IRANIAN JOURNAL OF APPLIED ECONOMICS
Year:2017 | Volume:7 | Issue:21 |Papers Count:6

In developed economies, a country’ s degree of development has a direct relationship with the volume of its international trade relations. Therefore, developing exports and obtaining foreign exchange income is at the forefront of the country's policy-makers’ goals. This will not be achieved except by precise planning and smoothing of the country's manufacturing infrastructure, in which the role of banks as one of the suppliers of capital is significant in Iran. Accordingly, the main question in this paper is that in Iran, how does bank credit affect the non-oil exports of the industry and agriculture sectors? For analyzing and answering the above question using the Johansen co-integration method and time series data related to Iran's economy during the years 1973 to 2012, the impact of credit on exports has been investigated. The results from the long-term relations demonstrate that the industry and agricultural sectors’ bank credits have positive and significant effects on their exports. The long-term value impact is 0. 28 for the industrial sector and 0. 28 for the agricultural sector.

The statistical evidence related to inflation and output over the years 1976 to 2015 shows that Iran's economy has faced stagflation phenomenon in many years, including 1960s, 1970s, 1980s and the early 1990s. In the present paper, according to the importance of the monetary instruments’ effect on the indicators of output and inflation, the effect of monetary instruments on stagflation phenomenon is examined using the Autoregressive Distributed Lag method (ARDL) over the 1976-2015 period. The results show that in short-term and long-term, inflation has an inverse relationship with the economic growth rate and the excess reserves and has a positive relationship with the reserve rate, the interest rate, the growth rate of the monetary base and facilities. The economic growth rate also has an inverse relationship with the monetary base and inflation and with other variables such as the legal reserves, the additional reserves, the interest rate, the growth rate of facilities, the government expenditure, and the consumption has a direct relationship. On the other hand, among the all mentioned variables, only the monetary base simultaneously led to an increase in inflation and a decrease in the rate of economic growth and, consequently, to the stagflation occurrence.

The main purpose of this study is assessing of the sanction effects on Iran’ s inflation, particularly the sanction of after 2010, regarding the sanction incidence against Iran economy and the inflation rate increasing during the years after it. In this regards, a regression model has been considered so that, GNP, exchange rate, imported inflation, liquidity, and dummy variable related to targeted subsidies have been considered as independent variables and inflation has been considered as a dependent variable. The mentioned model has been estimated using time series technique and seasonal data during the period 2003 to 2014. The results indicate that the sanction affects the expected inflation directly and it affects the inflation via the liquidity indirectly. The exchange rate affects the inflation via the imported inflation. In addition, the growth rate has a negative effect on the inflation and liquidity has a positive effect on it.

The main objective of this paper is to examine the impact of human capital and structural changes on the economic growth of ASEAN countries over the period 1977-2014. For this purpose, in the framework of a growth model, the direct and indirect effects of human capital and its relation with structural changes on the economic growth have been examined. The model was estimated by using the generalized method of moment and panel data. The results of the estimation indicated that human capital and structural changes had a significant and positive effect on the economic growth of the studied countries. Also, the effect of human capital had been far more than the effect of structural changes on the economic growth of these countries.

Health through increasing the ability of national human force has an important effect on economic growth. Promoting health breeds more healthy and productive people. Hence, one of the important issues that governments are facing is the share of health expenditure allocated to the health sector. In this paper, using panel data, the effect of Government health expenditure on the economic growth of the selected countries of the MENA region (including Iran, Algeria, Palestine, Jordan, Lebanon, Cyprus, Egypt, Morocco and Turkey) has been examined over the period 1995-2014. The results indicate that a one-percent increase in each of the variables of government health expenditure, life expectancy, and gross fixed capital formation has led to increase the economic growth of these countries by 0. 02%, 0. 02%, and 0. 31%, respectively. Also, a one-percent increase in the population growth rate has decreased their economic growth by 0. 01 percent. Therefore, with respect to the positive effect of government health expenditure on the economic growth, it is recommended that the MENA countries’ economic planners take account this type of expenditures as an investment instead of a cost. In addition, they can perform effectively in the process of economic growth by adopting appropriate policies and investment prioritizing in the health sector.

Interest rate and inflation are as important economic variables in the society. In this study, according to the importance of the relationship between these two variables, the existence of Fisher effect between inflation rate and the one-year, the three-year, and the five-year interest rates has been examined using annual data during 1978-2011. Due to the structural failure in the data, for the stability of variables unit root tests with structural failure such as Ziout-Andrievo and Peron tests were used and the Gregory-Hansen test was used to obtain a co-integration vector. Also, for estimating Fisher dynamic Parameter, Kalman filtering was used. The results showed that the short-run interest rate had the Fisher effect and the other interest rates had no long-run relation. Therefore, it is recommended to determine the interest rate considering the needs of society and economic goals.