@article { author = {Taghvaee, Saeed Mohamad and Omaraee, Behrouz and Mohamad Taghvaee, Vahid}, title = {Maritime Transportation, Environmental Pollution, and Economic Growth in Iran: Using Dynamic Log Linear Model and Granger Causality Approach}, journal = {Iranian Economic Review}, volume = {21}, number = {2}, pages = {185-210}, year = {2017}, publisher = {University of Tehran}, issn = {1026-6542}, eissn = {2588-6096}, doi = {10.22059/ier.2017.62100}, abstract = {  The main purpose of this study is to estimate the maritime transportation elasticities of the environmental pollution and economic growth in Iran within the short-run and long-run to find out the relationships among maritime transportation, environmental pollution and economic growth. The lagged endogenous model (a dynamic log-linear model that we used) is estimated using two distinctive approaches: single-equation one with OLS and simultaneous-equations with GMM. The results of both methods unanimously show that the maritime transportation elasticities of both environmental pollution and economic growth are low and positive just like the economic growth elasticities of environmental pollution. Therefore, environmental pollution has a positive relationship with the maritime transportation and economic growth, confirming the Pollution Haven Hypothesis; and the economic growth responds to the maritime transportation slightly and slowly. The policy-makers are advised to improve the environmentally-polluting infrastructure of the maritime transportation rather than restricting the growth of this sector.  }, keywords = {Keywords: Maritime Transportation,Environmental pollution,Economic Growth,trade,CO2 Emissions. JEL Classification: C22,Q18,Q44}, url = {https://ier.ut.ac.ir/article_62100.html}, eprint = {https://ier.ut.ac.ir/article_62100_68df1d6b250812d07f61131446e42037.pdf} } @article { author = {Mohammadi, Hosein and Shahnoushi, Naser and Ronaghi, Marzieh}, title = {The Effects of Governance Indicators on Per Capita Income, Investment and Employment in Selected Mena Countries}, journal = {Iranian Economic Review}, volume = {21}, number = {2}, pages = {211-229}, year = {2017}, publisher = {University of Tehran}, issn = {1026-6542}, eissn = {2588-6096}, doi = {10.22059/ier.2017.62101}, abstract = {Governance is a way of exercising power in economic and social resource management of a country. Good governance criteria have different weights and relation with regard to the conditions and information of any country. This study is a descriptive survey and has been carried out to calculate the coefficients and weights of each indicator of good governance in Mena countries and identification of the causal relationship between these indicators and their effects on per capita income, investment and employment. After identifying indicators of good governance by Granger causality test and vector Auto-regression test, causal relationships of good governance indices were analyzed in the form of statistical hypotheses. Then, the weight of each indicator was calculated by distributing a questionnaire among the experts in the field of good governance by using fuzzy hierarchical analysis and the relationship between main governance indicators and employment-highlighted indices investigated. Among the research results, high weight of accountability, voice and accountability and social justice indicators can be pointed out compared to other good governance indices. By examining panel systematic investigating of per capita income, investment and employment on governance indicators and other variables, such as credits, export and interest rates, it is observed that governance indicators have a significant positive effect in each three regression equations.  }, keywords = {Keywords: Good Governance,Voice and Accountability,per capita income,Employment. JEL Classification: E61,E69,G18}, url = {https://ier.ut.ac.ir/article_62101.html}, eprint = {https://ier.ut.ac.ir/article_62101_1163127670b15318f0505b567541e754.pdf} } @article { author = {Motameni, Mani}, title = {A Novel Analysis of Risk Sharing Effects on Income Inequality in Informal Insurances}, journal = {Iranian Economic Review}, volume = {21}, number = {2}, pages = {230-240}, year = {2017}, publisher = {University of Tehran}, issn = {1026-6542}, eissn = {2588-6096}, doi = {10.22059/ier.2017.62102}, abstract = {T his study aims to demonstrate that joining in risk sharing network leads to the reduction in incomes volatility. In this respect, income variance for a group of members in an informal insurance is modelled in which income variance prior to joining risk sharing network and after joining is analyzed statistically. A Monte Carlo simulation technique is used to prove the result. To extend and analyze the sensitivity, a simulation is performed on either small size population or large size population, the probability of occurrence and the amount of loss are also repeated in all levels. The result of study shows that joining to risk sharing network significantly decreases the income volatility. It is also proved that the probability of occurrence and the amount of loss positively affect the intensity of income volatility.}, keywords = {Keywords: Risk Sharing,Income Inequality,Informal Insurance. JEL Classification: G29,D33,G32}, url = {https://ier.ut.ac.ir/article_62102.html}, eprint = {https://ier.ut.ac.ir/article_62102_3889947a50be75b72eb411203da73d44.pdf} } @article { author = {Samadi, Ali Hussein and Sajedianfard, Najmeh}, title = {Tax Evasion in Oil-Exporting Countries: The Case of Iran}, journal = {Iranian Economic Review}, volume = {21}, number = {2}, pages = {241-267}, year = {2017}, publisher = {University of Tehran}, issn = {1026-6542}, eissn = {2588-6096}, doi = {10.22059/ier.2017.62103}, abstract = {N umerous studies have been conducted about the determinants of tax evasion. In all of these studies, this phenomenon has been taken into account in the framework of balanced budget and a non-oil economy. In this study the determinants are examined by extending an endogenous growth model and considering two cases for the government budget in an oil-exporting country along with its budget deficit. In addition, optimal tax rate, effective tax rate, economic growth rate, and rate of tax evasion are estimated. Based on Iran’s economy, the results show that the probability of detecting individuals and fine rate lead to an ambiguous effect on the rate of tax evasion, and furthermore, depending on the targeting, it could be positive or negative. Meanwhile the relationship between the changes in the parameter of private sector’s cost for tax evasion and changes in tax evasion is negative.  }, keywords = {Keywords: Endogenous Growth,tax evasion,Oil-exporting Countries,Iran. JEL Classification: H11,H22,H31,H32,H53,C61,C63,O41}, url = {https://ier.ut.ac.ir/article_62103.html}, eprint = {https://ier.ut.ac.ir/article_62103_a382571dd52d3b0bbf8d66189cb256cf.pdf} } @article { author = {Sharif Karimi, Mohammad and Cieślik, Andrzej}, title = {Foreign Knowledge Spillovers and Total Factor Productivity Growth: Evidence from Four ASEAN Countries}, journal = {Iranian Economic Review}, volume = {21}, number = {2}, pages = {267-299}, year = {2017}, publisher = {University of Tehran}, issn = {1026-6542}, eissn = {2588-6096}, doi = {10.22059/ier.2017.62104}, abstract = {This study examines the dynamic relationship between foreign direct investment (FDI) and total factor productivity having controlled for other channels of external openness: exports and imports in four ASEAN countries: Indonesia, Malaysia, Singapore, and Thailand. We employ the panel data analysis PDA (fixed effect and dynamic panel models) as well as the panel cointegration and Granger causality methods, using the data set for the period 1975-2010. The empirical results provide strong evidence on the impact of FDI and other channels of external openness on total factor productivity in ASEAN countries. We also find a short run and long run causality among these variables during the period of our study.  }, keywords = {Keywords: ASEAN Countries,causality,Exports,FDI,Imports,Total Factor Productivity. JEL Classification: C3,F3,O1,I2}, url = {https://ier.ut.ac.ir/article_62104.html}, eprint = {https://ier.ut.ac.ir/article_62104_d70612df66ba0902cf565f4a388ec744.pdf} } @article { author = {Chang, Tsangyao and Ranjbar, Omid and Jooste, Charl}, title = {Stock Market Interactions between the BRICS and the United States: Evidence from Asymmetric Granger Causality Tests in the Frequency Domain}, journal = {Iranian Economic Review}, volume = {21}, number = {2}, pages = {297-320}, year = {2017}, publisher = {University of Tehran}, issn = {1026-6542}, eissn = {2588-6096}, doi = {10.22059/ier.2017.62105}, abstract = {The interaction of BRICS stock markets with the United States is studied using an asymmetric Granger causality test based on the frequency domain. This type of analysis allows for both positive and negative shocks over different horizons. There is a clear bivariate causality that runs both ways between the United States stock market and the respective BRICS markets. In addition, both negative and positive shocks in the United States stock market affect the majority of BRICS markets.  }, keywords = {Keywords: Granger-Causality,Asymmetry,Frequency domain,Stock market,BRICS Countries. JEL Classification: C1,G15}, url = {https://ier.ut.ac.ir/article_62105.html}, eprint = {https://ier.ut.ac.ir/article_62105_216d81796bdddfe64b9c1434d76943bf.pdf} } @article { author = {Bazargan, Abbas and Ghasemi, Rohollah and Eftekhar Ardebili, Mohammad and Zarei, Mohammad}, title = {The Relationship Between ‘Higher Education and Training’ and ‘Business Sophistication’}, journal = {Iranian Economic Review}, volume = {21}, number = {2}, pages = {319-341}, year = {2017}, publisher = {University of Tehran}, issn = {1026-6542}, eissn = {2588-6096}, doi = {10.22059/ier.2017.62106}, abstract = {Economics of education which investigates economic issues related to education - presents a framework which leads to better schedules and policy-making. On the other hand, the concept of competitiveness has drawn increasing attention of both scholars and governors in the past decade. The World Economic Forum (WEF) has published Global Competitiveness Index (GCI) in order to measure national competitiveness. The purpose of this paper is to investigate the interaction between the two sets of ‘Higher Education and Training’ (One of the pillars of GCI) and ‘Business sophistication’ both of which have been addressed by education of economics and not been profoundly investigated. To achieve the research aims, a descriptive correlational study has been used. The sample is 144 countries whose data were included in 2014-2015 report. Moreover, a canonical correlation analysis (CCA) has been employed to investigate the interaction between two sets of ‘Higher education and training’ and ‘Business sophistication’. The findings of the research revealed that a significant and positive relationship between two sets and more than 77.85% of changes in ‘Business sophistication’ can be predicted by changes in ‘Higher education and training’. In ‘Higher education and training’ sub-indexes ‘Local availability of research and training services’, ‘Extent of staff training’, ‘Internet access in schools’, and ‘Quality of management schools’ had the highest effect in creating this relationship.}, keywords = {Keywords: Education Economics,Higher Education and Training,Global Competitiveness,Business sophistication,Canonical Correlation Analysis. JEL Classification: I25,I23,F00,M19,C13}, url = {https://ier.ut.ac.ir/article_62106.html}, eprint = {https://ier.ut.ac.ir/article_62106_f3b653dc00c42bc9e407082457b26845.pdf} } @article { author = {Korkut Pata, Ugur and Yurtkuran, Suleyman}, title = {The Relationship between Electricity Consumption and Economic Growth in the Selected Member Countries of the International Energy Agency (IEA): An ARDL Bounds Test Approach}, journal = {Iranian Economic Review}, volume = {21}, number = {2}, pages = {341-364}, year = {2017}, publisher = {University of Tehran}, issn = {1026-6542}, eissn = {2588-6096}, doi = {10.22059/ier.2017.62107}, abstract = {In this study, the causality links between electricity consumption and economic growth are investigated for Turkey, the United Kingdom, Spain, Belgium and United States covering the period from 1964 to 2014. The results of autoregressive distributed lag (ARDL) approach, bounds testing and error correction model show that there is a positive one-way and statistically significant causality moving from electricity consumption to economic growth in the short- and long-run. The empirical results show that electricity consumption and economic growth are not neutral with respect to each other, and therefore energy conservation policies should not be applied. The growth hypothesis is valid for five IEA countries. Electricity consumption encouraging policies support to these countries economic growth.  }, keywords = {Keywords:Electricity Consumption,economic growth,ARDL,Bounds test,Cointegration. JEL Classification: C22,Q43,Q48}, url = {https://ier.ut.ac.ir/article_62107.html}, eprint = {https://ier.ut.ac.ir/article_62107_d19785fe85cf21d68d4b57bfe6f2da68.pdf} } @article { author = {Dehghan Shabani, Zahra and Shahnazi, Rouhollah}, title = {The Short and Long Run Causality between Agglomeration and Productivity}, journal = {Iranian Economic Review}, volume = {21}, number = {2}, pages = {363-385}, year = {2017}, publisher = {University of Tehran}, issn = {1026-6542}, eissn = {2588-6096}, doi = {10.22059/ier.2017.62108}, abstract = {This study is to investigate the short- and long-run causal relationship between agglomeration (localization and urbanization) economies and labor productivity in the manufacturing sector of 28 Iranian provinces over an 11-year period, 2001–2011. Fully Modified Ordinary Least Squares (FMOLS) method was used to estimate our long-run panel data model. The empirical findings suggested that localization and urbanization economies had a positive and statistically significant effect on labor productivity in the long-run equilibrium. Then, the Generalized Method of Moments (GMM) was employed to examine Granger Causality between each pair of variables. The results revealed a bidirectional short-run Granger causality between localization economies and labor productivity. Additionally, a bidirectional short-run causal relationship was found between urbanization economies and labor productivity for all the manufacturing industries. In the long run, however, there seemed to be bidirectional causality between localization economies and productivity and also between urbanization economies and labor productivity in each manufacturing industry.  }, keywords = {Keywords: Agglomeration Economies,Labor productivity,Granger Causality,Cross-Section Dependence,Iranian Manufacturing Industries. JEL Classification: C23,R12,L61,L62,L63,L64,L65,L66,L76,L68,L69}, url = {https://ier.ut.ac.ir/article_62108.html}, eprint = {https://ier.ut.ac.ir/article_62108_fe3124ed5c5504e2d1a2fd41c2d39bfb.pdf} } @article { author = {Shavvalpour, Saeed and Khanjarpanah, Hossein and Zamani, Farhad and Jabbarzadeh, Armin}, title = {Petrochemical Products Market and Stock Market Returns: Empirical Evidence from Tehran Stock Exchange}, journal = {Iranian Economic Review}, volume = {21}, number = {2}, pages = {383-403}, year = {2017}, publisher = {University of Tehran}, issn = {1026-6542}, eissn = {2588-6096}, doi = {10.22059/ier.2017.62109}, abstract = {While the relationship between stock market return and oil price is of great interest to researchers, previous studies do not investigate stock market return with petrochemical products market. In this paper, we analyzed the relationship between prices of main petrochemical products and stock returns of petrochemical companies in Tehran stock exchange. Using a panel data model and GLS estimation method, we investigated the effect of methanol, propane, and urea prices along with financial variables on stock returns of six big petrochemical companies during 2001 to 2013. Results show that although changes in prices of petrochemical products have direct effect on stock returns of all petrochemical companies, this effect is much higher for smaller companies.}, keywords = {Keywords: Petrochemical Products,Stock market,panel data,Tehran Stock Exchange,GLS Estimation. JEL Classification: B26,C01,C23,C58,D53}, url = {https://ier.ut.ac.ir/article_62109.html}, eprint = {https://ier.ut.ac.ir/article_62109_948d72de426f5cbefff8d0893ff7a895.pdf} } @article { author = {Asghari, Maryam and Oliagard, Elham}, title = {Trade and National Security: A Test for Best-Known Hypothesis}, journal = {Iranian Economic Review}, volume = {21}, number = {2}, pages = {403-431}, year = {2017}, publisher = {University of Tehran}, issn = {1026-6542}, eissn = {2588-6096}, doi = {10.22059/ier.2017.62110}, abstract = {National security depends on soft power, the ability of a country to generate and use its economic power and to project its national values. It also depends on long-term factors that contribute to economic growth and increase the total resources base available not only for defense but to provide economic security in the form of income and business opportunities for individuals. The economic issues related to national security are both broad and complex. The economy and economic tools, however, enter into national security considerations in several other ways that include economic sanctions, export controls, economic incentives, expeditionary economics, and economic issues as a cause of conflict. The best-known hypothesis linking trade and conflict among nation-states says, given other thing countries that trade more with each other are less likely to go to war. The argument is a simple application of the theory of self-enforcing cooperation in repeated games. This paper focuses on the effect of trade integration between Iran and its important trading partners include Italy, Germany, Greece, Spain, France, Switzerland, Russia, Netherland, Belgium, Sweden, UK, Austria, on Iran’s national security over 1980-2015. The results indicate that the trade integration has positive effect on Iran’s national security in this period and the best-known hypothesis is valid.  }, keywords = {Keywords: Notional Security,trade,Best-Known Hypothesis,Iran. JEL Classification: F19,F52,N45}, url = {https://ier.ut.ac.ir/article_62110.html}, eprint = {https://ier.ut.ac.ir/article_62110_3f4dcfa7ff14a8423fe899b2e4f3757c.pdf} } @article { author = {Shiani, Malihe and Mousavi, Mir Taher and Zare, Hanan}, title = {The Measurement of Social Capital in Tehran}, journal = {Iranian Economic Review}, volume = {21}, number = {2}, pages = {431-447}, year = {2017}, publisher = {University of Tehran}, issn = {1026-6542}, eissn = {2588-6096}, doi = {10.22059/ier.2017.62111}, abstract = {This paper examines the dimensions of social capital in Tehran. The data were collected by means of questionnaire. 2400 residents of Tehran were selected by stratified sampling who were over 15 years old. The theories of scholars such as Pierre Bourdieu, James Coleman, and Robert Putnam in definition of social capital are applied. Social capital has been studied in five aspects including associational relationship, norms and social trust, social bonding and interpersonal trust, social cohesion and social support. Almost in all dimensions, social capital was medium and also the sum scale of it indicated that the rate of social capital in Tehran is medium.  }, keywords = {Keywords: social capital,Associational Relationship,Norms and Social Trust,Bonding and Interpersonal Trust,Social cohesion,Social Support. JEL Classification: Z1,Z13,Z19,O}, url = {https://ier.ut.ac.ir/article_62111.html}, eprint = {https://ier.ut.ac.ir/article_62111_aa9240ce2b4feef3d30758230cbc1f50.pdf} }