SOCIAL SECURITY AND ECONOMIC DEVELOPMENT

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HOSSEINI SEYED REZA

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Journal: Journal of Iran's Economic Essays; an Islamic approach Year:2009 | Volume:6 | Issue:11 Page(s): 61-82

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Information Journal Paper

Title

SOCIAL SECURITY AND ECONOMIC DEVELOPMENT

Author(s)

HOSSEINI SEYED REZA | Issue Writer Certificate

Keywords

SOCIAL SECURITYQ2

ECONOMIC GROWTHQ2

SAVINGQ2

MUTUAL SOCIAL RESPONSIBILITYQ2

Abstract

This article studies empirically the causal relationship between the expenditures of SOCIAL SECURITY and economic development in Iran’s economy during the years 1961 to 2003. SOCIAL SECURITY programs can affect economic development through different ways such as their impacts on SAVING motive, work and utilization of labor force.As for the relationship between SOCIAL SECURITY and SAVING, theoretically there exist different views each relying on empirical evidences. Examining the relation between SAVING and SOCIAL SECURITY is necessary in terms of the significance of SAVINGs in providing investment resources and economic development. However, in the final analysis, what is much more important is the nature of the relationship between the expenditures of SOCIAL SECURITY and economic development. Theoretically, there exist three different views in this regard. Peter S. Barch (1969) holds that every single percent increase in the expenditures of SOCIAL SECURITY causes 0.7 increase in ECONOMIC GROWTH rate. Some like Martin Feldstein (1985) reject this view and maintain that SOCIAL SECURITY expenditures act in contrast with the ECONOMIC GROWTH rate of the countries. A third view, such as that put forward by Samuelson (1975) considers this effectiveness to be linked with capital balance as compared with the golden-rule level of SAVING and the type of governing SOCIAL SECURITY system. The present study, while elaborating on this relationship and endeavoring to determine the causality direction, benefits from VAR model and Granger causality test. The article demonstrates in conclusion that there exists a relationship between causality from the expenditures of SOCIAL SECURITY and ECONOMIC GROWTH but the opposite is not true, and increase in SOCIAL SECURITY expenditures shall lead to a meaningful increase in national revenue.

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APA: Copy

HOSSEINI, SEYED REZA. (2009). SOCIAL SECURITY AND ECONOMIC DEVELOPMENT. JOURNAL OF ECONOMIC ESSAYS, 6(11), 61-82. SID. https://sid.ir/paper/108988/en

Vancouver: Copy

HOSSEINI SEYED REZA. SOCIAL SECURITY AND ECONOMIC DEVELOPMENT. JOURNAL OF ECONOMIC ESSAYS[Internet]. 2009;6(11):61-82. Available from: https://sid.ir/paper/108988/en

IEEE: Copy

SEYED REZA HOSSEINI, “SOCIAL SECURITY AND ECONOMIC DEVELOPMENT,” JOURNAL OF ECONOMIC ESSAYS, vol. 6, no. 11, pp. 61–82, 2009, [Online]. Available: https://sid.ir/paper/108988/en

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