Financial Economics
Year:2013 | Volume:6 | Issue:21 (SUPPLEMENT 1)|Papers Count:8

Reliance on oil exports is the special features of Iran's economy and fluctuating oil prices cause instability foreign exchange earnings and Iran's economy constantly. This caused that independence on single-product economy; diversify foreign exchange earnings by increasing non-oil exports and increase the share of Iran's economy in international trade should be emphasized in economic development programs. Attendance to the non-oil exports and the effective measures to improve it needy competitive environment and it makes possible to wider participation in world markets, particularly the WTO.In this paper, affecting factors on non-oil exports of Iran has been studied by using the model an Auto-Regressive Distributed lag (ARDL) and annual data for the period from 1973 to 2008 in Iranian economy. The results show that import value of capital goods, integration of trade and exchange rates have a positive and significant impact on non-oil exports in long-term, but inflation has a negative and significant impact on non-oil exports in long-term.Also the existing structure of non-oil exports has a pivotal role in the fate of non-oil exports.

In the fourth socio-economic development program the market conditions was designed to the creation of about 900,000 new jobs opportunities each year. But in the past 20 years, the average opportunities created each year exceed no more than 300,000.Considering the increasing emphasis of politicians on creating employment in the shortest time possible, this study look in to job creation related loans, granted to industry sector and small and medium size enterprises, explores the relation between these loans and job creation, and sees into various effects they have. With a descriptive- analytic approach this study has surveyed 161 industrial enterprises of small and medium size, which have received loans of bigger than a 100 million Rials, during the period of 1384-87 in order to create jobs. The results show a relationship ratio of 0.372 between the loans granted and the jobs created. Most employment is created where the loan is used as working capital. The final point is that how the loans is used the amount of the loan, and the intension the payee has for taking the loan, make no making for difference in average job creation. It is suggested for more effectiveness loans consideration on long-term approach and decrease in government interference is required.

Based on the endogenous growth theories, it is expected that the improvement of human capital, research and development and the efficiency enhancement lead to increase in total factor productivity. In this paper the impact of human capital and R&D on total factor productivity is investigated using the panel data of 9 non- governmental service sectors in 1375-1386. The econometric model is a partial adjustment model (lagged) in which the TFP is a function of human capital, R&D capital with two time lag, capacity utilization rate as a proxy of efficiency and the time trend.The results of the panel data model show that there is a positive and significant relationship between total factor productivity and human capital. The R&D capital (with two time lags) has a significant effect on TFP although it is very small. The ratio of actual output to theoretical output as an index of efficiency is the most effective factor of the regression and shows that the elimination of production obstacles is an important issue.

Capital is regarded as a prerequisite of economic growth. One way of supplying capital is attracting direct foreign investment. Attracting foreign direct investment requires safe environment for business, because return on investment and its efficiency become possible. To have a secure environment requires the right etiquette for business. This research investigates relationship between direct foreign investment, business rules and economic growth over the years - 2004 to 2010. This study is performed by using Panel Data model. Statical sample of this research consists of19 countrie selected from the G77 countries.The results show that, first the impact of amount of foreign direct investment on economic growth in G77 countries is positive and significant with two period delays Second; the impact of rule of law on economic growth is significant and positive with one period delay.

Productivity is one of the important factors in economy that is defined as making optimum usage of human resources and decreasing production costs, so that it is beneficial to employees, managers and all users. One of the effective factors in productivity growth is investing in using information technology in organizations.Information technology potentially affect economic growth with making production easier, developing knowledge based economy, generating job opportunities and increasing R&D activities. Meanwhile it is possible that IT investment has little contribution in productivity improvement and organizations performance. This will show the essence of complementary investments for increasing effectiveness of IT investment. Information technology has major role in business process reengineering, so business process re-engineering can be used as a complementary investment for increasing IT effectiveness.In this research, cobb-douglass model is used for studying information technology effect on productivity of West Azerbaijan Power Distribution Company. WLS is calculated for examination of proposed hypothesis using Eviews software. Economic and financial data is collected for this research from 1999 to 2009.Results of this research indicate that investment in information technology has positive contribution in West Azerbaijan Power Distribution Company’s income after costs reduced. Also return on investment in information technology is higher than non-IT investments. However, combination of IT investment with complementary investments is essential for stability and durability of this positive contribution. Final analysis indicates that according to business process re-engineering methodology, there is meaningful difference between current and desirable condition in power Distribution Company. In the other words, Business process re-engineering is a complementary investment for West Azarbaijan’s Power distribution company.Finally, productivity analysis shows positive correlation between information technology and total factor productivity.

According to the iran’s economic situation. Single-product economy, the high dependence to oil revenue, the ends of oil and gas resources and the need to exchange, iran needs to become Industrial countries especially because of the the suitable markets in the Middle East and Central Asia to attract Iran's gas production. In these Thesis we study the economic evaluation of smart gas heater, by Comfar software, and we reach net present value (NPV) 15 and 20% at rates equivalent to 1.486 million toman and 822 million toman Rate of return on investment= 31.65% (IRR) .The Findings in these Thesis show that the producting of these good has high economic justification, and it can attract investor.To conclude, by producting these good we can prevent to send out the exchange, we can reach Self-sufficiency increase GDP and create jobs and reduce mortality that died with gas.

Gold coin futures act as an obstacle against inflation and possess financial leverage. Thus studies are conducted in order to help making profitable decisions in gold coin futures is valuable. In this regard investigating amount of effect of some of macroeconomic variables on returns of gold coin futures and also effect of selection of transactional based strategies, which is based on continuation of prices process on this return, is very important. Momentum strategy as one of transactional based strategies shows a positive self-correlation in stocks return and its continuation in medium-term period. Based on the above contents, purpose of this study is investigating the effects of economic variables (dollar rate, inflation rate and bank interest rate) on returns of gold coin futures.In this study have been used daily data of settlement prices of gold coin futures in Iranian stock market and rates of the Central Bank during 2009- 2011. For investigation, futures returns are calculated by change in logarithms of settlement prices. Then weekly investigation term and also weekly maintenance term based on results have been used. On this basis during investigation period, the positive return led to purchasing opportunity and negative return led to selling opportunity. Then effects of economic variables such as dollar rate, inflation rate and bank interest rate have been tested on these returns. Kolmogorov-Smirnov test is used for investigating variables statistical distribution and correlation test is used to prove linearity in relationship. With regard to statistical tests it is concluded that bank interest rate has no effect on return of gold coin futures based on momentum strategy but inflation rate and Dollar rate have effect on this return. Hence, in carrying out deals we must take into consideration changes in these two rates and it is understood that this strategy, momentum strategy, shall not be profitable in societies with inflationary economy.

Today, almost in a foreign currency restrictions and its role in the problem of slow growth and development of consensus exists among economists, but this discussion that the entry of foreign direct investment on environmental performance is what effect is discussed. Hence the importance of environmental conditions around the world in recent decades and the movement of foreign capital, foreign direct investment, it became the capital environmental performance and high-income countries with low per capita income, we will review. The classification of countries into two groups: high-income countries and low income countries of the World Bank classification, we used division. The results were indicative of the fact that foreign direct investment capital. Means positive impact on environmental performance in countries with high per capita income, but this result was not obtained for countries with low per capita income.