JOURNAL OF ECONOMIC GROWTH AND DEVELOPMENT RESEARCH
Year:2013 | Volume:3 | Issue:11|Papers Count:7

This study examines the impact of entrepreneurship on economic growth in selected countries, using data from the 2008 addresses. The study is applicational and gathering of data is doing through attributive style. Using the Romer endogenous growth model, variables that influence the growth of entrepreneurship, along with other important variables entered into the model. Three different indicators to measure entrepreneurship, including Global Entrepreneurship Monitors indexes are used. The results of the model estimated by Ordinary Least Squares support each other for sectional data in all three indexes, that this is will strengthen consistency and accuracy of results and findings. Findings suggest significant effects of entrepreneurship on economic growth. Of course, the amount and type of impact depends on the level of countries’s per capita income. So that in countries with high per capita income, entrepreneurship has positive effects on economic growth and entrepreneurship in low income and poor countries has a negative effect.According to the research’s results, entrepreneurship should be emphasized especially on the basis of innovation in the developed countries and is felt the need for government incentive policies to increase their participation in the economy in the form of entrepreneurship in developing countries also.

This study is devoted to test the inflation persistence in Iran. For this purpose, respect to the time series data on inflation in Iran (1972-2011), Autoregressive Fractionally Integrated Moving Average model is used. The results of this study show that based on methods of maximum likelihood and modified maximum likelihood degrees of differencing, respectively, are d1=0.482 and d2=0.483. Therefore, based on these findings, the inflation persistence hypothesis is not rejected in Iran. Gradual vanishing of inflation shocks, possibility of inflation is structural and regard to monetary discipline is the most important recommendations of this study.

In this research, it has been tried to analyze the effect of financial development on economic growth in selected member States of Organization of Economic Cooperation and Development with Upper Middle Income countries and compare them with each other. To do this, 5 financial development indicators have been used which include: The ratio of private credit by deposit money banks to GDP, the ratio of liquid liabilities to GDP, the ratio of deposit money bank assets to GDP, the ratio of private credit by deposit money banks and other financial institutions to GDP and the ratio of bank deposits to GDP.Estimation of the model, by using panel data econometric method, has been used for 23 member states of Organization of Economic Cooperation and Development and 26 countries with Upper Middle Income during 1980-2009. Selected method in panel data which has been used to estimate model based on Limer Test and Hausman Test is fixed effect method.Results indicate that financial development has negative and significant effect on economic growth of selected countries and since the member states of Organization of Economic Cooperation and Development enjoy higher development, the intensity of this effect for this class of countries is lower. Also the effects of other variables such as government size, inflation rate, lag of real GDP per capita, investment and openness is based on theoretical expectation.

Empirical studies show that money has real effects in short-run but is neutral in long-run. According to transmission chanels of monetary policy, there is a possibility that each sector has a different response to monetary shocks. This paper, using the BVAR method and seasonal data, investigates the sectoral effects of monetary shocks during 1988:Q2 to 2011:Q2. The results show that monetary shocks have real effects in short-run and the reaction of sectors are different. In addition, the effects of moneatary shocks on services and industry sectors are stronger than on agriculture sector.

There are several studies that show social capital and health capital have impressive effect on economic growth. On the other hand, many researches in the health and community field, prove close relationship between social capital and health capital. So, this study examines and evaluates the health and social capital effects and also their interaction effects on economic growth in the Middle East countries for 1990-2010 period using panel data and LS (EGLS) and 2SLS (EGLS). Data of study, extracted from WDI, UNDP, PWT and WGI statistical reports. Results show, not only health and social capital have impressive effect on economic growth, but also their interactions-given that social capital improves physical and mental health indicators-have significant effect on economic growth. As well as, public health improves the social indicators, and therefore has a double effect on the growth and economic development.

Many factors affect on the performance of economic activities. Some of these factors are out of the control which are known in economic literature as Doing Business. Although this concept was used in economic history thought, but from the 1990s the literature of doing business has been concerned by governments and international economic institutions. This study aims to investigate and compare the most important factors, i.e.: starting a business, getting credit, protecting investors, paying taxes, trading across borders and enforcing contracts which improve the environment of doing business for growth. We examine such a factors between MENA Islamic countries and the countries of OECD in the period of 2007-2012. The method which is used, is panel data regression analyses. Results indicate that the Islamic countries must have more attention to the factors of trading across borders and getting credit for improvement of ease of doing business.

Human capital has always been of high importance in economic growth literature. In this regard, several studies have tried to explain the role of this variable via the use of different models. The present study, in line with the previous ones, going to estimate the share of human capital in Iranian economy production from 1974 to 2011 within the framework of Ozawa (1965) and Lucas’s (1988) endogenous growth model. In this study, the Autoregressive Distributed Lag Modelling Approach (ARDL) is employed to estimate the role of human capital in production. Moreover, the average of schooling years is used as an index of human capital. The results indicated that in spite of a positive and significant relationship between human capital and GDP, physical capital plays a more important role. While the share of human capital is 0.59, physical capital has a share of 0.75. based upon literature review, share of human capital must be more important and influential, so regarding distraction of main reasons of this phenomena the study recommends that we need to make university fields more productive-based.