Zakria Farajzadeh; Bahaeddin Najafi
Volume 6, Issue 20 , October 2004, , Pages 135-156
Abstract
Subsidizing is one of the income transfer channels that are mainly paid in order to protect low-income groups and improve the income distribution. Budgetary constraints of developing countries and necessity of providing the poor with their basic needs are the main reasons of targeting subsidies. ...
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Subsidizing is one of the income transfer channels that are mainly paid in order to protect low-income groups and improve the income distribution. Budgetary constraints of developing countries and necessity of providing the poor with their basic needs are the main reasons of targeting subsidies. Evaluating the current consumption pattern of choosen commodities indicates a significant difference between rural and urban deciles in terms of physical amount and allocated expenditures. So, in terms of quality and quantity, higher income deciles are now more benefited. Consumption behavior of rural and urban consumers also revealed that the subsidized commodities are consumed as a complementary set. Impact of increasing price of the subsidized commodities on calorie intakes, income of deciles and poverty indices was investigated by using different scenarios of price increment. The nutritional effects of increasing price of all commodities together show that rural consumers is affected more than urban ones. In terms of calorie intakes through the most of deciles, increment of rice price affect urban consumers more than rural consumers and in the case of bread a reverse trend is observed. Among the rural and urban income deciles reduction in calorie intakes is also relatively irregular. Considering the income effects of increasing price of sugar and bread indicate that rural consumers experience a more reduction in income relative to urban consumers. The price increment of rice and all commodities together mainly affect low-income deciles in urban regions and high income deciles in rural regions. Based on the results, it is suggested that income deciles in both rural and urban regions to be recognized and subsidized commodities to be distributed among the deciles located under poverty line. However, in case of reduction in subsidies, it should take place by selected commodities and gradually.
Mostafa Salimifar; Masoud Ghavi
Volume 4, Issue 13 , February 2003, , Pages 135-170
Abstract
This paper has been extracted from a research project entitled: " A Survey of the Effects of Bank' Credits on Private Investment in Iran and Explanation of Its reasons." In order to do this, we studied the, neoclassics theories of investment. Then, keeping in mind the particular conditions ...
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This paper has been extracted from a research project entitled: " A Survey of the Effects of Bank' Credits on Private Investment in Iran and Explanation of Its reasons." In order to do this, we studied the, neoclassics theories of investment. Then, keeping in mind the particular conditions of the country an appropraite model for private investment of Iran have designed in which, the investment is a function of governmental investment, gross national product(GDP), inflation rate and banks credits to private sector.
The results (from the estimation of the model) indicated that the credits have had a significant effect on the private investment during the period under study. Monetary and credit policies, structural factors and substitution of money and capital are the main reasons of the positive relationship.
Behrooz Hadi Zonooz; Parvaneh Kamali Dehkordi
Volume 13, Issue 39 , July 2009, , Pages 136-113
Abstract
This paper investigates the effects of Foreign Direct Investment (FDI) on economic growth. For this purpose we have set up a panel data for 67 countries during the years 1980-2004.All of these countries have been successful in absorbing FDI during this period. Since socio-economic characteristic ...
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This paper investigates the effects of Foreign Direct Investment (FDI) on economic growth. For this purpose we have set up a panel data for 67 countries during the years 1980-2004.All of these countries have been successful in absorbing FDI during this period. Since socio-economic characteristic of these countries is diametrically different, we have classified our sample into four groups as follows: a)Countries which their performance indicators in absorbing FDI is higher than their potential indicator for absorbing FDI, b)the developing countries that have good performance in absorbing FDI ,c)Non-oil developing countries that have good performance in absorbing FDI, d) Some oil producing countries such as Iran, Saudi Arabia, Nigeria, Indonesia, Algeria and Venezuela. To test our hypothesis on positive effects of FDI on economic growth we have benefited from Mankiw , Romer, &Weil (1992) model. The results of our estimates shows that:Firstly, in all countries there is a positive relationship between FDI and growth,Secondly, the magnitude of the effect decreases when we move from the first group to the fourth group. Specially it is worth mentioning that there is a significant difference between oil and non-oil countries. Actually in the oil producing countries the determinants of growth has been significantly different compared to the other developing countries.
Gholamreza Keshavarz Haddad; Mohammad Mirbagheri jam
Volume 9, Issue 32 , October 2007, , Pages 137-160
Abstract
The residential and commercial sectors are the main consumers of natural gas in Iran. The demand for natural gas in these sectors is on its peak in the cold seasons for the heating. In addition to changes in temperature, which is the main determinant of demand fluctuation in energy, other factors such ...
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The residential and commercial sectors are the main consumers of natural gas in Iran. The demand for natural gas in these sectors is on its peak in the cold seasons for the heating. In addition to changes in temperature, which is the main determinant of demand fluctuation in energy, other factors such as unobservable seasonal shocks affect the seasonal demand. Moreover, observable economic factors such as price and income, as well as non economic factors, like changes in consumer’s taste and technical progresses, affect the energy demand. In this paper, we use an applied structural time series model (STSM) approach, which considers both stochastic trend and stochastic seasonality, to estimate the price and income elasticities for the natural gas demand in Iran. We apply the kalman filter with a maximum likelihood estimation method to provide unbiased estimators for the parameters. According to our results, although the estimated demand for natural gas does not have a trend component, the nature of seasonal component is stochastic. The elasticity of demand with respect to temperature is -0.26 percent and the long-run income and price elasticities are 0.17, -0.13, respectively.
Elham Farzanegan
Abstract
In this paper, we employ a new generation of multivariate volatility models, i.e. ADCC, GO-GARCH and Copula-GARCH to estimate and investigate the hedging performance for Bahar-Azadi Gold Coins spot markets (GC) and Futures market (GCF), during 27/10/2010 to 21/7/2016. The empirical results show that ...
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In this paper, we employ a new generation of multivariate volatility models, i.e. ADCC, GO-GARCH and Copula-GARCH to estimate and investigate the hedging performance for Bahar-Azadi Gold Coins spot markets (GC) and Futures market (GCF), during 27/10/2010 to 21/7/2016. The empirical results show that the hedge ratios estimated from the GO-GARCH model are preferred (most effective) for hedging GC prices with GCF. The results also show that the spot and futures prices tend to co-move in times of market stress. Indeed, those investors who hold diversified portfolios of gold coin and gold coin futures may face significant losses in a bear market. Here a short position on the gold coin futures may be beneficial to gold coin investors because it helps reduce the portfolio’s extreme losses.
Seyed-nezamuddin Makiyan; Mohammad Reza Izadi
Abstract
Among the important factors that affect on economic growth such as physical and human capital, openness of economy etc., the role of financial intermediaries on economic growth has been overlooked. This research aims to investigate the role of financial structure and development as the indices of financial ...
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Among the important factors that affect on economic growth such as physical and human capital, openness of economy etc., the role of financial intermediaries on economic growth has been overlooked. This research aims to investigate the role of financial structure and development as the indices of financial system development on economic growth. To this end, the study uses a regression analysis applying FMOLS method for the period of 1989 to 2011 for the selected Islamic countries. The results indicate that variables of financial structure and financial development have significant positive effects on economic growth. According to the findings, financial system based on market approach is more effective concerning the economic growth. Furthermore, the Granger Causality test indicates that there is a one-way causal relation between development of financial system and economic growth in the short run; however, this relationship has a two-way direction in the long run confirming the Patrick’s viewpoint of development.
Hamid Sepehrdoust
Volume 17, Issue 50 , April 2012, , Pages 139-157
Abstract
Iran has been host to the largest number of migrants in the form of Afghan refugees since 1982. These refugees have been permitted to find jobs in Iranian labour market, particularly in the labour intensive markets like manual jobs and construction activities which could not easily be filled by Iranian ...
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Iran has been host to the largest number of migrants in the form of Afghan refugees since 1982. These refugees have been permitted to find jobs in Iranian labour market, particularly in the labour intensive markets like manual jobs and construction activities which could not easily be filled by Iranian workers. The research provides a critical review of the impact of migrated Afghan labourers on the efficiency performance of the construction sector of Iranian economy during the period 2006 – 2009, using data envelopment analysis. Results show that, despite the high costs incurred by Iran as host to more than one million refugees, it also benefited from the presence of Afghans. Statistical analysis shows that there is a significant difference between the efficiency scores of the provinces using more migrant Afghan labour force and those having less concentration of such labourers in construction activities. That means most of the technically efficient states in construction activities have the opportunity to employ Afghan workers, since they used to be a very competitive and flexible labour force with unattractive payment. As a result the repatriation program of the Iranian government on Afghan refugees could be limited because of the low levels of substitution among Afghan and Iranian workers in the field of construction.
Ali Mohammad Kimiagari; Reza Manuchehri Rad
Volume 15, Issue 45 , February 2011, , Pages 139-180
Abstract
One of the most fundamental outputs of social security systems is the redistribution mechanism. With moving from FUND to PAYG position and vice versa, the system shows intergenerational redistribuation and within-cohort redistribuation effects, depends on financial organization. According to the law, ...
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One of the most fundamental outputs of social security systems is the redistribution mechanism. With moving from FUND to PAYG position and vice versa, the system shows intergenerational redistribuation and within-cohort redistribuation effects, depends on financial organization. According to the law, the mechanism considered for social security system in IRAN is FUND. Thus, we expect within-cohort redistribuation. This research tests this important note with evaluating insured individual accounts. The resualts show, in different target population deciles, internal rate of return (IRR) is 47 to 85% with average 53% and benefit – cost ratio (B/C) is 2.6 to 10.3 with average 3.7. This indicates that the necessary investment rate is 53%, while with current optimistic assessment, this rate is 30% for long-term, which shows intergenerational redistribuation. The effect inflation increase on redistribution test indicates current and future generation losses and also intensifying intergenerational redistribuation
Gholamali Parham; Bahareh Azizi
Volume 18, Issue 55 , July 2013, , Pages 141-158
Abstract
In this article, the monthly data of Bahar Azadi gold coin price is studied by using Partially Exchangeable Sequences for a period of 27 years. The data based on the increasing or decreasing prices in comparison to the previous month generate a sequence of success and failure runs. The goal is ...
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In this article, the monthly data of Bahar Azadi gold coin price is studied by using Partially Exchangeable Sequences for a period of 27 years. The data based on the increasing or decreasing prices in comparison to the previous month generate a sequence of success and failure runs. The goal is to obtain the trend of ascending or descending of coin price by using runs. First, we verify partially exchangeability and determine the order of dependency data by using Monte Carlo simulation. Then, we determine the expected waiting time to achieve the first success runs of different lengths. The results show that the data are partially exchangeable with order one, and the average time to observe an increasing trend of the price of coin for the maximum six months is predictable.
Hasan Taee; Javid Bahrami; Nazila Baghery
Volume 14, Issue 43 , July 2010, , Pages 141-160
Abstract
The main concern in all economic activities is to obtain maximum output using minimum resources. That is the reason why the wages should be set with respect to productivity. To what extent the wages in practice are set in accordance with productivity is the main subject of our study. We use the survey ...
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The main concern in all economic activities is to obtain maximum output using minimum resources. That is the reason why the wages should be set with respect to productivity. To what extent the wages in practice are set in accordance with productivity is the main subject of our study. We use the survey of large manufacturing establishment’s data set for twenty two industries during 1373-1384 (1996-2005) to estimate the wage equation. Our findings indicate that there is some significant relation between wage, productivity, skills and education. However, labor productivity has trivial role in wage determination in comparison to other explanatory variables
Mohamad Hasan Fetros; Mehdí Torkamani
Volume 11, Issue 35 , July 2008, , Pages 141-158
Abstract
This paper studies the price change transmission mechanism from producer price index to consumer price index using Vector Autoregressive (VAR) model. We use the monthly data on the PPI, WPI, and CPI for the period 1990:4 to 2005:3 The results from impulse response function suggest that a positive ...
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This paper studies the price change transmission mechanism from producer price index to consumer price index using Vector Autoregressive (VAR) model. We use the monthly data on the PPI, WPI, and CPI for the period 1990:4 to 2005:3 The results from impulse response function suggest that a positive shock in PPI makes the WPI and CPI to rise immediately and it lasts for more than 12 months. Moreover, a positive shock in WPI makes CPI to rise but it becomes statistically insignificant in less than 6 months. Moreover, the variance decomposition of CPI suggests that PPI is the most influential factor in CPI changes, The variance decomposition of WPI also suggests that PPI is a significant factor in WPI changes.
Ali Hossein Samadi
Volume 6, Issue 18 , April 2004, , Pages 141-155
Abstract
In this paper, we decompose multiplicatively indices of value instability of agricultural exportable and importable products into price instability, quantity instability, and interactive instability. Indices of Iran’s agricultural trade instability correspond to 26 exportable and 22 importable. ...
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In this paper, we decompose multiplicatively indices of value instability of agricultural exportable and importable products into price instability, quantity instability, and interactive instability. Indices of Iran’s agricultural trade instability correspond to 26 exportable and 22 importable. The period of analysis runs from 1981-1999. The main results of this paper are: - Iran’s agricultural exports and imports both vary in degree of instability. - In the cases of several exportable and importable , quantity instability has been the determining factor of value instability - On the average, exports have been subject to relatively higher price and value instability than imports, but imports have been subject to higher quantity instability than exports. The study also makes some recommendations to reduce instabilities and to increase competitiveness in Iran.
mohammad amin Kouhbor
Volume 17, Issue 52 , October 2012, , Pages 143-168
Abstract
In this article Iranian expenditure for dairy is estimated using rural and urban income expenditure survey of 1388. The aim is to examine the factors affecting participation and consumption decision for dairy food on Iranian households. So, we applied box- cox double hurdle modeling adjusted for heteroscedasticity ...
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In this article Iranian expenditure for dairy is estimated using rural and urban income expenditure survey of 1388. The aim is to examine the factors affecting participation and consumption decision for dairy food on Iranian households. So, we applied box- cox double hurdle modeling adjusted for heteroscedasticity and non normality. Subsequently utilizing the estimated coefficients with STATA programming, expenditure elasticities were calculated at the mean and the margin. Results indicate the effects of demographic variables such as age, urban or rural, education, and household size on dairy expenditure. also, economic variables such as own price, household's income and dairy price index can be affect the dairy expenditure payed by each household.
Mohammad Nabi Shahiki Tash; Javad Taherpoor; Ali Nourozi
Abstract
In this study, by employing a flexible cost function we calculate the technological change measure and total factor productivity and examine the impact of technology on the combination of input and scale of production in Iranian manufacturing industries. According to the results of technological change ...
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In this study, by employing a flexible cost function we calculate the technological change measure and total factor productivity and examine the impact of technology on the combination of input and scale of production in Iranian manufacturing industries. According to the results of technological change at the average data level, total production cost of industry has decreased by an amount of 0.49 percent during the period 1996-2009. All 23 studied industries have deviation from input technology. In addition, technological change has led to saving in raw materials and to an increase in the use of three inputs of labor, capital, and energy. The technological change is non-neutral and has led to changes in production scale and based on the technology scale bias, technological change has led to a decrease in optimal production scale.
Ahmad Gholi Barkish
Abstract
The aim of this study is to investigate the long memory properties along with structural breaks in the returns of the TEPIX. For this purpose, the properties of the long memory in the daily returns for three periods leading to September 23, 2013 were evaluated using semi- and non-parametric methods. ...
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The aim of this study is to investigate the long memory properties along with structural breaks in the returns of the TEPIX. For this purpose, the properties of the long memory in the daily returns for three periods leading to September 23, 2013 were evaluated using semi- and non-parametric methods. The results show the existence of long memory properties in all periods which may be misleading due to the ignorance of possible structural breaks. Therefore, this paper considers the properties of long memory in the presence of structural breaks using the Bai and Perron test (1998, 2003). In order to examine the null hypothesis of long memory against the alternative of a structural break, we employ the Shimotsu test (2006). In contrast to past findings, we find that the long memory properties of TEPIX are sensitive to the period of analysis. The results suggest that one should be careful about the inference of long memory in the presence of structural breaks or regime changes.
Reza Najarzadeh; Mehran Maleki
Volume 7, Issue 23 , July 2005, , Pages 147-163
Abstract
Capital is considered to be the engine of economic growth and development. Developing countries, however, are short of this pivotal factor of economic well beings. Until not too long ago these countries used to resort to borrowings from abroad to furnish this shortage. But in recent years, ...
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Capital is considered to be the engine of economic growth and development. Developing countries, however, are short of this pivotal factor of economic well beings. Until not too long ago these countries used to resort to borrowings from abroad to furnish this shortage. But in recent years, the developing countries have faced mounting foreign debts on one hand, and their inability to payoff these debts on the other hand. They are gradually being attracted to foreign investments. In this article, the impact of FDI on economic growth has been studied. The results indicate that FDI has a positive impact on the economic growth of the five countries under study (Indonesia, Malaysia, Venezuela, Saudi Arabia and Iran). Moreover, the degree of this impact is influenced by the quality of the human capital of each country. This fact holds not only for FDI but also for domestic investments as well.
Sadegh Bakhtiari; Hossein Ali Farahmand
Volume 4, Issue 10 , April 2002, , Pages 147-181
Abstract
The decision on how to allocate resources among the production of commodities and among the organizations that produce them is the main issue of economics and it is important for both developed and developing countries.By considering the problems of international trade and the scarcity of foreign exchanges ...
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The decision on how to allocate resources among the production of commodities and among the organizations that produce them is the main issue of economics and it is important for both developed and developing countries.By considering the problems of international trade and the scarcity of foreign exchanges optimum allocation of resources is even more crucial for developing countries.Since the relative advantage theory is the foundation of international trade, relaying on it for exporting goods is one way to overcome the aforementioned problems.Statistical data indicates that during the last few years by increasing domestic production of cement, its import has declined and now the country needs to find foreign markets for its exports. The province of Isfahan has two important cement plants and it is a good case for analyzing the mentioned problems. The paper’s findings indicate that the Isfahan Province has a relative advantage in the production of cement. The price analysis shows that the DRC (Domestic Resource Cost) is elastic in response to a reduction in cement world prices and it is inelastic with respect to the changes in foreign exchange rate.
Hosein Mohammadi; Mahboubeh Narouei
Volume 19, Issue 61 , February 2015, , Pages 149-171
Abstract
Many economists insist that the financial market is a key factor in economic growth due to the role of financial markets in financing and capital formation in different countries. With the development of endogenous growth models in recent decades, researchers pay more attention to the relation between ...
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Many economists insist that the financial market is a key factor in economic growth due to the role of financial markets in financing and capital formation in different countries. With the development of endogenous growth models in recent decades, researchers pay more attention to the relation between financial markets and economic growth. In this study, the empirical relationship between Foreign Direct Investment in dealing with financial development on economic growth investigated in 25 Islamic countries over the period 1990 to 2012 using Generalized Method of Moments (GMM). The results show that the interaction between foreign direct investment and market-based indicators of financial development causes economic growth.
Parviz Mohammadzadeh; Hossein Asgharpur; Mohammad Bagher Beheshti; Ali Rezazadeh
Volume 16, Issue 49 , February 2012, , Pages 151-175
Abstract
The main objective of this paper is to examine of monetary approach to exchange rate determination in 14 MENA countries during 1975-2006. For this purpose, panel cointegration technique has been used to test the basic monetary model and flexible price monetary model of exchange rate determination. The ...
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The main objective of this paper is to examine of monetary approach to exchange rate determination in 14 MENA countries during 1975-2006. For this purpose, panel cointegration technique has been used to test the basic monetary model and flexible price monetary model of exchange rate determination. The empirical results indicate that there is a cointegration relationship between variables of basic and flexible price monetary models and therefore the monetary model is able to convincingly explain the exchange rates in MENA Countries. Hence, it could be concluded in the region the parity domestic currency vs. foreign currencies has been affected by mostly the amount of domestic money and increase (decrease) of amount of domestic liquidity leads to devaluation (evaluation) of domestic money. Also, the results show that there is negative significant relationship between exchange rate and output and positive significant relationship with expected inflation rate in Middle East and North Africa countries. This empirical evidence implies that in addition to liquidity, variables such as expected inflation rate and GDP are important in determination of the equilibrium exchange rate in MENA Countries.
Majid Sameti; Mohammad Reza Ghasemy; Horam Osmanpoor
Abstract
Tax capacities and the lack of justice in taxing Iranian provinces are among the authorities’ concerns. Therefore, identifying the tax capacity of provinces is an inevitable necessity. Various methods of econometrics, Input-Output models, the frontier-function model, and fuzzy time series have ...
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Tax capacities and the lack of justice in taxing Iranian provinces are among the authorities’ concerns. Therefore, identifying the tax capacity of provinces is an inevitable necessity. Various methods of econometrics, Input-Output models, the frontier-function model, and fuzzy time series have been used to estimate tax capacity. The main problem with these methods is that they implement the estimation based on the past data. In this study, the application of fuzzy logic control (FLC) method to determine the tax capacity of the Iranian provinces in the year 2011 is one step in solving this problem. The results of the study showed that except for Tehran, there is a potential tax capacity in other provinces of the country. In most of the provinces, tax effort is not only at low level but it also has a high dispersion, which shows that taxation from the provinces has not been based on justice. Also, ability of tax payment of the country can increase.
Mehdi Yazdani; Hassan Dargahi; Roghayeh Akbari Afrouzi
Abstract
In general, the main objective of monetary policies is to stabilize the key macroeconomic variables, especially the inflation around its target. However, the role of some variables such as the real exchange rate can be important in optimal monetary policy responses to commodity terms of trade shocks ...
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In general, the main objective of monetary policies is to stabilize the key macroeconomic variables, especially the inflation around its target. However, the role of some variables such as the real exchange rate can be important in optimal monetary policy responses to commodity terms of trade shocks in commodity dependent emerging market economies, such as oil-exporting countries. This study tries to examine the impacts of different monetary policy in order to minimize the adverse effects of the economic shocks, by considering the real exchange rate gap into the flexible inflation targeting rule, in the Iranian economy. Hence, using a new Keynesian model, the demand and Phillips curves are estimated by autoregressive distributed lags (ARDL) method, based on the quarterly data during 1991:Q1-2014:Q4 and then a loss function for the central bank is minimized subject to above equations, by using the optimal control approach. According to the results, when the real exchange rate gap is calculated based on the lower targets, existence of this variable in the loss function of the monetary authorities lead to lower losses. But the higher real exchange rate gap is accompanied by higher losses. For summary, dependent on the real exchange rate gap, the monetary author can use the target of the exchange rate as a policy target. However, the flexible inflation targeting monetary framework, with regards to real exchange rate targeting, is not optimal policy in case of more rigid exchange rate regimes.
Fatemeh Kalantar Mahjerdi; Shahnaz Nayebzadeh; Mahmood Moeinoddin
Volume 18, Issue 54 , April 2013, , Pages 153-180
Abstract
The aim of this study was to evaluate productivity and efficiency of intellectual capital of companies listed in Tehran Stock Exchange through Data Envelopment Analysis approach and Malm-quist productivity index. In this study, the automotive industry and component manufacturers listed in Tehran Stock ...
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The aim of this study was to evaluate productivity and efficiency of intellectual capital of companies listed in Tehran Stock Exchange through Data Envelopment Analysis approach and Malm-quist productivity index. In this study, the automotive industry and component manufacturers listed in Tehran Stock Exchange were chosen as pilot, and intellectual capital (human, physical, and structural capital) index was used as input index; stock return, return on assets, and return on equity were utilized as output variables for fifteen companies of this industry between 2006 and 2010. Results from the efficiency of intellectual capital indicated that throughout the years of assessment in this study, it was only a -brake- pad company that had the best performance among the selected companies; this was due to the fact that this company had been able to gain the maximum performance of intellectual capital in the assessed years. Results from the productivity of intellectual capital indicated that in the years between 2006 and 2010, except Saipa, Bahman Group, Zamyad which had a value smaller than 1 for the average productivity rate of their intellectual capital in the investigated growth range, this value was positive for the rest of the selected companies.
Esmaeel Ramazanpoor; Mohammad Hassan Gholizadeh; Abbas Kalantary
Volume 18, Issue 56 , October 2013, , Pages 157-186
Abstract
This study investigates the stability of systematic risk of Tehran stock Exchange and a selected group of emerging stock markets including of Latin America, Asian South eastern and Istanbul Stock Exchange. The study uses time series specification of CAPM model (Black et al, 1972) and employs Bai and ...
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This study investigates the stability of systematic risk of Tehran stock Exchange and a selected group of emerging stock markets including of Latin America, Asian South eastern and Istanbul Stock Exchange. The study uses time series specification of CAPM model (Black et al, 1972) and employs Bai and Perron (2003) structural break point test. The results show that based on Bai and Perron test, there are evidences of structural break in time series CAPM model and hence the instability in systematic risk for Brazil, Chile, Thailand, China, Malaysia and Tehran stock markets. The dynamic estimation results of systematic risk of these stock markets based on MGARCH - BEKK model indicate that, Tehran Stock Exchange has lowest level of systematic risk among other stock markets. The results show that there is significant fluctuation in dynamic trend of systematic risk of these stock markets in particular around structural break point dates. Based on the results, the BEKK model has more accurate performance than linear time series CAPM model for systematic risk forecasting proposes. These results provide useful policy guideline for investors in international risk management.
Mohammad Mowlaei; Razieh Sahrai
Volume 19, Issue 60 , October 2014, , Pages 157-180
Abstract
Industries are one of the most important economic sectors and their growth causes industrial and economical development.There are some important and effective factors which imporve the industrial production growth and the value added of enterprises, such as: Skilful and experienced labor, modern ...
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Industries are one of the most important economic sectors and their growth causes industrial and economical development.There are some important and effective factors which imporve the industrial production growth and the value added of enterprises, such as: Skilful and experienced labor, modern machineries and advanced technology. The important aim of this research is the study of the physical capital, skilful and unskilful labor impact on industrial growth, using Solw's augmented growth for the period of 1996-2011.The results show the effects of simple and skilful labors and physical capital on value added of Iran's industries are positive and significant. Of course, the effect of skilful resources (human capital) are more than the unskilful labors. Thus, the value added of industries of Iran can be increased by the improvement of technical knowledge of human resources.
Mohammad Bagher Beheshty; Naser Senobar; Hassan Farzane Kojabab
Volume 13, Issue 38 , April 2009, , Pages 157-179
Abstract
This study analyse the determinants of entry and exit of Iran’s manufacturing industries defined at 4-digit ISIC level for the period 1995-2003. It employs a structure-conduct- performance model as well as macroeconomic factors to explain determinant factors of net entry. The research uses a panel ...
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This study analyse the determinants of entry and exit of Iran’s manufacturing industries defined at 4-digit ISIC level for the period 1995-2003. It employs a structure-conduct- performance model as well as macroeconomic factors to explain determinant factors of net entry. The research uses a panel data model to carry out the estimation. Findings of this study show that entry barriers and macro economic factors are important in explaining net entry movements. Entry barriers include high MES, capital requirement and barriers like intangible assets. Moreover, growth and profitability of industry absorb entrants to the industry.
