for the sample of selected developing and developed countries within the time period 3112-3112. Results of this study indicate that ICT internal investment and ICT external capital or the very ICT overflow, both, have positive and significant effect on TFP both in the sample of all the selected developing countries and in the sample of developed countries. In addition, effect of human capital on TFP in both samples of developed countries and selected developing countries was found positive. Manuscript profile

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105 - برآورد کشش‌های قیمتی و درآمدی گروه‌های مصرفی خانوارهای شهری با استفاده از سیستم تقاضای تقریباً ایده‌آل مبتنی بر داده‌های تابلویی
جمشید پژویان سید محمد مهدی احمدی

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106 - The Effect of Financial Development on Income Distribution in Developing Countries and Developed Countries: GMM Method
علی اکبر احمدی محمد اسماعیل رستمی نیا علیرضا غیبی

Considering that the main objective of this study was to investigate the effect of financial development on income distribution (Gini index) in  selected developing countries and  developed countries in the selected time period (2000-2010) is empirical modelin More

Considering that the main objective of this study was to investigate the effect of financial development on income distribution (Gini index) in  selected developing countries and  developed countries in the selected time period (2000-2010) is empirical modeling study using dynamic panel generalized moments (GMM) and use the variables GDP per capita, trade openness indicator, the indicator of financial development, inflation, consumer price index and the Gini coefficient was estimated. The results of the estimation of the model in both developed and developing countries distinguishing short and long term effects is discussed. These results indicate that the coefficient of financial development in developing countries (0/02) have opposite signs developed countries (-0/04) is. As income inequality and financial development theories, different estimates of the relationship between these two variables stated, Financial development in developing countries, the increase in income inequality and the increase in average household income and access many brokers and financial services, reduces income inequality. While in developed countries a negative linear relationship between financial development and income inequality that Byangrkahsh income inequality is due to the development of markets and financial intermediaries. Coefficient of per capita income, inflation and the value of the Gini coefficient by delays in developing countries and developed signs consistent with the model assumptions. Manuscript profile

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107 - برآورد تابع تقاضای بنزین در ایران طی دوره زمانی 1381 تا 1386 با استفاده از تکنیک پنل دیتا*
علی امامی میبدی غلامرضا گرایی نژاد نگین دارابی

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108 - The Corruption Effect on Foreign Direct Investment in Developing Countries
عبدالرحیم کردی مهدی خدا پرست مشهدی

A country's investment environment is affected by Political, Institutional, and Economic Factors. These factors are determinants of quality of institutional environment across countries. Corruption often viewed as consequence of inappropriate institutions. Results of Mo More

A country's investment environment is affected by Political, Institutional, and Economic Factors. These factors are determinants of quality of institutional environment across countries. Corruption often viewed as consequence of inappropriate institutions. Results of Most studies show that high cost and uncertainty created due to corruption affect attractiveness of host country to investors and destroys incentives for foreign investment. Yet, some studies could not find significant relationship between the corruption and foreign direct investment flows. Regard the lack of experimental study, the present research highlight the relationship between subcomponents of corruption and the flows of foreign direct investment in developing countries. The result of regression using panel data of 50 countries for time period 1996 – 2012, show that different forms of corruption have separately effects on the flows of foreign direct investment. So, corruption in the field of import/export permits has a positive and significant impact on FDI inflows, whereas corruption in the fields of annual tax payments, access to public utilities and judicial decisions have negative impact on FDI.   Manuscript profile

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109 - The Interactions between Infation Uncertainty and Government Spending on Main Economic Sectors Growth In Iran
محسن مهر آرا میر سجاد سید قاسمی محسن بهزادی صوفیانی

Abstract The present study aims at investigation of uncertainty effects of inflation and government expenditures and their interactional effect on the growth of main Iranian economic sectors. Using of Generalized Autoregressive Conditional Heteroscedasticity (GARCH) mo More

Abstract The present study aims at investigation of uncertainty effects of inflation and government expenditures and their interactional effect on the growth of main Iranian economic sectors. Using of Generalized Autoregressive Conditional Heteroscedasticity (GARCH) models is considered for evaluation of uncertainties because these models provide a possibility of change in conditional variance of error term. Then we use the method of Panel Data for the evaluation of the above-mentioned uncertainties effects between 1968-2012. The results show the negative effects of inflation uncertainty on the four main sectors of Iran’s economy. Government expenditures uncertainty has had negative effects on the growth of economic sectors which oil and gas are exceptions here. The interaction of the above uncertainties has had a negative and separate bearing on the growth of agriculture and services sectors. This means that the increase in each of these uncertainties causes the severity the effects of other uncertainty on these economic sectors. Manuscript profile

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110 - An Investigation of Higher Education Effects on Economic Growth in Iran
Nemat Falihi

Human resource allocation is one of the most important factor which can affect on value added creation in various sector. In this paper based on a dynamic model, we will test the relationship between human capital and economic growth in Iran. Our findings show that such More

Human resource allocation is one of the most important factor which can affect on value added creation in various sector. In this paper based on a dynamic model, we will test the relationship between human capital and economic growth in Iran. Our findings show that such relation is weak because of mismatching between jobs and education field basicly. This matter leads us to a reality which means omission of this inefficiency source can enhands the labor productivity and increase economic growth. Other results confirm that high education labor force has positive effects than low level education (primary and high school) on different sectors value added. So, authorities should consider more on higher education labor force in their planning and polices. Manuscript profile

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111 - An Analysis of Effective Factors on Private Deposits in Commercial & Development State –owned Banks in Iran
Rafik Nazarian Marjan Mohammad Esmaeil

This paper deal with to estimate the effects of influencing factors on absorption of the private deposits in state owned commercial and development banks in Iran banking system. The model includes two groups of variables according to Friedman's money demand theory and i More

This paper deal with to estimate the effects of influencing factors on absorption of the private deposits in state owned commercial and development banks in Iran banking system. The model includes two groups of variables according to Friedman's money demand theory and individual saving literature. In First, the macroeconomic variables include, national income, real banking rate, foreign exchange rate and real state price index and the seconds are, banking industry specific variables including, number of branches, credit volume and the number of bank employee. Two models in the form of panel data(FE) was used to estimation the role of effective factors on private deposits in six commercial and four development state owned for 8731-18 period in iran. the results show that, national income, real banking rate and the credit have positive effect and foreign exchange rate and real state Price index have negative meaningful effect on the bank deposits and number of branches and number of employee don’t have any meaningful effect on private deposits in those banks in Iran. Manuscript profile

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112 - بررسی مقایسه‌ای اثر تورم بر تقاضای بیمه‌های عمر در کشورهای در حال توسعه
ابراهیم عباسی علیرضا دقیقی اصل سکینه حسین خانی

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113 - Impact of Tourism Development on Economic Growth (Compared to Iran and Selected Countries)
Hossein Mirzaie Sanaz Jalili

Tourism industry forms different services in every country. Growth in tourism has led to economic growth. Also tourism industry creates employment in different sectors of the economy. In this study, the impact of tourism on economic development was reviewed panel data a More

Tourism industry forms different services in every country. Growth in tourism has led to economic growth. Also tourism industry creates employment in different sectors of the economy. In this study, the impact of tourism on economic development was reviewed panel data approach . In this paper, two groups of oil and non-oil producing countries in the Middle East has been studied. Oil exporting countries are including Iran, Saudi Arabia, United Arabic Emirate, Kuwait and Qatar and Non-oil producing countries, are including Turkey, Pakistan, Lebanon, Jordan and Egypt. Hypothesis testing proved tourism growth has led to economic growth in all of ed countries. Coefficients of test the variables, was positive for number of tourists and revenue tourism in all models we estimate it. This presumption was confirmed that tourism industry has less effect on growth in oil-exporting countries. Manuscript profile

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114 - The Influence of Financial Development on Income Distribution in Some Selected Countries
منیره دیزجی محدثه آهنگری گرگری

  Abstract Since the development of institutions, agencies and financial markets of each country can have significant effects on income distribution of that country. The aim of this study is to examine the relation between the financial development and inequality More

  Abstract Since the development of institutions, agencies and financial markets of each country can have significant effects on income distribution of that country. The aim of this study is to examine the relation between the financial development and inequality in developed and developing countries  by using generalized least square method(GLS) and generalized method of moments(GMM) and related theories, studied by entering variables like unemployment rate, the average years of schooling indices of human development, government size and per capita during the period 2000 to 2013. Thus, according to the ranking report of the United Nations Human Development(UNDP) in 2014, 35 countries with very high human development index and 32 countries with high and medium human development index have been selected as developed and developing countries, respectively, which these regions have had full data. The estimation results have been obtained using Stata14 and Eviews9. Empirical results obtained for developed countries, showed that the square of financial development is part of the descending inverted U curve. For developing countries, the estimation result of GLS approved the inverted U curve for the variables financial development and per capita income, while the GMM results income with income inequality, respectively. Finally, according to the above discussion, it can be concluded that for the developed and developing countries, the increase of financial institutions will reduce the income inequality. Manuscript profile

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115 - Analyzing the Impact of Financial Policy (Total Income Tax) on Income Distribution in Selected OECD Countries
حسن ملااسمعیلی دهشیری جمشید پژویان فرهاد غفاری سید شمس الدین حسینی

10.30495/fed.2022.691502

Abstract Economic justice and equitable distribution of income, along with important issues such as economic growth and development, the reduction of inflation and unemployment, have always been of concern to economists. Fair distribution of income and reduction of inc More

Abstract Economic justice and equitable distribution of income, along with important issues such as economic growth and development, the reduction of inflation and unemployment, have always been of concern to economists. Fair distribution of income and reduction of income inequality in society, and the identification of factors affecting income inequality to make the right policy are necessary and obvious. The purpose of this paper is to examine the impact of financial policy (total  income tax) on income distribution (GINI CO) in OECD countries. In this regard, panel data approach has been used to investigate the impact of total income tax on gini CO for 6 selected OECD countries from 2000 to 2015. The results show that an increase in inflation index and unemployment index leads to a increase in income inequality and that an increase in income tax revenues leads to a reduction in income inequality. Manuscript profile

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116 - The effect of foreign aid on per capita income growth in some selected Developing countries from Asia and Africa
کریم امامی نجمه آزاد وار

Abstract Capital formation is one of the important factors in economic development. Developing countries are usually known with poor economies or ventures descend. In these countries not only current reserves of capital is low but also the concentration of capital. Due More

Abstract Capital formation is one of the important factors in economic development. Developing countries are usually known with poor economies or ventures descend. In these countries not only current reserves of capital is low but also the concentration of capital. Due to the lack of internal funds for financing in developing countries, is one of proposed solutions on an international scale is import of capital such as loans, credits and grants from developed countries. Therefore, the effect of foreign aid as a foreign financial flow to developing countries to promote economic development is essential and knowledge of these effects will lead to the right decisions for the optimal use of these contributions. This study investigates the impact of foreign aid on growth in per capita income. We employ panel data over the years 1987 to 2010 in selected developing countries from Asia and Africa deals. The result show the effectiveness of foreign aid on per capita income growth is negative but small.   Manuscript profile

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117 - ارزیابی چگونگی عوامل تاثیرگذار بانکی بر مطالبات غیرجاری بانک-های ایران )رویکرد مدل پانل پویا GMM)
نادر حکیمی پور

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118 - An Examination of influencing factors on economic growth in some selected MENA countries
Bijan Baseri Golamreza Abassi Arezo Nouri

The aim of this paper is to analyse the influentioal factors on economic growth in MENA coutries during 1991-2001. The differences between economic growth in these countries has originated from existing institutions performance, doing business condition, production fact More

The aim of this paper is to analyse the influentioal factors on economic growth in MENA coutries during 1991-2001. The differences between economic growth in these countries has originated from existing institutions performance, doing business condition, production factors, the level of technology and competition between government and private agencies in economic activities. Based on a panel data teqniquic on some selected countries we have estimated the labor and capital coefficient effects on their production value. The findings show that capital accumulation have positive effects on economic growth rate in Iran, Emarat, Jordon, kuweit, Moroco, Oman, Qatar, Surya and Turkey. These coefficients in Bahrin, Lybia, Saudi Arabia, and Tunesia are lower than former groups. In addition, human factors have more participants in growth in Iran, Turkey, Jordon, Kuweit, Saudi Arabia, Tunesia and Bahrin to others selected Counttries. Manuscript profile

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119 - Estimation of Economic Growth Model in Selected Developing Countries: Generalized Method of Moments Approach
Monireh Pourali yadollah Rajaei Mohammad Dalmanpor

10.30495/fed.2023.700125

Abstract One of the basic goals of any society is to achieve economic growth with less &lrm;fluctuations. In fact, achieving sustainable economic growth and economic stability is one of &lrm;the main goals of any country. If the existing economic base and the future pe More

Abstract One of the basic goals of any society is to achieve economic growth with less &lrm;fluctuations. In fact, achieving sustainable economic growth and economic stability is one of &lrm;the main goals of any country. If the existing economic base and the future perspective &lrm;indicate economic stabilization, the path of long-term investment growth will be strengthened, &lrm;otherwise, the capital will be inclined to the service, trading and hoarding sectors, and in the &lrm;long term, it will reduce the economic growth rate. In this article, the effect of macro-&lrm;economic indicators (international trade, human capital, physical capital, inflation and foreign &lrm;debt) and institutional indicators (combined index consisting of the components of voice and &lrm;accountability, political stability without violent, government effectiveness, regulatory &lrm;quality, rule of law and Corruption Control) and corruption control) on economic growth &lrm;were investigated and analyzed in 15 selected developing countries during the years 2006 to &lrm;&lrm;2019 with the generalized method of moments (GMM). The regression results showed that, &lrm;among macroeconomic variables, inflation and foreign debts had a negative effect on &lrm;economic growth, but international trade, human capital and physical capital had a positive &lrm;effect on economic growth. The combined index of institutional factors also had a positive &lrm;effect on economic growth.&lrm; Manuscript profile

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120 - TheEffective Factors Analysis on Tourism Industry in Middle, South and West Asia
Narciss Amin Rashti Fatemeh Fahimifar Ebrahim Siami Araghi

Because of the ancient history and various nature species, Asia continent have attracted many tourists from all over the word. Various negative reasons such as civil and foreign wars, terrorism, ethnic and tribal prejudice, etc have been effective on few tourists in thi More

Because of the ancient history and various nature species, Asia continent have attracted many tourists from all over the word. Various negative reasons such as civil and foreign wars, terrorism, ethnic and tribal prejudice, etc have been effective on few tourists in this region. In spite of oil and petroleum resources, and high incomes in these countries, there isn’t any serious focus on tourism. The present study investigates effective factors on tourism in Middle, South and West Asia. Also, it analyzes these factors with focus on revolutions and recent world circumstance. Moreover, the effect of nature attractions such as species’ extinction (e.g. plants, birds, mammalians, and fishes) is discussed in order to tourist attraction. So, Panel Data is used for time period form 3227to 4112. The results show that some factors (such as Insecurity) have negative effect and others positive (such as ecotourism) on the number of tourists Manuscript profile

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121 - The dynamics of economic growth and output volatility
Karim Emami Shohreh Vakilian

Until the 3996’s, business cycle theory and growth theory were treated as two separate and unrelated realms. It was believed that business cycles would cast only short run but not long run effects on growth. Charles Nelson and Charles Plosser (3992) were the first More

Until the 3996’s, business cycle theory and growth theory were treated as two separate and unrelated realms. It was believed that business cycles would cast only short run but not long run effects on growth. Charles Nelson and Charles Plosser (3992) were the first to challenge this view. They argue that shocks contribute substantially to variation in output. King, Plosser and Rebelo (3999) argue that economic fluctuations influence the process of stochastic growth. They suggest that temporary shocks can have permanent effects on the level of economic activity. This new view supports the existence of a link between volatility and long-run growth. This study attempts to delineate more clearly the relationship between growth and output volatility. The focus of the study is to re-examine the negative relationship between growth and output volatility as Ramey and Ramey (3991) have concluded. In this study, Ramey and Ramey’s (3991) empirical approach has been expanded by revising sample of countries included in this panel data analysis (developed, developing and other countries with data availability over 3903 to 2667.). Data used for this investigation has been gathered from the recent version of the Penn World Table (Summer-Heston-Aten). In order to estimate output volatility, GARCH technique and Panel Data approach have been used. The result of our model has reaffirmed the findings of earlier studies that the inverse relationship exists between economic growth and output volatility. Manuscript profile

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122 - A Survey of economic shocks Influences on the energy growth rate efficiency (case study: OPEC countries Oil Revenues During 2000-2011)
مهدی پدرام مهدی بصیرت مریم امیری

Abstract Productivity, especially energy productivity, and its improvement is an inevitable requirement in each country. In this study, the effects of changes in energy prices, net investment and the share of value added on the growth rate of energy productivity is dis More

Abstract Productivity, especially energy productivity, and its improvement is an inevitable requirement in each country. In this study, the effects of changes in energy prices, net investment and the share of value added on the growth rate of energy productivity is discussed. As well as, by using Solow–Swan growth model, the energy productivity convergence in the period 2000-2011 in a selection of OPEC countries is examined. For the data analysis, panel data is used. Based on results, factors affecting the growth rate of energy productivity used in the research have significant effect on the growth rate of energy productivity. In addition, we found that those countries with a lower induced consumption, they have higher growth rate in the long-term consumption. Manuscript profile

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123 - The Effect of Exchange Rate Fluctuations on the Economic Growth Due to Financial Markets Deepening in Some Selected OPEC Countries
مهدی بصیرت آرزو نصیر پور علیرضا جرجرزاده

  Abstract Fluctuations in the real exchange rate, including factors that could affect macroeconomic performance and especially economic growth. It can be said that a factor in the analysis of the relationship between exchange rate volatility and economic growth More

  Abstract Fluctuations in the real exchange rate, including factors that could affect macroeconomic performance and especially economic growth. It can be said that a factor in the analysis of the relationship between exchange rate volatility and economic growth has received little attention is the development level of countries’ financial markets. This study was aimed to investigate the effect of exchange rate fluctuations on economic growth considering rate of development of financial markets in selected Member Countries of OPEC over the period 1981-2010. The effects of inflation on economic growth have been studied as well. The results obtained by analyzing of panel data show that the effect of financial development on economic growth and the mutual effect of exchange rate fluctuations and financial development on economic growth is positive, but statistically view are not significant.   Manuscript profile

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124 - The Effect of Electronic Banking on Return on Equity for Selected Banks in Tehran Stock Exchange
سید شمس الدین حسینی حمید فرامرزی عباد

Electronic banking is a result of entering information and communication technology in the field of banking that led to reduced bank’s and costumer's costs. Use of electronic banking instruments such as automated teller machine (ATM) and point of sales (POS) has r More

Electronic banking is a result of entering information and communication technology in the field of banking that led to reduced bank’s and costumer's costs. Use of electronic banking instruments such as automated teller machine (ATM) and point of sales (POS) has released delivery of banking services from the liabilities of time and location and affect the profitability of banks. This study has investigated the effect of electronic banking expansion on return on equity (ROE) in eight banks in the Tehran Stock Exchange included four private banks (Eghtesad novin, Parsian, Pasargad, Sina) and for state-owned banks that has been transferred their shares to the Stock Exchange (Saderat, Mellat, Tejarat, Post bank); in period of 1385-1393. Based on Generalized Least Square (GLS) approach and panel data method we found a significant positive effects between ROE and independent variables  such as ATM/Branch, SPOS, HHI and GDP .   Manuscript profile

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125 - واکنش شرکت‌های فعال بورسی به تغییرات پولی و ارزی ( مطالعه موردی صنعت پتروشیمی)
بیژن باصری غلامرضا عباسی محمدرضا مرکباتی

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126 - Studying the Impact of Small and Medium-Sized Manufacturing Industries on the Growth of Industrial Value Added in Iran’s Economy
Hediha setayesh Abbas Memaranjad Kambyz Hejbarkiani Taghi Torabi

10.30495/fed.2022.694720

AbstractThis paper attempts to explain the importance of small and medium-sized enterprises in the economy and to highlight their main facing challenges, in particular the “financial challenge". The present paper seeks to analyze the impact of small and medium-siz More

AbstractThis paper attempts to explain the importance of small and medium-sized enterprises in the economy and to highlight their main facing challenges, in particular the “financial challenge". The present paper seeks to analyze the impact of small and medium-sized industries on the growth of industrial value added in Iran’s economy for 22 ISIC codes during the period of 2005-2014.The main findings of this study indicate that the growth of value added of small and medium-sized industries has a significant positive effect on the growth of value added of industries with ten employees and more; the growth of innovation level in small and medium-sized industries may have a significant positive effect on the growth of value added of this group of industries, and the growth of openness of Iranian economy can affect the growth of value added of industries with ten employees and more, positively; but it has a negative effect on the growth of value added of small and medium-sized industries. Furthermore, it is suggested that in order to boost and facilitate the economic activities of small and medium sized enterprises, several issues should be considered including“promoting the non-bank financing methods”, “providing effective support for innovative projects”, “implementing industrial export development programs”, and “providing industrial advisory services, in particular financial advisory services”.   Manuscript profile

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127 - The nonlinear effects of entrepreneurship and institutional factors on financial development
Maryam Sarfaraz Mohammadyar Mohammad Sokhanvar Elnaz Entezar

10.30495/fed.2023.707995

Abstract The effect of financial development on the economy is so important that today it is believed that economic development cannot be achieved without an efficient and developed financial sector. In this research, to investigate the nonlinear intersectional effects More

Abstract The effect of financial development on the economy is so important that today it is believed that economic development cannot be achieved without an efficient and developed financial sector. In this research, to investigate the nonlinear intersectional effects of entrepreneurship and institutional factors on financial development (banking credit and value of trading shares) in 14 countries with high HDI during the time period of 2007-2020 using the panel data econometric technique It is addressed by nonlinear Nonlinear Auto Regressive Distributed Lag (NARDL) approach. The results of the estimations indicate that in the studied countries, the positive (negative) shocks of the intersectional effects of entrepreneurship and institutional factors have a positive (negative) effect on banking credit and value of trading shares. According to the results, first by improving and then by expanding the institutional and entrepreneurship indicators, it is possible to play a significant role in increasing the financial development indicators. Manuscript profile

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128 - The Effects of Too-Big-to-Fail Periods Banks on Deposits in Government and Private Banks in Iran (Dynamic Panel Data Approach)
Hossein Mirzaei mehrdad rezaei Javad Salahi Majid Afshari Rad

10.30495/fed.2022.697615

AbstractIn the wake of recent financial crisis, large banks have been considered as important factors in financial markets in the world, since these banks' failure could affect the whole economy by extending systemic risk. With regard to this issue, when large banks fac More

AbstractIn the wake of recent financial crisis, large banks have been considered as important factors in financial markets in the world, since these banks' failure could affect the whole economy by extending systemic risk. With regard to this issue, when large banks face insolvency or bankruptcy, larger part of economy would be affected, and with the interconnectedness between banks and financial institutions, the effects of large banks' bankruptcy will have greater impact on the real economy. After financial crisis, many studies have concentrated on the failure of TBTF banks, and the role of these banks in the incident of financial crisis. Number of specialists emphasize on bank size and Basel Committee on Banking Supervision regulated by the classification of banks and their systemically important banks. The study of risk among systemically important banks is important to Basel Committee on Banking Supervision. Many studies confirm that larger banks tend to have less capital, less stability and sustainability of resources, and higher risk-taking activities, therefore, larger banks have become fragile in financial markets. Moreover, the other explanatory variables such as inflation and GDP growth have negative and positive effects on deposits volume in Iran respectively.  Manuscript profile

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129 - Competitiveness and Business environment
mohmmad kamalipour reza zeynalzadeh

Competitiveness level in world countries is one of significant factors, which considers many of macro and microeconomic variables. This index plays a vital role in survival of every country and it is considered as a tool for achieving favorable economic growth and susta More

Competitiveness level in world countries is one of significant factors, which considers many of macro and microeconomic variables. This index plays a vital role in survival of every country and it is considered as a tool for achieving favorable economic growth and sustainable development in any country.Hence, it is essential to study factors creating the proper field for competition between economic agents in order to make companies' activity more competitive in the industry and markets. Therefore, this study was conducted to examine effect of competitiveness on the business environment in selected Islamic countries. In this research, effect of basic requirement indicators, efficiency rise, innovation, government's consumption expenditure, liquidity and exchange rate changes were examined on business environment of 16 Islamic countries during 2000-2017. Panel data method with fixed effects was used to estimate the model. Statistical information associated with collected data were analyzed using Eviews10 Software. Research results showed that basic requirement indicators, efficiency and innovation rise had positive and significant effect on the business environment. recommended to government to provide essential infrastructures and improve the macroeconomic environment and other relevant indicators in order to have a competitive market. Manuscript profile

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130 - Modeling of Political Communications of the Board of Directors and Credit Risk Empirical Evidence of Iran's Interest-Free Banking System (Dynamic Panel Data Approach
Ali Heydari Ezatullah Abbasian Farzaneh KHalili

The purpose of This study attempts to investigate the effects of interactions between politically connected CEO (PCCEO), independent directors, and credit risk of banks in an emerging country. It has been widely stated in the theoretical literature that political connec More

The purpose of This study attempts to investigate the effects of interactions between politically connected CEO (PCCEO), independent directors, and credit risk of banks in an emerging country. It has been widely stated in the theoretical literature that political connections increase the value of organizations. Political connections may have a positive or negative effect on the performance of the bank. answering the question of whether banks' political connections have a positive or negative impact on their financial performance cannot be answered with certainty. In this study, commercial banks include 16 banks for the period 1390-1396. To collect the required data for the banks listed on the Tehran Stock Exchange, the database of Codal publishers was used. The information contained in the performance report of Iranian banks collected by the Higher Institute of Banking of Iran was also used. For investigation of this issue, we employ the SGMM method (System Generalized Method of Moments) or in other words, dynamic GMM approach, and we find politically connected boards to exert significant influence on credit risk. Manuscript profile

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131 - The Effect of Dividend Policy on Stock Price Variability
Rezvan Hejazi Rohollah Gheitasi Mir Sajjad Mosajed Mousavi Sajedeh Rezaei

Dividend income is an important part of the corporate stock assessment methods and determines the dividend policy can be important for researchers and investors. The purpose of this study survey the relationship between dividend policy and stock price changes in the Teh More

Dividend income is an important part of the corporate stock assessment methods and determines the dividend policy can be important for researchers and investors. The purpose of this study survey the relationship between dividend policy and stock price changes in the Tehran Stock Exchange. The population of this study is all nonfinancial firms listed in Tehran Stock Exchange during the years 1383 to 1388. Control variables include the size, variability of profits, debt ratios and asset growth. The least squares regression and panel fixed effects model was used. This study shows that dividend policy played a key role in the company's stock price changes in the Tehran Stock Exchange. Manuscript profile

Open Access Article

132 - The impact of financial flexibility on capital structure decisions with Using Brian Clark and Farkland and Wang
Ali Najafi moghadam

In the present study attempts to explore the relationship between the cash value (financial flexibility) and financial leverage (capital structure) examined the impact of flexibility was studied capital structure decisions.Terms of increase or decrease in the past years More

In the present study attempts to explore the relationship between the cash value (financial flexibility) and financial leverage (capital structure) examined the impact of flexibility was studied capital structure decisions.Terms of increase or decrease in the past years. And we can conclude that this hypothesis can not be confirmed based on Brian Clark. But Fvlkandr model and Wang demonstrated that financial flexibility and leverage in recent years, and this year there was a significant relationship According to Clark 2011 match. When the final value of financial flexibility is high, the influence of variables (eg, interest, depreciation and amortization expense, fixed assets, etc.), the leverage will be of little importance and little visible change in their leverage. Companies that have high marginal value of financial flexibility are inclined to maintain the current period debt capacity significantly, it is likely that in the near future, but a deliberate attempt to temporary deviations from their target leverage ratios.   Manuscript profile

Open Access Article

133 - Causal Relationship Between Health, Education And Economic Growth In A Selected Developing Countries
moloud jafari maryam jafari M. Emadzadeh

Achieving sustainable economic growth requires a lot of investment in infrastructure to increase production capacity and revenue. These investments include not only physical investment, but also human investment, research and innovation, education, health and labor migr More

Achieving sustainable economic growth requires a lot of investment in infrastructure to increase production capacity and revenue. These investments include not only physical investment, but also human investment, research and innovation, education, health and labor migration. Thus, one of the most important factors affecting economic growth, in addition to labor and physical capital, is human capital.This article examines the causal relationship between education, health, and economic growth in 12 developing countries during 1983 - 2020. For this purpose, using Granger's causality method for panel data, the causality relationship between these three variables is examined in the short -run. In order to estimate the long-run relationship, Dynamic Ordinary Least Squares (DOLS) method is also used. The results indicate that in the long-run, there is a two-way causal relationship between the economic growth index and the health index, as well as a two-way causal relationship between the health index and the education index. However, there was no causal relationship between education and economic growth in the long- run, although in the short -run there was only one causal relationship between economic growth and the education index. Manuscript profile

Open Access Article

134 - The impact of E-commerce and ICT on economic growth of using the translog function
bahram sahabi parisa shakerpur dariush tahmasebi

Genesis is the first computer programming and core microelectronics and information technology revolution was the source of the transistor, occurred in the twentieth century. This technological revolution geographical boundary destroyed and the economy countries affecte More

Genesis is the first computer programming and core microelectronics and information technology revolution was the source of the transistor, occurred in the twentieth century. This technological revolution geographical boundary destroyed and the economy countries affected and changed it. The effects of this revolution in developing countries have the appropriate infrastructure and the competitive environment is not necessary and can be seen in developed countries. In this paper, the effect of e-commerce and ICT on economic growth of developing countries and the developed countries in selected industries concerned. In an experimental model of economic growth estimate for this group of countries, the data of human capital, physical capital, labor, the number of domain name, bandwidth, number of Internet users, the number of websites and quality of ICT infrastructure and data boards translog function (panel data) in the period 2000 to 2013 is used. The results indicate that e-commerce and ICT is one of the factors influencing economic growth, so that the majority of the variables have a significant impact, positively and directly on economic growth. Manuscript profile

Open Access Article

135 - The impact of tax revenues on income distribution in selected countries
Niloofar Ghafarisomeh parvaneh salatin samaneh mohammadi

One of the important purposes of governments and policymakers are economic system in an attempt to fair distribution of income. In this regard ownerships are one of the most powerful tools for the fair income distribution and the main elements of the countries' economic More

One of the important purposes of governments and policymakers are economic system in an attempt to fair distribution of income. In this regard ownerships are one of the most powerful tools for the fair income distribution and the main elements of the countries' economic driver. Hence, the main purpose of this paper is review of the effectiveness of incomes tax as an indicator of Ginny coefficient shows income distribution. The results from estimating model by using the Method of Generalized Method of Moments (GMM) during2000-2013 in the group of the selected countries shows that tax incomes have meaningful and negative effect on Ginny index as an indicator shows the distribution of income in the country is selected. One of the important purposes of governments and policymakers are economic system in an attempt to fair distribution of income. In this regard ownerships are one of the most powerful tools for the fair income distribution and the main elements of the countries' economic driver. Hence, the main purpose of this paper is review of the effectiveness of incomes tax as an indicator of Ginny coefficient shows income distribution. The results from estimating model by using the Method of Generalized Method of Moments (GMM) during2000-2013 in the group of the selected countries shows that tax incomes have meaningful and negative effect on Ginny index as an indicator shows the distribution of income in the country is selected Manuscript profile

Open Access Article

136 - The Study of the relationship between Exchange Rates and the Total Factor Productivity (TFP) Growth: An Empirical Analysis Based On Panel Data in Selected Countries
Mohammad Reza Shahab

Productivity is one the important concepts and fundamental necessity for the economic growth and development of all countries of the world. Hence, the study and identification of variables and factors influencing it, is essential especially for appropriate policymaking. More

Productivity is one the important concepts and fundamental necessity for the economic growth and development of all countries of the world. Hence, the study and identification of variables and factors influencing it, is essential especially for appropriate policymaking. The main objective of this study can be served as an investigation of the effect of exchange rate fluctuations on the TFP growth and to achieve this, the third class of endogenous growth theories have been considered in order to design hypotheses and model.To test hypotheses, the panel data methodology is employed for the period of 2000 to 2009 and the specified model is estimated for 7 selected countries of APO members including I.R Of Iran in deferent approaches and in order to determine the presence and type of effects, the Leamer and Hauseman tests are carried out.The results of estimations confirm our two hypotheses and statistically indicate that the significant relation between exchange rate fluctuations and TFP growth cannot be rejected so that the TFP growth will decline if the exchange rate increases and vice versa. Furthermore, the study has several consequences which are concerned with the effects of other variables on the TFP growth, such as the degree of openness to foreign trade and inflationary circumstances. Policy recommendations have been discussed in the terminal sector of paper.  Manuscript profile

Open Access Article

137 - The Impact on Economic Growth of Sports Facilities
S. Kaghzyan Y. Naghdi B. Faraji Rostaghi

In this study the effect of sport facilities in terms of the number of the sport statiums on economic growth was followed. Panel data for 2000 to 2011 for two groups of middle income and high income countries were used. For the analysis a sgsellion model was estimated. More

In this study the effect of sport facilities in terms of the number of the sport statiums on economic growth was followed. Panel data for 2000 to 2011 for two groups of middle income and high income countries were used. For the analysis a sgsellion model was estimated. The results showed that the sport facilities had positive effect on economic growth of the high income countries. This effect was negative for the tow income once, however. The result for loth country growes was statisieally lignificant. 1. Sport facilities are of these factor affecting economic growth. 2. In this study the effect of sport facilities in terms of the sport statiums on economic growth was followed. Panel data for 2000 to 2011 for two growps of middle income and high income countries were used. For the analysis a sgsellion model was estimated. The result showed that the sport facilities had positive effect on economic growth of the high income countries. This effect was negative for the two income ones, however. The result for loth country groups was statistieally significant. Manuscript profile

Open Access Article

138 - Analysis of the Financial Sector on Income Distribution: (Dynamic Panel Data Approach)
R. Aleemran siamak shokouhifard

The relationship between financial development and income distribution is one of the main issues in the macroeconomic literature and has been considered empricially in recent years. Hence, the main aim of this paper is to investigate the impact of financial development More

The relationship between financial development and income distribution is one of the main issues in the macroeconomic literature and has been considered empricially in recent years. Hence, the main aim of this paper is to investigate the impact of financial development on the income distribution during the 2001-2015 by applying dynamic panel data approach for selected countries of the OIC. The results of this study indicate that, the financial sector development in selected countries of the OIC has reduced income inequality. The effect of financial development on poverty is positive and significant at 5% level. Based on these results a percentage increase in the index of financial development, leading to increased consumption per capita cost at 0.07 percent and reduce poverty in selected countries of the OIC. By the results of this paper, the main policy implication of this study is that the policy makers in thease countries should adopt the monetary policies to emprove the income distribution of reduce the poverty. Manuscript profile

Open Access Article

139 - A Survey of Information and Communication Technology (ICT) Effect on Tourism Industry in Selected Countries and Iran
Ali SHAHINPOUR H. Gharehbiglo N. BanimohammadTagi

Considering tourism industry and the factors affecting its spread for achieving its economic benefits has done the researches on identification of factors affecting the tourism industry quite necessary. The industry needs to develop one of the most important information More

Considering tourism industry and the factors affecting its spread for achieving its economic benefits has done the researches on identification of factors affecting the tourism industry quite necessary. The industry needs to develop one of the most important information tools of Information and Communication Technology (ICT) has caused examine the relationship between the two variables is the main goal of this study. Tourism industry has been considered as sustainable industrial in the third millennium, because of the economic context of globalization attracted economic policies. Improvement of Information and Communication Technology (ICT) has been caused the tourists to check and assess the condition of their travel destinations before traveling. The article explained the effects of ICT, Globalization, Reel per capita gross domestic product and Human capital variables on tourism industry performance by panel regression method in the period 2003-2012 in 28 selected countries. According to the results, all variables are affecting tourism industry positively. So, to clarify and improve the performance of the economy, ICT expansion is suggested Manuscript profile

Open Access Article

140 - Estimation of the Effects of Foreign Direct Investment on Trade Flows of Industrial Sector in OECD Countries
K. Azarbayejani H. Karimi-Hasnicheh S. Nagheli

Foreign direct investment(FDI) can increase the capacity for producing export goods.The purpose of this study was to investigate the relationship of FDI to industrial trade flows (ITF) in the OECD countries by using gravity model and pooled data for the years of 2000 to More

Foreign direct investment(FDI) can increase the capacity for producing export goods.The purpose of this study was to investigate the relationship of FDI to industrial trade flows (ITF) in the OECD countries by using gravity model and pooled data for the years of 2000 to 2007. The results showed that there was a positive and statistically significant relationship of FDI to ITFin the countries under study. Also, such other factors as national income and size of population had positive and statistically significant effects on ITF. Geographical distances had negative effects, however. Manuscript profile

Open Access Article

141 - Measurement and Analysis of the Productivity of Factors of Production into Separate Economic Sectors Bushehr Province, Iran
S. Nargesi Heshmatolah Asgari

Due to the limited resources, the necessity of increasing productivity and the use of production factors in activities that are the most important. This study aimed to measure the productivity of the production of various economic sectors in the province for years of 20 More

Due to the limited resources, the necessity of increasing productivity and the use of production factors in activities that are the most important. This study aimed to measure the productivity of the production of various economic sectors in the province for years of 2000-2007. Using the production function and panel data techniques and methods Solow residual productivity of production factors calculated. Based on the results, average total factor  productivity , capital and labor in the study had abnormal trend and volatility are rising or falling. The mining industry and the highest rates of growth in productivity and labour and the communications sector as well as the highest average productivity of the capital. Manuscript profile

Open Access Article

142 - Effects of Income Integration and Trade Flow Expansion on Economic Growth of Iran and Her Partners Including OECD Countries
K. Tayebi S. Daee Karim-Zadeh M. Ramazani

In this paper the interaction effects of income integration and the trade flow expansion in Iran and her partners including OECD countries in the period of 1996 to 2006 was analyzed.The purpose of this research was analyze the interaction effects of  income integra More

In this paper the interaction effects of income integration and the trade flow expansion in Iran and her partners including OECD countries in the period of 1996 to 2006 was analyzed.The purpose of this research was analyze the interaction effects of  income integration and trade flow and the factors affecting it. The analytical model was developed on the basis of the regression model was usedby Soderbon and teal. The employeddata was of a panel type. The results showed that income integration and trade flows had reversal positiveand statistically effect on each other. Therefore a complementary relationship revealed between income integration and trade flows. Also, trade flows, labor resource and physical capital had positive effects on economic growth whereas, income integration did not Manuscript profile

Open Access Article

143 - Effect of Income Inequality on Consumption Expenditure Inequality in Iran, 1982-2007
M.H. Fotros R. Maaboudi

On the basis of macroeconomic consumption theories, consumption behavior as compared to income is more stable. Overtime income inequality that is, appeared as fluctuation and dispersion in income, would affect consumption expenditure. In this paper the extent of consump More

On the basis of macroeconomic consumption theories, consumption behavior as compared to income is more stable. Overtime income inequality that is, appeared as fluctuation and dispersion in income, would affect consumption expenditure. In this paper the extent of consumption expenditure inequality that are caused by income fluctuation and dispersion was analyzed. The inequalitiesof household consumption expenditure were analyzed for eight goods and services categories. Urban household budget panel data for the years of 1982 to 2007 were used and causal relationship between the variables analyzed. The results showed that not all of the fluctuation and dispersion in income were transferred to consumption expenditure. Therefore, consumption expenditure was less dispersed than income. Manuscript profile

Open Access Article

144 - Investigating the Impact of Terrorism on Economic Growth in the Middle Eastern Countries: A Panel Data Approach
Mehrzad Ebrahaimi Mojtaba Kefayat Hashem Zare Abbas Aminifar

Terrorism is a complex phenomenon without a comprehensive definition of it, as many scholars have defined the term terrorism based on their own understanding of it. Terrorism and its consequences go beyond the aspects of fear, terror and loss of life and property. The l More

Terrorism is a complex phenomenon without a comprehensive definition of it, as many scholars have defined the term terrorism based on their own understanding of it. Terrorism and its consequences go beyond the aspects of fear, terror and loss of life and property. The link between security and economic growth is essential, because economic development cannot happen without security, and peace and security without growth may not be sustainable. According to the literature, terrorism has a direct impact on economic growth. Terrorism, conflict and violence destroy direct foreign and human capital and weaken political and social institutions that have a positive impact on economic growth. With this in mind, the purpose of this study is to investigate the effect of terrorism on economic growth in Middle Eastern countries during the period 2018-2000 using the combined data method. The results of this study showed that the number of terrorist incidents and those killed in terrorist attacks had a negative and significant effect on the economic growth of the studied countries. According to other results, it has been observed that human development index, foreign direct investment, bank credit and foreign trade have a positive and significant effect on economic growth. Inflation rate has a negative and significant relationship with economic growth Manuscript profile

Open Access Article

145 - The impact of natural resource rents on entrepreneurship development (Case Study selected countries)
yousef mohammadzadeh farhad rahbar hadi ghahramani

Entrepreneurship is considered one of the most important management strategies both at the micro level of firms and the macro-economic level. Unhealthy Institutional structure and lace of dynamism of the private sector are the important obstacles in entrepreneurial path More

Entrepreneurship is considered one of the most important management strategies both at the micro level of firms and the macro-economic level. Unhealthy Institutional structure and lace of dynamism of the private sector are the important obstacles in entrepreneurial path. Among existence the variety of natural resource rents have a profound impact on the institutional structure, the size of the public sector, limitations on market mechanisms and economic freedom's activists. Considering the importance of this issue, this study paid the effect of resource rents on entrepreneurship development. To do this, panel data selection of the world with dynamic panel approach and Stata software has been used. The results show that existance of resource rents have a negative impact on the development of entrepreneurial activities in countries that have been studied. So abundant natural resources has not been used in the investment and support private sector. Examine other factors affecting the development of entrepreneurship also show that domestic production per capita, ICT, openness and the corruption control index have positive impact and government size has a negative impact on the development of entrepreneurial activities. Manuscript profile

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