ECONOMIC RESEARCH REVIEW
Year:2002 | Volume:1 | Issue:3|Papers Count:14

Islamic banking system, like all other credit and financial systems, should not be accepted as a fixed pattern in various situations. Nevertheless, one of the important principles of Islamic banking is conditional reformation, due to the economic situation, or, when its subject has been changed. In this Paper we focus on two points: First, deregulation and standardization to make a clear relation ship between Islamic banks and international credit and financial institutes and second, focus on economic realistic approach and privatization in banking and financial institutes, to promote competition situation.

Financing is one of the main problems that investors and producers are faced with and Banking system can have an effective role in short run financing of firms. So in this article, we examin the effect of banking credit on value added growth of industry sector in Iran. For our emprical words, we use VEC models, which shows that fixed investment and paid credit to industry sector have positive and long terms effect on value added growth of industy sector. Furthermore, the article analyzes dynamic effects of different shocks on value added growth and the variance growth of value added growth by VEC models.

The origin of the monetary approach to balance of payments (MABP) can be summarized in the proposition that the balance of payments (BOPs) basically is a monetary phenomenon. The essential aim of this study is an investigation of MABP in 12 sample developing countries including Iran. If BOP s of these countries are consistent with the assumptions of the MABP then monetary contraction could be an alternative strategy to real devalution in order to improve the BOP s deficit. It is concluded that the MABP on the basis of the results obtained is not applicable. It means that an increase/or decrease in domestic money supply by monetary authorities cannot bring about a corresponding outflow/or inflow in their international reserves.

Most of the exchange rate determining models are based on the assumption of being determined in an efficient market. Therefore, several methods for testing market efficiency have been created and tested. Among them a modified go round random method was chosen. Having tested weak form of these methods in the Iranian market during the period of 1370-78 based on weekly data, one finds that at the early stage of the period in question, the efficiency, even in the weak form was not approved. However, at the end of the period in question, since a stable foreign exchange policy method was followed and as the market expectation formation occured, some acceptable degree of weak efficieny was revealed by this test.

With respect to the value of Rial, the well known concepts, of Economic terms are miss used in Iranian economic circles, academic or policy making centers. Such confusions have costed too much for Iran economy. Although the points which are made look very conventional and clear, but often seems it is ignored. Therefore we might need to remind few points in this regard: First, the distinction of real and nominal value of Rial are defined. Second, it is made clear that the value of Rial is not a policy goal, but it is an endogenous variable which is determined by economic policy, such as, monetary or fiscal policies. Third, since the oil revenue is very volatile, foreign reserves should be higher than the one in the other typical economies, Fourth, the oil revenue is monopolised by the government, therefore the government could highy influence the value of Rial, just in the short run. Thus, the government is advised not to appreciate nominal or real value of Rial in the short run due to increment in oil prices. (which unfortunately, has been the case in the last two years).

The event of September 11th, has been one of the most important issues of the new century. This event is considered an important subject of investors since many of them may no longer consider the United State of America as a safe place to keep their investment and may wish to transfer their fund in to other places. Since the country is currently supporting the Zionism regime, therefore many people may think that the United State will not be a safe heaven for investors in long horizon. In this paper, we present a technical method in order to minimize the risk involved with the distribution in basket of currency. We study the effect of September accident on fluctuation of different currencies and provide a method to minimize the risk involved.

Usually, financial system of any country is based upon money and: capital market. In developed countries the capital markets is at the center of I the financial system. In "Contrast in the majority of the developing- countries, the money market claims the major share of the financial market. In such system banks take the double role of capital markets and companies due to lack of a well developed capital market are heavily dependent upon the banking system for the capital needs. In Iran, like most of the other developing countries, the domestic: money market plays the main role in the financtal market. Unfortunately, although Tehran Stock Exchange-as the sole component of domestic capital market was established 30 years ago, it has not found it"s real own place in economy of Iran. The factors Mt have caused inefficiency of Iranian capital market, are as follows: - Weak structure of Tehran Stock Exchange, directly influences and interference of government and other governmental organization particularly monetary sector in Tehran Stock Exchange (TSE). - Untransparency and .lack of information about listing companies. - Weak structure of Tehran Stock Exchange, direct government influence and other organizational interfereces in TSE, like commercial laws, taxtation Acts and--TSE regutations, incomplete capital market law. - Unity of primary and secondary markets. - Lack of derivative markets and commodity exchange. Hence, we need to consider the capital market problems and obstacles and examining of unexpansion factors in TSE.

The quantity and quality of human resource changing problem at different organizational level for promoting precise planning, for the better use of human resource, the movement and positional circulation of human resource according to organizational chart, educational problem of human resource, process of planning improvement and adopting a suitable organizational strategy form the contents of this article. Also, considering dead lock and estimation of human resource needed and finding a way of passing from present situation to an optimized one, are the other points which have been paid attention to, in this article.