NONLINEAR EFFECTS OF MACROECONOMIC VARIABLES ON ECONOMIC GROWTH BASED ON STR APPROACH: THE CASE OF IRAN

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MEHRARA MOHSEN; SARGOLZAEI MOSTAFA

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Journal: JOURNAL OF APPLIED ECONOMICS STUDIES IN IRAN Year:2012 | Volume:1 | Issue:1 Page(s): 1-39

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Information Journal Paper

Title

NONLINEAR EFFECTS OF MACROECONOMIC VARIABLES ON ECONOMIC GROWTH BASED ON STR APPROACH: THE CASE OF IRAN

Author(s)

MEHRARA MOHSEN | SARGOLZAEI MOSTAFA | Issue Writer Certificate

Keywords

ECONOMIC GROWTHQ2

MACROECONOMIC VARIABLESQ2

SMOOTH TRANSITION REGRESSIONSQ2

ECONOMIC DISEQUILIBRIUMQ2

Abstract

In this paper, we examine the determinants of ECONOMIC GROWTH in Iran over the period 1338-1386 based on linear as well as non linear SMOOTH TRANSITION REGRESSIONS (STR). In model specification, ECONOMIC DISEQUILIBRIUM including money, exchange rate and output gaps are entered as explanatory variables in addition to the explanatory conventional ones such as investment, government spends and oil revenues representing demand and supply sides factors. The results show that nonlinear specifications outperform the linear ones which is in a great agreement with the main hypothesis at this study. In nonlinear specification, the model coefficients change along with foreign or exchange rate disequilibrium. In first regime (defined as domestic currency appreciation), negative oil shocks, real balances, investment to output ratio, government spending and ECONOMIC DISEQUILIBRIUM have strong and significant effects on ECONOMIC GROWTH. However, in the second regime (domestic currency depreciation), the negative oil shocks, investment ratio and government spending have much less impacts with real balance variable leaving stronger impacts on ECONOMIC GROWTH.

Cites

CALCULATION OF WELFARE COSTS OF INFLATION IN IRAN

References

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APA: Copy

MEHRARA, MOHSEN, & SARGOLZAEI, MOSTAFA. (2012). NONLINEAR EFFECTS OF MACROECONOMIC VARIABLES ON ECONOMIC GROWTH BASED ON STR APPROACH: THE CASE OF IRAN. JOURNAL OF APPLIED ECONOMICS STUDIES IN IRAN, 1(1), 1-39. SID. https://sid.ir/paper/226582/en

Vancouver: Copy

MEHRARA MOHSEN, SARGOLZAEI MOSTAFA. NONLINEAR EFFECTS OF MACROECONOMIC VARIABLES ON ECONOMIC GROWTH BASED ON STR APPROACH: THE CASE OF IRAN. JOURNAL OF APPLIED ECONOMICS STUDIES IN IRAN[Internet]. 2012;1(1):1-39. Available from: https://sid.ir/paper/226582/en

IEEE: Copy

MOHSEN MEHRARA, and MOSTAFA SARGOLZAEI, “NONLINEAR EFFECTS OF MACROECONOMIC VARIABLES ON ECONOMIC GROWTH BASED ON STR APPROACH: THE CASE OF IRAN,” JOURNAL OF APPLIED ECONOMICS STUDIES IN IRAN, vol. 1, no. 1, pp. 1–39, 2012, [Online]. Available: https://sid.ir/paper/226582/en

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