Is Oil curse or a Blessing for Iran's Financial Development?

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Roudari Soheil; Tehranchian Amirmansour; Zarei Pegah

مرکز اطلاعات علمی Scientific Information Database (SID) - Trusted Source for Research and Academic Resources

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Journal: ENERGY ECONOMICS REVIEW Year:2021 | Volume:17 | Issue:70 Page(s): 85-116

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Information Journal Paper

Title

Is Oil curse or a Blessing for Iran's Financial Development?

Author(s)

Roudari Soheil | Tehranchian Amirmansour | Zarei Pegah | Issue Writer Certificate

Keywords

Resource CurseQ2

Financial DevelopmentQ2

Trade OpennessQ1

Economic GrowthQ2

Markov Switching ModelQ1

Abstract

In the present paper we study the effect of oil prices on the Financial Development index based on the banking network and the stock market for the period 1357-1396 by using the Markov Switching Model. The results show that if the Financial Development based on the stock market is in a low regime, the increase in oil prices is not a curse for Financial Development, with no significant effect either positive or negative while if it is in a high regime, then oil income acts as a curse and reduces the Financial Development of the stock market. If the Financial Development index is in the middle regime, the increase in oil prices will not be a curse and will not reduce bank Financial Development. Also, the variables of Trade Openness and Economic Growth have different effects depending on the type of Financial Development regime. According to the research results, the increase in oil prices and revenues does not always lead to a decrease in the country’ s Financial Development. The impact depends on the stability and speed of Financial Development.

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APA: Copy

Roudari, Soheil, Tehranchian, Amirmansour, & Zarei, Pegah. (2021). Is Oil curse or a Blessing for Iran's Financial Development?. ENERGY ECONOMICS REVIEW, 17(70 ), 85-116. SID. https://sid.ir/paper/411469/en

Vancouver: Copy

Roudari Soheil, Tehranchian Amirmansour, Zarei Pegah. Is Oil curse or a Blessing for Iran's Financial Development?. ENERGY ECONOMICS REVIEW[Internet]. 2021;17(70 ):85-116. Available from: https://sid.ir/paper/411469/en

IEEE: Copy

Soheil Roudari, Amirmansour Tehranchian, and Pegah Zarei, “Is Oil curse or a Blessing for Iran's Financial Development?,” ENERGY ECONOMICS REVIEW, vol. 17, no. 70 , pp. 85–116, 2021, [Online]. Available: https://sid.ir/paper/411469/en

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