JOURNAL OF THE FACULTY OF HUMANITIES AND SOCIAL SCIENCES
Year:2007 | Volume: | Issue: |Papers Count:6

The present research studies the relationship between commercial policies and economic growth in Iran that is based on Locuas (1988) model of endogenous growth. To avoid of spurious regression the Johansons model are used. The empirical results indicate that there is cointegration balance relation between function of economic growth and its determined elements such as capital, labor force, human power, real export sand tariff import rate.To reach the short time dynamic internal and external models, two model tools of error correction and ( VDC s)1 and (IRFs)2 are used The obtained results of (VECM )3 show that there is causative function from variables in the right side of the model towards variable of local gross domestic production. In other word, it indicates innateness of dependant variable. From the other point of view, the documents resulted from (VDS s) state that real export variable tariff and human power have determined function in explaining (GNP) production. The (IRF s ) result also indicates that there is a convergence in long balance relationship.

In the capital asset pricing model (CAPM), Beta (P) is a measure of systematic risk and explains the assets return differences. CAPM Beta comes from equilibrium in which investors display mean-variance behavior. In other words, from an equilibrium in which investors maximize a utility function that depends on the mean and variance of returns. The variance of returns, however, is a questionable measure of risk for at least two reasons: first, it is an appropriate measure of risk only when the underlying distribution of returns is symmetric. And second, it can be applied straightforwardly as a risk measure only when the underlying distribution of returns is Normal. The semi variance of returns, on the other hand, is a more plausible measure of risk for several reasons: first, investors obviously do not dislike upside volatility; they only dislike downside volatility. Second, the semi variance is more useful than the variance when the underlying distribution of returns is asymmetric and just as useful when the underlying distribution of returns is symmetric; in other words, the semi variance is at least as useful a measure of risk as the variance. This paper investigates the relationship between risk and return by the use of three downside Beta in CAPM.

The present article deals with estimation of demand for red meat in Iran during 1977-2003 using ARDL approach. The findings of the research show that red meat in short run is elastic with respect to own price, while it is inelastic in long run. Income elasticity indicates that red meat is elastic both in short and long run, though it is more elastic in long run than short run. Cross-price elasticity of demand for red and white (chicken and fish) meat is positive indicating a substitute relationship. The long-run elasticity of the substitution relationship is stronger in long run than short run. The result from ECM shows that the adjustment coefficient is -0.58; i.e., about 58 percent is adjusted towards the long-run equilibrium within a year.

Tourism is now being considered in most countries as an economic sector playing an important role in development. Due to the Iranian Economy highly dependent on the oil revenue, the promotion of tourism activities is an effective way in order to reduce such dependence. According to the successful experiences of some countries in tourism development and its effect on their economic growth, this paper examines the relationship between international tourism and economic growth in Iran, using a Granger causality model over the period 1959-2004.The results indicate that the causality relationship between tourism and growth is bilateral, while there exists a long-run relationship between these mentioned variable. 

This paper investigates the relationship between export expansion and economic growth over the entire period of after 1979 revolution for Iran. A modified granger methodology employed by Bahmani- Oskooee et al (1991) who followed Hsiao's Granger-Akaike synthesis in their research is utilized. The paper begins with the investigation of causal relationship between exports and growth by employing the time series techniques of causality for Iran. In a production function framework, a model is then tested, which is also compatible with the new growth theory. The findings suggest that exports contributed to the rate of economic growth, and support the importance of export for Iranian economic growth in terms of both real GDP and net-real GDP for the period of after 1979 revolution. Therefore, the primary conclusion that emerges from this study is that while exports have emerged as a growing component of Iranian economic activity in recent years, the export sector can be said to have an important role in promoting economic growth for the country.

Since 1930s, much of attention of macroeconomists have focused on economic growth model, so that it progressed notably in some dimensions such as the kind of production function and its inputs, diminishing or increasing returns to accumulation of physical and human capital.Before 1960s, only physical capital was the important factor in production function in growth model, but endogenous growth model had a key role to introduce human capital in production function. These days, in applied economics, researchers use investment in education as a proxy for human capital.In this paper, by using Lucas endogenous growth model and micro data which is gathered by SCI and macro data which is gathered by CBI, we showed that labour formal education as a proxy for human capital has a positive effect on economic growth of Iran during 1972- 2003.