A STUDY OF THE EFFECT OF PARTICIPATION BONDS' RATE OF RETURN ON IRAN'S ECONOMIC VALUE ADDED GROWTH

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JALAEE SEYYED ABDOLMAJID; MIR HEDIEH; RAHIMIPOUR AKBAR

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Journal: ISLAMIC FINANCE RESEARCHES Year:2018 | Volume:7 | Issue:2 (14) Page(s): 339-372

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Title

A STUDY OF THE EFFECT OF PARTICIPATION BONDS' RATE OF RETURN ON IRAN'S ECONOMIC VALUE ADDED GROWTH

Author(s)

JALAEE SEYYED ABDOLMAJID | MIR HEDIEH | RAHIMIPOUR AKBAR | Issue Writer Certificate

Keywords

BONDSQ2

ECONOMIC VALUE ADDEDQ2

RATE OF RETURNQ1

Abstract

One of the most important financial instruments of money and capital markets in the capitalist economy is BONDS. Financing companies, reducing budget deficit of ministries and municipalities in their national projects and construction management plans and conducting monetary policy through open market operations, make a portion of the application of this tool. Nevertheless, the usury based nature of this market created a big challenge for Islamic countries' money and capital markets. In the absence of BONDS, Islamic scholars were led to devise new financial instruments like participation BONDS by referring to Islamic sources.Given the full functionality of this instrument due to its on account profits and Islamic nature, this study sought to answer the question of how participation BONDS' RATE OF RETURN would affect the value added. Since in Iranian economy, participation BONDS' RATE OF RETURN are determined on the average higher than the international standards, the results show that this has had a meaningfully negative effect on Iran's value added. Therefore, this study concludes that, without undermining the importance of the BONDS, participation BONDS' RATE OF RETURN must have the necessary proportion to the ECONOMIC VALUE ADDED.Since in Iranian economy, participation BONDS' RATE OF RETURN are determined on the average higher than the international standards, the results show that this has had a meaningfully negative effect on Iran's value added. Therefore, this study concludes that, without undermining the importance of the BONDS, participation BONDS' RATE OF RETURN must have the necessary proportion to the ECONOMIC VALUE ADDED.

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APA: Copy

JALAEE, SEYYED ABDOLMAJID, MIR, HEDIEH, & RAHIMIPOUR, AKBAR. (2018). A STUDY OF THE EFFECT OF PARTICIPATION BONDS' RATE OF RETURN ON IRAN'S ECONOMIC VALUE ADDED GROWTH. ISLAMIC FINANCE RESEARCHES, 7(2 (14) ), 339-372. SID. https://sid.ir/paper/254986/en

Vancouver: Copy

JALAEE SEYYED ABDOLMAJID, MIR HEDIEH, RAHIMIPOUR AKBAR. A STUDY OF THE EFFECT OF PARTICIPATION BONDS' RATE OF RETURN ON IRAN'S ECONOMIC VALUE ADDED GROWTH. ISLAMIC FINANCE RESEARCHES[Internet]. 2018;7(2 (14) ):339-372. Available from: https://sid.ir/paper/254986/en

IEEE: Copy

SEYYED ABDOLMAJID JALAEE, HEDIEH MIR, and AKBAR RAHIMIPOUR, “A STUDY OF THE EFFECT OF PARTICIPATION BONDS' RATE OF RETURN ON IRAN'S ECONOMIC VALUE ADDED GROWTH,” ISLAMIC FINANCE RESEARCHES, vol. 7, no. 2 (14) , pp. 339–372, 2018, [Online]. Available: https://sid.ir/paper/254986/en

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