ECONOMIC RESEARCH REVIEW
Year:2003 | Volume:3 | Issue:3-4|Papers Count:17

With the propasal of venezuela, the Organization of Oil Exporting Countries (OPEC) established in 1960. The members of OPEC at the initial stage of establishment were: Iran, Suadi Arabia, Venezuela, Kuwait and Iraq. When OPEC was stablished, 67% of the world"s oil reserves, 38% of the world"s oil market and 90% of the world"s oil market was at its disposal. In order to keep the oil market stable, from the early 1980"s, OPEC has developed two strategies in the form of: 1. Protection of price 2. Protection of Market. Price protection strategy means a kind of control in production management. Making this strategical decision caused a loss of these countries" share in the world"s oil market. Market protection strategy resulted in a considerable decrease in oil revenue (decrease in price) of producing countries, but finally, achieving a greater share of market. In the last 20 years, OPEC has been following a moderate strategy. Implementing this strategy providing a relative stability in the revenue of oil producing countries of OPEC members, but on the other hand has intensified instability in the world market. In this paper, we try to consider the short and mid-term prespective of the OPEC and the challenges it is now facing, and then the status of OPEC in the world market and the role of it in supply security will be studies finally, the Iran"s long-term guidlines and the OPEC general secretarietship will be discussed.

Regarding to the role and importance of agricaltural sector in Iran economy, and wheat as an important and strategic goods, we are going to evaluate one of the most important issues of wheat, that is, efficiency of wheat production. For this purpose, economic, technical and allocative efficiency for wheat has been calculated. To calculate economic and technical efficiency, we have estimated deterministic parametric frontier model, using close method and long-run cost function under minimization condition. Allocative efficiency has also been calculated by dividing economic efficiency to the technical efficiency. As a results, this paper shows, all producer units have low economic efficiency, that is to be related to the low allocative efficiency.This mean that for a fixed amount of input, the producer unit can not achieve maximum benefits and in result, causes the resourse not to be used efficiently.

In recent years, facts and evidences reveal that cycles in financial marketsdo not have the same duration and frequencies. So, the use of non-linear models for estimations in this market is more appropriate. Evidence from Tehran Stock Market for the period of may 26.2002-may 21.2003 confirms the above statement. Using shriber method wefound that Noisehave a range of 22 to 57 percent in TSM.

Nowadays, achieving to the approach of determining equilibrium exchange rate, is an important issue for economist. In this paper, in all monetary models of exchange rate equilibrium determination under hyperinflation, we have focused on modified monetary model of Cagan demand money. Based on this monetary model, exchange rate is derermined by domestic money supply and demand in the money market. This approach gave rise to the present value models of both price level and exchange rate. This implies that, as a consequence of dOllarization,agents denominate their real domestic money holdings in foreign currency.

The purpose of this paper is twofold. On the one hand, we wish to investigatethe effects of the structural variables on inflationtax. On the other hand,our objective is to analyze the impact of inflation tax on consumer expenditure. In particular, we wish to investigate if inflation tax should be deducted from the GNP to obtain aggregate disposable income. For this purpose,we use both co-integration analysis and auto-regressive distributed lag-modellingapproach. Our empirical results indicate that structural variables such as the share of agriculture and industrial sectors have a " direct relationship with inflationtax, and the shares of import, exports and oil sectors in the GDP are inverselyrelated with the inflationtax in the Iran"s economy. The study covers the1961-2001 period. Our analysis of the consumption function also confirms that inflationtax mustbe deducted from the GDPto arriveat a proper measureof aggregate disposableincome in the long run. Impulse response function is also used to study the dynamic behavior ofthemodel.

During the last two decade, created transformations in the oil world market are leading to drastically decrease in oil revenue of oil exporting countries, including Iran. Allof these transformations that usually scheduled and performed by International Energy Agency (lEA),providing a decrease in oil prices relatively stability in the world"s markets. In recent years with presentation and development of new oil transactions (especially in second half of 1980"s), oil transaction are increased many times as much as to its world exports. Meanwhile by increasing the oil"s use tax in industrial countries, oil demands is limited. Consequently, in spite of increasing the tax in industrial countries, raw oil prices is decreased in world market and this matter is leading to decline the revenues of oil producing countries. sharpe increase of oil consumption efficiency in industrial countries caused to more limitationof demand for oil in this group of countries which consume more than 60 percent of world oil production. Thus, in this paper by taking into consideration the subjects such as: increase in oil tax, increase in oil consumption efficiency in world industrial countries, substitution of other energy sources, and sharpe decrease in real value of oil revenues, we study the ways to decline the loss resulting from recent changes in oil market and other domestic and foreign factorS on Iran"s economy, and then, we discuss the challenges facing the oil and energy sectors in development plans, from different approaches such as: Energy Study Center and 6 the Oil Ministry.

The main objective of this research is the evaluation of the effects of foreign exchangerate fluctuationsin unofficialmarket (free market)and cash flow on price ofcompany stocks in Tehran stock exchange for the period from March21, 1998 until March 20 . 2001. Theoretical bases of this research arepurchasing power parity and portfolio.Theory on the basis of purchasing power parity and its expansion, we concluded that theory of rate of return and risk parity in stock market can be propounded. On the basis of PPP theory,foreign exchange rate fluctuations should affect the factors which effectsshares or stock prices. We found that effect of foreign exchange rate depends on three variables:number of buyers, number of transacted companies and times of " purchases,was relativelyon average and with relation to other factors. The main points in this article were the result of reversed relationship betweenstock market variables and foreign exchange rate and gold market variables. In models, which we considered the effects of fluctations of foreign exchangerate and gold prices on stock prices, coefficients of models were moderate and low. But in models in which stock market variables was independent,coefficients were moderate or relatively high.Therefore, we can concludethat foreign exchange rate and gold prices are influenced by stock marketmore than stock market by these variables.

This Paper tries to review the variables at the initial stage which lead to the establishment of OPEC and tries to analyse the strong role of this organization in coordinating and integrating the member countries. It also tries to study the various trends and process of the organization fromthe begining of its activity till now. Hence, while it tries to take into account the effects of internal & external variables on the strength of OPEC at different historical stages,-at thesame time tries to show the role of political and economical variables in a suitable component. Finally with the help of practical strategy tries to study the scenario of OPEC power and the possibility of how ,. the OPEC members would benefit from the coherence of the variables in creating a powerful OPEC.

Iran is one of the largest oil and gas producing countries in the world, holdingthe equivalent of some 110,000 Million barrels of oil, equivalent to 10%of the worlds proven reserves and over twenty three trillion cubic meters ofnaturalgas, equivalent to 14.7% of the world gas reserves. Inspite of the effortsin diversifing the revenues, but oil and gas still is the most important sectionsin Iran"s economy. In this article, we review the subject, also, the trend of the oil exportationwill be analysed, and then the outlook of country"s geo-politic demandof oil will be considered.

Expansion of criminal activities in the world, has brought to the attention the money laundering activities, as a serious criminal matter. So, most countries in the world have ratified laws against it and put into execution. Iran is one of the countries accused of being involved in money laundering. Therefore, it has become crucial for this country to pass a special law against this criminal activity. But what is the money laundering? and by which way it is done and what are its effects and consequences? This paper has a brief observation on the above mentioned subject.

The Present article is an analysis of how effective factors have affected theeconomic growth during 1338-1379. It shows that one of the most importanteffective factors affecting employment and growth is investment. It seemsthat accumulative physical and human capital and economic policy, aswell, play a very important role on affecting the economic growth. The conclusions show that public investment is not sensitive to long period depositbanking rate of interest. In contrast, this variable shows that it is very sensitiveto oil revenue and GDP, as well. Private and public investment play importantand main role in incrementing the production, so that, experience showsthat the public sector investment has more effect on Iran economic growththan the private sector. The result of cause and effect test shows that theeffect of investment on economic growth for public sector has been a oneway road while that of the private sector"s shows just a reverse effect on economicgrowth.