NAMEH-YE-MOFID
Year:2009 | Volume:14 | Issue:2 (69 ECONOMICS)|Papers Count:10

Monetary and banking crisis in some countries which had implemented financial liberalization policies, during the period of 80s and 90s, has shown the necessity of paying more attention to the institutional environment of the countries.In this research, we modeled the role of public (legal) institutions necessary for financial development in banking sector. We defined two levels of public institutions indexes; the public institution or index 1, which is the first principal component of the control of corruption, law & order and bureaucracy quality; the public institution or index2, which is the first principal component of the last three components along with government stability& religious tensions.Through a panel data analysis, encompassing 92 countries (including 33 less developed, 38 emerging market and 21 industrialized countries) over the period of 20 years ranging from 1985 to 2005, we explore several dimensions of financial developments including the role of legal institutions. The results indicate that well-developed legal institutions are preconditions for financial openness to lead the banking sector development. The findings suggest that a sufficient institutional level is a pre-requisite for positive effect of financial openness on financial development and economic growth. Average level of public institution in Iran, is also lower than this threshold level. It means that the actual legal and institutional environment in Iran would not support a rapid financial liberalization policy.

Economic growth and improvement has always been every nation’s desires and goals. In the developing countries, such desires are even stronger since they feel a considerable difference between themselves and developed countries, exist.Developing countries however, instead of following the ways that caused accomplishments in the world, tried to find a shortcut to get to their goals with respect to some important well-known theories in advanced countries. As such, this question arises that, which theory to follow in order to get to our goal in a shortest possible period?Survey results show that improvements of financial institution can provide capital and lead to manufacturing activities and economic growth. Indicators are set to evaluate the growth of financial institutions activities. Based on those indicators developed countries and developing countries can be compared in terms of financial market progress with respect to their economic growth. Results also show that, in Iran like some other developing countries, financial markets have not met the required growth yet, therefore growth of such markets are advisable in order to achieve economic growth target.

The monetary approach happens to be one of the oldest approaches to determine the exchange rate changes. This paper investigates the monetary variables effects on nominal exchange rate in Middle East and North African Countries (MENA). For this purpose, panel data econometrics technique has applied during 1975-2005 period.The empirical results indicate that the monetary model is able to convincingly explain the exchange rates behavior in MENA Countries. In fact, empirical evidence implies that there is a significant relationship between nominal exchange rate and monetary variables such as liquidity differential, output differential, real interest rate differential in Middle East and North African countries.Hence, by decreasing the real interest rate and liquidity growth and increasing economic growth, the policy makers can improve the exchange rates in these countries, particularly in Iran.

The banking industry is of great importance to every one of us. With the availability of new technology and the Internet, more and more organizations are entering some aspect of the banking business and this result in intense competition in the financial markets. The performance of Islamic Investment Funds as a typical financial corporate can help to improve the practice of Islamic banking.In this paper using Data Envelopment Analysis to evaluate the performance of Valiasr investment funds in Babol city. In this way, researchers use some models as CCR, BCC and Input Efficiency Profile (IEP) to measure the efficiency of these funds. Result of scale efficiency in the year of 1384 shows that the branches of Shahid Bazaz, Bagh Ferdos, Shahid Geraeili, Tohid and Keshavari have not the scale efficiency. With respect to their return to scale (RTS), in order to reach the scale efficiency it is necessary that Shahid Bazaz branches decrease the level of its resources and others to increase their resources. Also, among the efficient branches, in the years of 1384 and 1385 Keshavarz and Markazi branches have been selected more as reference unit and hence those are considered as excellent units.

One of the key aspects of foreign reserves management in central banks is to determine the currency composition of foreign exchange reserves. One of the important indexes required for determining the optimal currency composition of reserves is the expected real rate of return on currencies. In this study, the ex post real rate of return in Iran on five important currencies -US dollar, euro, pound, yen and Swiss franc- was computed since the advent of euro (1st January 1999). To this end, proper import price index was suggested, computed and applied in calculating the rate of returns.

This article seeks to examine the effects of the Iran’s accession to the World Trade Organization (WTO) on its industry through econometric methods. One of the crucial issue about the WTO’s agreement is to assess the post-agreement rates. Removal of nontariff impediments and changing the charges for the custom tariffs of the imported and exported goods will bring about changes in economic structure of Iran. Iran’s industry in terms of the current situation-exclusively for government and also with low productivity in most of the industries is not able to compete with the global industry. If conditions improve, accession to WTO will improve industrial products. Based on the data from 1350 to 1385, the results of this article show that, in the case of Iran’s WTO membership, if the average of custom tariff rates for the exported goods reduces to 40%, the industrial export increases to 200.2% and if the average tariff rates for the imported goods decrease to 14%, the industrial import increase to 5.6%, and consequently, pure industrial export will increase to 194.6%.

Study of ICT’s effect on employment level has been conducted using descriptive-analytical method due to statistics limitations and structure of Iran’s economy and the study period covers 1994-2003 in industries of Iran based on the ISIC codes. To compare statistical data comparatively and their analysis the study period has been divided in to two 5-year periods. The general results of conducted analyses indicated that:a) Development of ICT has led to growing employment in Iran’s economy;b) With the development of ICT, the growth of employment and productivity in ICT producing industries in the respective study period has been positive, in line with the objectives and ranks above Iran’s economy;c) With the development of ICT, the growth of employment and productivity in ICT using industries during the study period has been positive but the growth of productivity is much higher than employment growth.

In Iran, regional unemployment rates appear to vary widely. In the year 2006, unemployment rates in Sistan and Balochestan, and Yazd provinces were 31.5 and 7.87 percent, respectively. This disparity is widely in county level. For exampl, unemployment rate at Saravan county in the Sistan and Balochestan province was 59.87 percent, while this rate was 0.15 percent at Abomosa county in the Hormozgan province. Because of regional differences in unemployment rate, geographical analysis is important.In this paper, by using spatial econometrics models which is applied in spatial autocorrelation and Iranian census data in the year 2006, we analyze the regional differences unemployment rates among the 336 cities.On the basis of findings, there were two phenomena: there exist a positive spatial dependency or autocorrelation and geographical heterogeneity in Iranian labor market at the provincial level. Provinces marked by high unemployment rate, as well as those characterized by low unemployment rate, tended to be spatially clustered, demonstrating the presence of ‘spatial persistency’.