Financial Economics
Year:2015 | Volume:9 | Issue:31|Papers Count:8

Energy is known as an important and strategic input among natural resources in which its effect on economic growth is not deniable. A deep investigation of the relationship between energy consumption and growth could help policy makers to conduct effective and sustainable policies in the energy section of oil producing and exporting countries. However, this relationship could be volatile sometimes in the presence of structural changes. Therefore, it is necessary to investigate such structural changes between energy consumption and growth to avoid misleading policies in these economies. This study examines any structural change of the relationship between energy consumption and economic growth in the selected oil exporting countries, such as Algeria, Colombia, Equator, Indonesia, Malaysia, Norway, Venezuela and Iran, during 1980-2010. This has been done by using co-integration and Chaw tests via a panel data approach. The results confirm a structural change between oil consumption and economic growth in the oil exporting countries during the mentioned period.

Using of modern machines in energy sector is an effective factor on efficiency, in this sector. For using from modern machines in energy sector, we want much capital. Therefore financing resources to project operations is so important. Different finance recourses have significant and positive effect on efficiency of projects. In this paper, a panel method is used for to analysis relation between new modern machines in electricity powerhouse as part of energy sector, and scale of financing powerhouse and gross fix capital in this sector for OECD countries on 2000 to 2014. Results of this survey reveal that more financing in electricity sector has positive and significant effect on rise of modern machines in electricity projects. More financing of other energy sector else electricity has negative effect on new machines using in this sector.

The macroeconomic variables have been affected by the volatilities and changes in oil price in the world countries and they have faced with serious challenges and lead to consider various tactics to avoid the negative effects of these shocks. However the instability of the oil market will make long-run planning impossible for policy making which is based on oil revenues in the oil exporting countries. Hence the purpose of this study is to evaluate the effect of volatility of oil price on the trade balance in Iranian economy during 1357-1390 with ARDL method. The results of this study indicate that the coefficients of oil prices and the output gap are significant in the 95% level and their relationships are negative with the trade balance. Moreover, the coefficient of exchange rate on the trade balance is positive and is statistically significant in 99% level. According the estimated relationship between oil price and the trade balance, policymakers can adopt suitable strategies in the face of volatiles in oil price and utilize it in economic development, codify social programs, set the annual budgets of the country and design appropriate policies to maintain economic stability.

Since the inflation has numerous effects on various aspects of economic and social, many economists believe the importance of inflation is higher than other economic indicators. With this approach, in this study the effective factors on main forming groups of Iran’s inflation in the Fourth Development Plan identified and have been examined. For achieve this target, among the twelve main forming groups of consumer price index (CPI), the important forming groups of CPI have been identified using Neural Network Sensitivity Analysis. Then by definition the causes and origins of inflation in Iran using various economic theories and domestic studies, the effects of these factors has been studied on the main commodity groups of CPI. The result of this study showed, among the main groups of commodities, Food and beverage group (Group 1), Housing, water, electricity, gas and other fuels Group (Group 4) and transport group (Group 7) were more important Compared to the other groups. So that, these groups explained 15.22%, 13.19% and 12.23% of the total change in the CPI during the period under review, respectively. The results of this study indicated the commodities of group 1 have been most affected by changes in liquidity, exchange rates and the GDP gap. Also commodities of group 4 and 7 have been most impressed by the rate of return on rent housing in urban areas and liquidity, inflation expectations and exchange rate, respectively.

The main purpose of this paper is to identify the implementation of new financial instruments such as Sukuk, Mortgage, Derivatives, Future, certificate of Deposit and Bondson Bank Tejarat performances variables. Based on a random sample survey research, which consisted of 90 questionnaires during 2013.9 to 2014.2, we found that promoting new financing instruments will have positive effects on performances indicators in Tejarat Bank. By using new financial Instruments, Tejarat intermediary services such as absorption deposit and credit expansion will be promoted.

Trade liberalization execution, because of positive effect on productivity or efficiency, considered by policymakers in most developing countries. One of the concerns of developing countries in the implementation of the policy, is the negative impact on employment. In this regard, the present study is to answer the question of whether trade liberalization leads to an increase in unemployment in developing countries? In order to maintain a relatively homogeneous economic structure, eighteen upper-middle income country such as Iran is selected. Data which used in this project are for the years 2000-2009. We used defined indicator by the Fraser Institute entitled “freedom to trade internationally” for Trade liberalization Variable. Econometric method used in this study is generalized method of moments (GMM). Results of the study show that trade liberalization has a negative and meaningful effect on unemployment rate. This means that trade liberalization can have positive effect on increasing employment and decreasing unemployment. Also GDP has negative and meaningful effect on unemployment and labor force and capital per head variables have positive and meaningful effect on unemployment According to theoretical expectations.

Today, one of the major problems of banks and financial/credit institutions is outstanding and deferred loans. Non-performing loans decrease financial ability of banks to grant new loans and the bank's profitability and increase collection costs and the other hand it adverse effects on the banking and financial sectors, and the wider dimensions, on the people through the financial and monetary crises. Due to the loss of the entire banking system and the economy through this, it will be necessary to address this important issue. Therefore, in addition to consider the previous studies that considered the endogenous and exogenous factors affecting the Non-Performing Loans (NPLs) ratio, the effect of GDP growth and inflation variables as macroeconomic variables to show the impact of macroeconomic conditions on banks Non-Performing Loans (NPLs) ratio, was considered. Also management quality, size, and moral hazard as the banking system specific factors were used.

Employees always concern about losing their job, or in other word, losing their income resources. For this purpose, governments require strong protection system for covering these concerns. The Unemployment Insurance (UI) program’s can be used for achievin g this goal. Based on article five of Iranian unemployment Insurance law, premium is four percent of employee’s salary while employer and government’s contribution is four percent and one percent, respectively. Hence, there are great concerns about the financial pressure on the government regarding implementing this law. In this paper, we price UI based on the insurance history of employee and the duration of being unemployed. We use the Weibull distribution for finding duration of unemployment, and finally equivalence principle applied for finding the fair UI premium rate. Our findings indicate that the UI rate is less than 4% which is lower than current UI rate in Iran which has been set by law. Consequently, government’s contribution can be eliminated which reduces concerns about providing required budget by the government.