ECONOMIC RESEARCH REVIEW
Year:2014 | Volume:14 | Issue:55|Papers Count:9

The following paper explores cooperation among Caspian Sea countries for natural gas exporting to Europe. What is puzzling here is whether environmental requirements, in Nabucoo and Trans Caspian Sea gas projects, play an important role in the strategic decision process among three gas-exporting countries in the region: Iran, Azerbayejan and Turkmenistan. Using Maskin’s cooperation model, considering externality, coalition among natural gas exporters and importers for the Projects has been explored. In this paper we answer the question whether a coalition should be formed between the three countries for exporting gas to Europe. We also calculate the bargaining power of these three countries.The results show that all countries have profits to form a coalition for gas exporting among the Nabucoo project. Given the environmental requirements, Trans Caspian is less Economical than Nabucco so Iran can play an important and active role to form a coalition for exporting gas to Europe in the Nabucco project.

In recent years, researchers have been increasingly noticed economic growth and its determinants. Exchange rate and its volatility are important factors in determining a country's economic growth. Various studies in this regard have shown contradictory results concerning the effects of exchange rate volitality on economic growth. The purpose of this study, Considering the importance of this issue, is to evaluate the nonlinear effects of real exchange rate uncertainty on economic growth (oil and non-oil) from 1369/1 to 90/4. In this study, economic growth is a function of real exchange rate uncertainty, investment rate, active population growth and growth rate of human capital. To estimate the amounts of real exchange rate uncertainty, GARCH In Mean model is used. With the implementation of a program in eviews, a certain level of exchange rate volatility was calculated using criteria of standard deviation minimum. Then, GMM model is used to determine the effects of this volatility on economic growth. The results show that the real exchange rate uncertainty up to a certain level, which is investigated in this research, has a negative effect on economic growth, whether oil or non-oil.

The performance of the fractional-reserve banking system, will lead to a vast money creation in favor of banks. This results in inflationary problems. This type of banking system will also lead to some issues like the transfer of borrowers’ risks to banks and sometimes to depositors, monetary and banking crises, free ridings, adverse selection and moral hazard, and etc. In this research, the cost of money creation is determined by two scenarios. The first scenario is money creation in a fractional-reserve banking system, and the other is central bank’s money creation with requirement reserve of 100%. Then the social loss function related to money creation is defined. The results of minimizing social loss function with the constraints of Philips curve and aggregate demand function show that the instability and social loss will increase with reduction of the reserve requirement. In other words, policy makers can reduce social costs and instability of economy through the expansion in the reserve requirement.

In recent years China has been appeared as one of the main trading partners of Iran. This study analyzes the effects of trade with China on industrial employment of Iranian economy through panal data methodology and using data of Iranian industrial sector on the basis of 2-digit ISIC of the 1996 to 2011. Results for 22 subsectors show that importing from China reduces total employment level and exporting to china creates job opportunities. Estimates also show import penetration coefficient leads to a reduction in employment of male workers and export penetration coefficient has positive and significant effect on male and female employment levels. Results for 19 subsectors indicate that increasing in import penetration destroys manufacturing employment and the effect of exports becomes insignificantly positive.

Every community produces goods and provides services, and distributes these products and services for end-use based on an instruction or certain order. This performance for many reasons varies from one society to another.The current research studies the impact of Khums on consumption and investment based on approach of Kaldor model. The proposed model assumes that the economy is managed by the private sector, and our target population is Islamic community.In this community, the Islamic Republic also has been established in a manner that in this kind of economy, the interest rate has been abrogated, and all economy activities based on Mudaraba or Musharaka. On the other hand, the majority of consumers in the Islamic society were affected by Islamic instruction, and they fulfil their religious duty, and pay the Khoums. The Islamic government is trustees of collecting and distributing Khums. The results have shown that it is possible to achieve steady growth in Islamic Economics, and the existence of Khoums is not a barrier to consistent growth status.

This study investigates the potential threshold effects in the relationship between corruption control index and GDP growth for the D-8 countries with the presence of other variables, including education expenditures, government consumption expenditures, agricultural raw materials exports, inflation rate, and index of openness over the period 1996-2011. For this purpose, the paper uses a Panel Smooth Transition Regression (PSTR) model that is an appropriate method for explaining cross-country heterogeneity. Our result rejects the linearity hypothesis, and gives a threshold at corruption control of -0.862. Based on this threshold, we can build a two-regime model. In the first regime, corruption control, education expenditures, agricultural raw materials exports and index of openness variables have a significantly positive impact on GDP growth and government consumption expenditures and inflation rate variables have a significantly negative impact on GDP growth. In the second regime, however, corruption control, education expenditures, agricultural raw materials exports and index of openness variables have a positive impact and government consumption expenditures and inflation rate variables have a negative impact on GDP growth. Though, the impact of corruption control, education expenditures, agricultural raw materials exports and index of openness are increased and the impact of government consumption expenditures and inflation rate are dramatically declined.

The current study, drawing on mathematical modeling, aimed at uncovering factors influencing life expectency (as a proxy of health) among OIC (Organisation of Islamic Cooperation) countries. More specifically, this article tried to examine health criteria set in the Muslim world in homogeneous income countries. In doing so, we initially depict a conceptual model, and then investigate the various factors affecting health issues by the use of a generalized model developed by Grossman in those countries. The findings of the study (in a period from 1995 to 2009) revealed that the effective factors were the varibles of GDP per capita, the ratio of total health costs in GDP, out of pocket, malnutrition, and the rates of adolescent fertility. That is, the medical, economic, social, and environmental factors were reported as those influencing the healthy issues in these countries. Moreover, except for upper middle average income Muslim countries, the health conditions of homogenous groups of income (i.e. low income, lower-middle-income, middle-income and high-income) have been improved by reducing the rate of teen childbearing variables (social development) and risk of malnutrition (living conditions), though they have not been affected by these two factors. The implications of this study discussed the growing income trend with increasing GDP per capita and the ratio of health spending to gdp (economic inputs), and this fact, in turn, shows the effects of the economic inputs on the improvement of health status in Muslim countries.