Financial Economics
Year:2011 | Volume:5 | Issue:16|Papers Count:8

Privatization is a new Phenomenon that the world enthusiasms for delegation of activities have turned it into one of the out standing characteristics of the economic policies from 1980d on world. Privatization is a way of decreasing the financial Pressure of governmental Corporations on the budget and improving on their efficiency even distribution of incomes, mineralization of public sector and empowering the private one, extension of capital market, promoting rivalry and providing the consumers with the resources by delegation of the ownership and management of public economic firms to the private sector.The protagonist of this economic policy believes that applying this policy leads to basic improvements in the efficiency of privatized corporations. Thus, they claim that, the main goal of privatization is to improve on the efficiency of the public firms. But the experience of privatization has not proved a good solution for the governments' problems and its economic growth. This paper is to investigate the effects of privatization on the performance of the privatized corporations in Iran, and to see if the privatized corporations have performed well or not after privatization the financial information of the privatized corporations over 1380-1385 some indexes have been extracted to measure their respective performance. Considering these identified indexes, the corporations' performance over 2-3 year before and after the privatization was measured empirically. Mean while some corporations of the similar industry unions with public ownership were chosen as the control group. The results of examining the theories show no improvements in the corporate performance in comparison to their pre-privatization and we see no meaningful significant difference between their performance before and after privatization.

This study investigates the effect of oil shocks on economic growth in some OECD oil importer countries such as: Canada, France, Italy, Japan and America and some OPEC oil exporter countries such as: Algeria, Iran, Kuwait, Saudi Arabia and Venezuela discussed. Models for the years 1976-2008 are estimated. Of five variables for each country per year is used. Variables into the model are included real price of oil, GDP growth, inflation, real wages and the real effective exchange rates. Real GDP as the main variable effects on the economy indicates that oil prices impact on other model variables indirectly. Vector auto regression model estimated. Estimation results obtained in different countries show that oil price shocks of variables affecting on economic growth. Also in oil shock of Petroleum Exporting Countries on economic growth is positive. Estimation results obtained in the oil importer countries shows the effect of oil shocks on economic growth is negative.

In this study, the effect of institutions on the labor productivity has been investigated. Investigating the total rank of competitiveness index and institutional pillars based on the report of the world economic forum showed that among 139 countries in the world in 2010-2011, Iran doesn’t have a good and suitable position between two indexes. Also, among 24 countries of the outlook document area Iran doesn't have a good position in this year. But, to some extent, it could decline its rank difference with its two major competitors in this area, i.e. Saudi Arabia and Turkey. In order to know the role of institutions on productivity difference of labor indeveloping countries, the regression of cross section model has been used. Human capital indexes and macro-economic environment have been utilized as well as institutional indexes.The total result of model estimation has indicated that each of institutions and human capital indexes has positive and meaningful relationship with labor productivity of developing countries. The most impact on labor productivity was related to human capital index, macro-economic environment and institutions respectively.

Relationship between stock returns and macroeconomic variables of interest to many researchers have been, But so far not reached a definitive conclusion about this relationship. This relationship varies from country to country due to the economic structure provides different results. In this study the impact of macroeconomic variables including exchange rates, world gold prices, inflation, liquidity and oil price on the stock returns index in Tehran Stock Exchange data is evaluated monthly over the period 1379 to 1389 by “GACH“ economic model. Results showed that the gold price, inflation and exchange rate variables influencing on the stock return and oil price and liquidity had no impact on the stock returns. The results indicate that there is a lever on Tehran stock market.

In the present study, the economic performance of 58 countries with mineral resources shown that those countries with rich resources would not necessarily face source resource curse, in fact the institutional structure in these countries (measured by the resource governance index) determines which resources are a blessing or disaster. In this regard, the pool data analysis is used for the countries with mineral sources. Within the frameworka pool data model are evaluated on the reciprocal impact of the resource governance and the revenues of the minerals exports on the economic growth in these countries. Although most empirical studies have concluded the negative impact of abundant mineral resources on the economic growth in these countries, the present study results indicate that there is a significant positive relationship between the economic growth and the components of the governance resource index (research hypothesis). If the institutional structures (resource governance) are appropriate, there is a significant positive relationship between the revenuesof the mineral resources and the economic growth.

The purpose of this investigation is to survey the relationship between health expenditure and income distribution in Iran from 1362 to 1387.Variables used in this study were life expectancy, family and public hygiene expenditure and gini coefficient. Results of estimate by using ordinary least squares method (OLS) revealed that the index of life expectancy had a meaningful effect on income distribution.Family health expenditure has a meaningful influence on income distribution, but it brings about increase in income inequality and the impact of health expenditure of the government on income distribution is meaningless.

One of Main Matters Treated by all countries daily is energy Supply. On one hand, decrease of fossil reservoir and increase of oil price and its products and on the other hand necessity of attention to decreasing environmental Pollutions caused by fossil fuels encourages worldwide companies to apply pure and renewable energies of renewable reservoir attracted European and American countries attention is biofuels.one of main kind of biofuels is bioethanol produced by waste of agricultural products like sugar cane, wheat, corn and sugar beet.In existing research, after introducing biofuels especially bioethanol, we have investigated bioethanol production economically by applying sugar cane wastes, ”Haft tapeh Khuzestan culture and industry“ which is one of the main sugar Producers in the state. Our hypothesis in this research this is:bioethanol production by applying sugar cane wastes, In ”Haft tapeh Khuzestan culture and industry“ have economic justification.Replacing bioethanol with MTBE in gasoline production have economic benefits. Software applied in this research is COMFAR Software which is one of the most important Software used by investment-counseling companies for Study Feasibility.

The main objective of this paper is to investigate the effects of the business cycle position on the effectiveness of fiscal stimulus Programs and investment in Iran. For this purpose, first business cycle is extracted by applying methods Hodrick–Prescott Filter and data years 1338 to 1391.Then, these years in terms of the business cycle position to two regimes include upper regime and lower regime, is separated and investigated the effects of fiscal stimulus programs shocks (increasing government spending and tax cuts) on economic growth. The investigation have been done by estimating a threshold VAR model including three variables: GDP, government spending and taxes, assuming disturbance terms' heteroskedasticity in two regimes and derivation of cumulative and impulse response functions. The results indicate that the effectiveness of the government's fiscal stimulus is dependent on the position of the business cycle. So, fiscal stimulus plan in the form of increaseing government and tax reductions are more efficient in lower and upper regime, respectively. Accordingly, increasing government spending in recession conditions and tax cuts in booming conditions is the best fiscal stimulus plan to stimulate economic growth.