Objective: Financial spillovers are commonly defined as occurrences where fluctuations in the price of an asset in one country (or region) trigger changes in the prices of the same asset or other assets in another country (or region). Our country's economy, since the discovery of OIL in it; has always relied on this product. It is common among stock market participants that the price of this product fluctuates; it causes fluctuations in the stock market. The present article seeks to investigate the existence of spillover between the Tehran Stock EXCHANGE and the OIL market. Methods: Using daily data on daily returns on the Tehran Stock EXCHANGE index and West Texas Intermediate OIL prices during the period December 5, 2008, to November 4, 2019, and the vector autoregressive model we examined spillover between the two markets. This article also examines the Granger causality test between the two markets. Results: After performing the augmented Dickey-Fuller test and ensuring the stationary of both time-series data; the vector autoregressive model was estimated. Length of optimal lags; With regard to the Akaike information criteria; was determined seven days. According to the results of this article, there is no spillover between the two markets and OIL and the stock market are no other cause of fluctuation. In the time series returns on the index; everyday return has a significant relationship with a return of one day; two days; three days; five days and seven days ago. OIL returns have no significant relationship with their amount in any of the previous seven days except the previous day. According to the Granger causality test, the p-value (prob. ) in both directions was more than 5%, and therefore the return on OIL and the index are not the other cause of the Granger test. Also based on the impulse response function (IRF); the shock to the index and OIL returns decays after twelve and eight days, respectively. Conclusion: Contrary to what was expected; there is no spillover between the two markets. As a result, other factors are involved in changing prices and causing stock market shocks.

The initial discrepancy of «Neorealism» and «Neoliberal Institutionalism» reffers to the matter of cooperation in international relations. This is because, the first yieldes relative gains, while the latter accountes on absolute gains in cooperative atmosphere. Also Neoliberal Institutionalism, unlike Neorealism, believes that with the help of international institutions, one can gain international cooperation. The second step of this argument is structured around the competing views of «energy independence» and «energy interdependence» regardes. Then we apply this framework to Iranian OIL and gas trade structure with current statistics to support the validity of cooperation from energy interdependence point of view.

There is long and huge literature about the impact of EXCHANGE rate on economy. It is also interesting to investigate the impact of EXCHANGE rate volatility on export. In this paper, using volatility of real weighted EXCHANGE rate, this investigation is done for non-OIL export in Iran. Conditional standard error and standard error of moving average are used to quantify the volatility of EXCHANGE rate. Johansen – Juselius Method and ARDL are used for estimation. Positive effect of EXCHANGE rate and negative effect of its volatility were approved.

This paper examines factors influencing the choice of EXCHANGE rate regime in OIL producing countries. Prevailing theories in selecting EXCHANGE rate regime include optimum currency area, political economy theory, and currency crisis. In this survey the matter has been studied regarding political economy theory. The variables used in the economic and political structure of the considered countries indicate that from 1974 to 2011 as many as 31 countries by using Panel Logit model have been studied. The result suggests the influence of political structure, OIL rent, government ideology and economic capacity on specifying the EXCHANGE rate regime. Thus, the more democratic political structure, as well as the more leftist government ideology and also the wider economic capacity increase, the likelihood of choosing a flexible regime, If OIL rent and dependence on OIL revenue increase there will be a higher probability of implementing a fixed regime.

Expanding non-OIL export to get rid of one-product economy has been known as a solution for economic development in Iran. Hence, it is necessary to study factors affecting this economic variable. The EXCHANGE rate and risk associated with its unexpected volatilities can be noted as the factors affecting export. On this basis, this research aims to investigate the effect of real EXCHANGE rate risk on Iran’s non-OIL export. To do this, the disaggregate data belonging to 13 Iran’s trading partners over the period of 1985-2010 was used. The panel data approach was also utilized in the analysis process. Furthermore, to more accurate investigate of this subject, 7 alternative criteria were used to assess the volatility of real EXCHANGE rate. The results indicated that the EXCHANGE rate risk has a positive and significant effect on Iran’s non-OIL export in the short-run. This result could be attributed to the positive nature of EXCHANGE rate volatility in Iran so that this matter could change the expectations of economic agents, especially exporters, to improve the general trend of real EXCHANGE rate.