Journal of Economic Research and Policies
Year:2014 | Volume:22 | Issue:70|Papers Count:14

This study assesses the impacts of ECO regional integration on some important economic variables in Eco members' countries. The role of regional trade agreements in increasing of exports and imports, welfare and improving of some other economic variables of regional economies has been the subject of economist’s debate. The existing empirical literature doesn’t have addressed this issue for ECO. This paper uses the global trade analysis project (GTAP) modeling approach to simulate the reduction of trade barriers among ECO members. In a standard GE closure, using a multi-region, multi-commodity GTAP approach, the simulation results show that trade policy reform will improve the ECO members' economic performance, through greater exports and imports, output, lower import prices, higher endowment demand, higher consumption and greater utility and welfare. Decomposition of welfare changes shows that varying trade policy has different effects on ECO members' welfare components.

Although a few studies have been done in the field of life duration of new entrants in Iranian manufacturing industries, this topic is nearly neglected in manufacturing industry sector as a whole. This paper tries to introduce and analyses factors affect the life duration of Iranian manufacturing industries. In general, fourteen variables in four classifications including firm, industry, expenditure and humanity characteristics are applied. In accordance with previous literature, the results of this paper also show that entry size, profitability, efficiency, concentration rate, minimum efficient scale, industry growth rate, investment, advertising expenditure, training expenditure, education and labor force skill factors have a positive and significant effect on life duration of new firms. There is a need to mention that entry rates affect life duration inversely. From policy point of view and with respect to the findings accentuate on the role of soft business support on life duration instead of hard business support and the necessity of paying more attention in this regard.

Information and Communications technology has numerous influences effects on economy at micro and macro levels. Effect of ICT on employment at country level and consequently on the employment of manufacturing industries is a critical issue the paper focuses on the effects of ICT on the employment of Iran manufacturing industries from 2006 to 2009 by Extracting labor demand function from a CES production function using cost minimization approach. The labor demand function for different levels of labor skills including simple workers, skillful workers, Technicians and engineers has been estimated by a panel data approach by using ICT variable in a process innovation in which the technology has been used. Results show that ICT has a positive effect on total employment and skillful workers’ employment while it has a negative effect on simple workers’ employment.

The main objective of this paper is to investigate the impact of inflationary environment on degree of exchange rate pass through in Iran over the period 1975-2009. For this purpose, first high and low inflationary regimes have been derived using the Markov-Switching model and then, the impact of inflationary environments on exchange rate pass through to import prices have been estimate using Johansen-Juselius co integration technique. The empirical findings indicate a slight shift between the exchange rate and import price index and inflationary environments impact on the degree of pass rate on import prices in an asymmetric way, so that the exchange rate pass- through to import price index in high inflation levels is more than in low levels. Also, the results show the marginal cost of the variable partners have a positive and significant impact on the economy, while variable degrees of openness have a significant negative impact on the import prices.

Productivity improvement has been considered as one of the significant strategies for economic growth and competitiveness of firms, as successful countries have gained a considerable portion of their production growth in this way. Specifically, the development of capital markets is considered as one of important tools for achieving sustainable economic growth and increased productivity. The purpose of this study is to investigate the impact of companies Admission on the technical efficiency of the firms. In this regard, 17 companies belonging to the group of cement, lime and gypsum selected and Technical efficiency with DEA approach over three years are calculated before and after listing in stock exchange. The results show that companies productivity would be increased after listing in the Stock Exchange, such a way that the average productivity index has been increased from /603 to /660 After mentioned listing. In addition, by comparing the productivity indicators before and after the listing through a paired comparison test, this increase in efficiency is significant.

This research has characterized to analyze private banking situation. New phenomenon in our country's banking economy has been studied with pathological approach, after reviewing literature and theoretical background. This paper is applicable from the aspect of purpose and is descriptive-survey from the aspect of identity. In order to collect required data, interview and open questionnaire methods have been applied. Statistical population includes banking managers and active experts in this scope. In order to analyze data, qualitative methodology and Delphi technique have been used. In this process, Affinity Diagram approach is also utilized. Regarding the results, 27 cases of barriers of private banking development identified and classified into 3 classes named executive-structured, perceptual-cognitive and unwillingness barriers. It is necessary to mention that five factors including governmental banking, shortage of facilities, financial resource shortages, human resource shortages, lack of comprehensive talent identification system and economic instability are identified as the main barriers.

Targeted subsidies reform, is the most important part of economic development plan in Iran that will lead to change the way that subsidies are paid. With the gradual removal of subsidies from basic goods such as fuel, food, water and electricity; a portion of the proceeds will be paid to the people in cash and the other part has to be spent in development of economic infrastructure by which the class gap between various social groups may also reduced. This study attempts to measure the satisfaction of different income level of the inhabitants of the Urmia city from targeted subsidies plan. Using a questionnaire, the data is collected and to analyze the data, descriptive and inferential statistical methods (ANOVA and t-test) were utilized. Results show that from the perspective of Urmia city citizenry in general, the government has not achieved to the targets of proposed in the context of the economic development plan by targeted subsidies.

Several ways can be used to modeling price adjustment, based on different theories. Due to these differences in assumptions and bases, analyzing monetary policy effects under each approach is quite different. Thereby, having a deep analysis of monetary policy requires a price adjustment model that consistent with economic conditions of the country. This paper, by introducing four model, sticky price (standard new Keynesian model), backward looking model (Phillips curve with adaptive expectations), hybrid new Keynesian and sticky information, shows that with respect to Iran economic data, sticky information model, in describing monetary policy effects, has better performance compare to other models. Moreover, simulation of monetary policy shocks shows that the behavior of inflation and output gap under sticky information model has more consistency with actual effects of monetary policy.

Effective tax rate as one of the most important indicators of tax efficiency has wide applications in economic decisions and policy making. This rate can also be used as a tool for leading investment. This paper investigates the relation of the effective tax rate with dividend policy and Stock return in listed companies in Tehran stock exchange. The study sample included 67 companies listed in Tehran stock exchange during the period 1380-1389. For data analyze and hypothesis testing linear multivariable regression model (OLS) base on cumulative data (pool) has been used. The research results show effective tax rate has a negative and significant effect on dividend policy. Indeed, while increasing effective tax rate, the companies significantly reduce their dividend. Also, results of this study show there is significant and positive relationship between effective tax rates and future stock return. In other words, increasing of effective tax rate, promotes the annual return rate.

The importance of impact of financial Systems on economic growth has become even more pronounced in recent years. Improvement of financial system requires the proper function of government, especially in terms of corruption surveillance, and regulations. This paper is to identify the factors affecting financial development, such as the ratio of domestic credit provided to the private sector to GDP. This paper specially focuses on good governance governance Indexes such as Quality of regulation rank, government Effectiveness, Control of corruption and accountability. For this purpose, we investigate the relationship between financial development and economic growth in the some OPEC countries using panel data method over the period 2011 to 2002. Results of this study support the view that the government should involve in financial sector. The results confirm that good governance, per capita GDP, oil export and labor force has a positive and significant affect and the inflation rate has a negative and significant effect on financial development of OPEC countries.

According to standard new Keynesian theory; an oil price shock pushes costs and increases inflation while lowers output. This relationship is modeled by an improved new Keynesian Philips curve for oil importing countries. However, oil price shock in the oil exporting countries has an additional channel of transmission through oil revenues called wealth effect. This channel do not exists in the standard new Keynesian Philips curve. In this paper, we add oil sector to the standard two-sector new-Keynesian model in order to analyze the cost push and wealth effect of oil price shock in Iranian economy. The developed new Keynesian Philips curve for oil exporting countries in this model depends on real wage, oil price, productivity of both sectors and oil revenues. The dynamic stochastic general equilibrium model is calibrated based on Iranian economy parameters and then solved for impulse response functions. Our results show that wealth effect of oil price shock on inflation is higher due to lower oil share in short term production function and controlled oil prices. The increasing impact of wealth effect on consumption in this model is more than the decreasing effect of cost push. Although labor supply lowers slightly after oil price shock the overall effect on employment and real wages are negative. Consequently, it can be concluded that Iranian economy enters a stagflation after an oil price shock with consumption growth and lower real wages.

Statistical Arbitrage is one of the prevalent methods of profit making by professional investors that has came to literature of financial economics in last decades. This paper describes the concept and instances of statistical arbitrage and tests its applicability in Iran's capital market. On this basis, the concept of statistical arbitrage is presented at first and then, after a review of previous internal studies, statistical arbitrage test methodology and empirical study based on daily observations of Tehran Stock Exchange from 1380 to 1391 is presented. Our results show that all tested momentum trading strategies provide statistical arbitrage conditions and, therefore, all of them are examples of statistical arbitrage. Thus, we can conclude that statistical arbitrage is a good strategy for profit making in Iranian capital market and reciprocally, profit making availability by this strategy shows that Iranian capital market is inefficient.