ORIGINAL_ARTICLE
The Factors Affecting Environmental Performance Index (EPI) in Selected OPEC Countries
Abstract Nowadays, conservation, maintenance and monitoring of natural resources according to estimated benefits and costs, plays an important role in economic growth and sustainable development. Economic development along with environmental protection, while preserving economic competitiveness by providing eco-friendly technologies, will prevent of loss and waste of environmental resources. One of the most comprehensive and complete environmental indicators which today used to provide a clear and comprehensive picture of environment in each country is Environmental Performance Index (EPI). Therefore, the main purpose of this study is investigation of affecting factors on environmental performance index in selected OPEC countries during the period 2000-2012 by using panel data approach. The results show that governance index, internet users and natural resource abundance index variables have positive and significant effect and openness and the carbon dioxide emissions per GDP have negative and significant effect on environmental performance index in selected OPEC countries. Also the coefficient of human development index (HDI) is positive and insignificant and value added of industry sector is negative and insignificant.
https://ier.ut.ac.ir/article_62925_52f63b1525e543919366d41d56077ba1.pdf
2017-09-01
457
467
10.22059/ier.2017.62925
Keywords: Governance
Environmental Economics
panel data
Natural Resources Abundance. JEL Classification: C33
Q50
C23
Q3
Abolfazl
Shahabadi
shahabadi@basu.ac.ir
1
Faculty of Economics and Social Science, Bu-Ali Sina University, Hamedan, Iran
LEAD_AUTHOR
Hanieh
Samari
haneih.samari1390@basu.ac.ir
2
Faculty of Social Science, Razi University, Kermanshah, Iran
AUTHOR
Morteza
Nemati
nemati.morteza66@gmail.com
3
Faculty of Economics and Social Science, Bu-Ali Sina University, Hamedan, Iran
AUTHOR
References
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ORIGINAL_ARTICLE
An Estimation of The Impact of Economic Sanctions and Oil Price Shocks on Iran-Russian Trade: Evidence from a Gravity- VEC Approach
Abstract This article is an empirical attempt to explore the relationship between sanctions (financial and non-financial), oil price shocks and Iran-Russian bilateral trade flows over the period 1991–2014. In contrast to earlier studies in which a gravity model has been estimated through a panel data approach, in this paper the authors apply a gravity model for only two countries and do the estimations using the vector error correction approach. The overall estimation results indicate that financial sanctions, non-financial sanctions and oil price shocks negatively impact the Iran-Russian trade. Furthermore, financial sanctions had the greatest negative impact on Iran-Russian trade rather than non-financial sanctions and sharp oil price shocks.
https://ier.ut.ac.ir/article_62926_477bbad4b4907c606e6bd123eead1a87.pdf
2017-09-01
469
497
10.22059/ier.2017.62926
Keywords: Iran-Russian Bilateral Trade
sanctions
Oil Price Shocks
Gravity Model
Vector Error Correction Approach. JEL Classification: F42
F51
C13
Ehsan
Rasoulinezhad
1
Department of World Economy, Faculty of Economics, Saint Petersburg State University, St. Petersburg, Russia
LEAD_AUTHOR
Liudmila
Popova
l.v.popova@spbu.ru
2
Department of World Economy, Faculty of Economics, Saint Petersburg State University, St. Petersburg, Russia
AUTHOR
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ORIGINAL_ARTICLE
The Expansion of Location Theories of Firms and Products’ Consistency Using Triangular Distribution Approach
Abstract One of the main criticisms of location models is simplistic assumptions concerning the consumers’ distribution on the street or city. The location models usually make use of uniform distribution of consumers while it is not true in reality, and mostly the consumers’ accumulation is more in the city centers rather than suburb areas. This study deals with selection of optimal location of firms using Lijesen and Reggiani (2013) spoke model and changing the consumers’ distribution from uniform to triangular in a two-step game. In this game, the firms select their location, at the first stage, and enter the price competition at the second stage. Results indicate that the increased number of streets and transportation costs leads to price increase and this indicates that the farther away are the firms from each other, their competition in the market would decrease and the price would increase. If both firms are located in the same distance from city center, they would gain the same market share and more inclined toward being closer to city center or having minimum distance. Moreover, when in the consistency issue include the triangular distribution, Nash equilibrium price is less compared with Rohlfs model (1971) and a greater range of consumers purchase the product.
https://ier.ut.ac.ir/article_62937_dadbb51211e916c274081b16d86a3712.pdf
2017-09-01
497
518
10.22059/ier.2017.62937
Keywords: Location
Triangular Distribution
Consistency
Nash Equilibrium. JEL Classification: D43
E61
C62
Kiumars
Shahbazi
kiumars_shahbazi@yahoo.com
1
Faculty of Economics and Management, Urmia University, Urmia, Iran
LEAD_AUTHOR
Salah
Salimian
2
Faculty of Economics and Management, Urmia University, Urmia, Iran
AUTHOR
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https://www.webmeets.com/files/papers/earie/2013/501/Lijesen_Reggiani_0313.pdf.
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35
ORIGINAL_ARTICLE
The Historical and Variance Decomposition for Oil Price, Oil Consumption, OPEC and Non-OPEC Oil Production
Abstract In this paper, the behavior of the real oil price and OPEC and non-OPEC oil production during 1973-2013 are modelled. Interactions among OPEC, non-OPEC oil production, global oil consumption, and the real price of crude oil are estimated using a Structural VAR model (SVAR). After providing evidence for the structural breaks in oil price in 1996, the results indicate that, according to variance decomposition analysis, during the two periods of 1996-1973 and 2013-1997, OPEC oil production responded significantly to positive shocks of global oil consumption and non-OPEC oil production responded significantly to shocks of OPEC oil production. During the OPEC era (1973-1996), real oil price responded significantly to positive shocks of OPEC oil production and during the new industrial age (1997-2013) responded significantly to positive shocks of global oil consumption. According to historical decomposition, the cumulative effects of structural shocks of non-OPEC oil production and price on OPEC oil production are greater than the cumulative effects of structural shocks of OPEC oil production and real oil price on non-OPEC oil production .Also, cumulative effects of structural shocks of OPEC oil production on real oil price are greater than cumulative effect of structural shocks of non-OPEC oil production on real oil price.
https://ier.ut.ac.ir/article_62938_a7af1fd4d03e887128764bf9af7b96bf.pdf
2017-09-01
519
541
10.22059/ier.2017.62938
Keywords: OPEC Oil Production
Non-OPEC Oil Production
Global Oil Consumption
Oil Price. JEL Classification: Q43
E32
E31
Somayeh
Azami
1
Department of Economics, Faculty of Social Science and Education, Razi University, Kermanshah, Iran
LEAD_AUTHOR
Shahram
Fattahi
sh_fatahi@yahoo.com
2
Department of Economics, Faculty of Social Science and Education, Razi University, Kermanshah, Iran
AUTHOR
Mehdi
Rezaei
3
Department of Economics, Faculty of Social Science and Education, Razi University, Kermanshah, Iran
AUTHOR
References
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37
ORIGINAL_ARTICLE
The Effects of Foreign Trade, Energy Consumption and Human Capital on GDP in Several Candidate Developed Countries and Developing Countries
Abstract T his paper attempted to examine the effects of foreign trade, energy consumption, human capital and physical capital on GDP in 8 candidate developing countries and 8 candidate developed countries during 2002-2014.In this study, the effects of variables were estimated through panel cointegration technique and dynamic ordinary least squares (DOLS).The results of regression test indicated that all variables had significantly positive effects on the production process. Further details about the results were obtained by evaluating foreign trade in general (exports and imports combined), in addition to separately evaluating export and import, where there were significantly positive correlations evident over the period. In the candidate developed countries, the role of exports was more prominent than imports and total trade. In the candidate developing countries, the role of imports was more prominent than exports and total trade.
https://ier.ut.ac.ir/article_62939_defbf7d0a240654ebfd50ad3e39d3221.pdf
2017-09-01
543
566
10.22059/ier.2017.62939
Keywords: Foreign Trade
Energy consumption
GDP
Panel Cointegration. JEL Classification: C33
D2
Q43
F10
Vida
Varahrami
1
Factuality of Economics, Shahid Beheshti University, Tehran, Iran
AUTHOR
Maryam
Sarfaraz
2
Tabriz Branch, Islamic Azad University, Tabriz, Iran
LEAD_AUTHOR
References
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Aleomran, R., & Aleomran, A. (2012). Impact Assessment Human Capital Promotion on Economic Growth of Selected OPEC Countries. Professional Magazine of Parks and Development Centers, 32, 41-53.
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Damankeshide, M., Abbasi, A., Arabi, H., & Ahmadi, H. (2013). Studding Relations of Energy Consumption and Economic Growth in Selected Countries of Iran’s Twenty Outlooks. Macro Strategic
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13
Intermediate Imports on Economic Growth in Iran. Commercial
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Bulletin, 4, 31-53.
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---------- (2011). Trade and Energy Consumption in the Middle East. Energy Economics, 33, 739-749.
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43
ORIGINAL_ARTICLE
Testing Fiscal Reaction Function in Iran: An Application of Nonlinear Dickey-Fuller (NDF) Test
Abstract
T
his paper is to convince the usage of the nonlinear unit root tests when dealing with a nonlinear model. To do so, the stationary test for variables in a model titles “Fiscal Reaction Function in Iran” has been applied according to both the ordinary and the Nonlinear Dickey-Fuller (NDF) tests. Results show that while variables under investigation are stationary in a nonlinear form, augmented Dickey-Fuller test indicates tendency to fail and reject the null hypothesis of a unit root in the presence of nonlinear dynamics. Therefore based on the results of Nonlinear Dickey-Fuller (NDF), the paper estimates the fiscal reaction function (FRF) in Iran. The estimated nonlinear regression supports a threshold behavior of two regimes in applying the fiscal reaction. Finally, findings confirm that fiscal policy in Iran is countercyclical though not sensitive in order to react to accumulation of the government debt.
https://ier.ut.ac.ir/article_62940_ddb2fa415feb1e9868beaa80ad1dc866.pdf
2017-09-01
567
581
10.22059/ier.2017.62940
Keywords: Unit Root Test
Nonlinear Dickey-Fuller (NDF) Test
STR Model
Fiscal Reaction Function
Iran. JEL classification: C22
E32
H62
H63
Ahmad
Jafari Samimi
1
Department of Economics, University of Mazandaran, Mazandaran, Iran
LEAD_AUTHOR
Saeed
Karimi Petanlar
2
Department of Economics, University of Mazandaran, Mazandaran, Iran
AUTHOR
Jalal
Montazeri Shoorekchali
3
Department of Economics, University of Mazandaran, Mazandaran, Iran
AUTHOR
References
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Burger, P., Stuart, I., Jooste, C., & Cuevas, A. (2011). Fiscal Sustainability and the Fiscal Reaction Function for South Africa. IMF Working Paper, 11/69, Retrieved from
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https://www.imf.org/external/pubs/ft/wp/2011/wp1169.pdf.
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6
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---------- (2005b). Dickey-Fuller Type of Tests against Non-Linear Dynamic Models. SSE/EFI Working Paper Series in Economics and Finance, 580, Retrieved from
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---------- (2005c). Inference for Unit Roots in a Panel Smooth Transition Autoregressive Model Where the Time Dimension Is Fixed. SSE/EFI Working Paper Series in Economics and Finance, 581, Retrieved from
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29
ORIGINAL_ARTICLE
The Sustainable Development
Abstract This research has aimed to examine the feedback effects between economic growth and environmental degradation through health that is one of human capital elements and also the consequences of such these relationships on economic convergence process during the period 1990-2013 for 60 developing countries in framework of simultaneous equations model by using unbalanced panel data analysis. This requires analyzing the interrelationships between economic growth, health, and environmental degradation. The results show the positive direct feedback effects between economic growth and health status, also positive indirect and reverse direct feedback effects between economic growth and environmental degradation. Although economic growth increases environmental degradation, sustaining the convergence process of developing countries and reaching the environmental Kuznets curve to turning point of CO2 emission represent stronger indirect feedback effects between economic growth and environmental degradation than direct feedback effects.
https://ier.ut.ac.ir/article_62941_2bd2657561ce8d93295b5163c0ea5346.pdf
2017-09-01
583
601
10.22059/ier.2017.62941
Keywords:Economic Growth
Environmental Degradation
Health
convergence
Sustainability JEL Classification: I10
Q56
Zahra
Fotourehchi
1
Department of Economics, University of Mohaghegh Ardabili, Ardabil, Iran
LEAD_AUTHOR
References
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14
ORIGINAL_ARTICLE
Foreign Direct Investment and Economic Growth: Evidence from Iran and GCC
Abstract F DI can create employment and reduce poverty, increase the host country’s export capacity causing the developing country to increase its foreign exchange earnings. The aim of this study is to investigate whether FDI affect economic growth in GCC countries over the period 1980-2014 using ARDL approaches. The empirical results show that the FDI is one of the major drivers of economic growth in Iran and GCC countries. The result of bound test indicates that there is a long-run steady-state relationship between FDI and GDP in Iran and for individual country of GCC (Gulf Cooperation Council). Also results of Granger-causality test imply that a bidirectional causalities from FDI to real GDP growth in Qatar, Saudi Arabia and UAE; unidirectional causalities from FDI to real GDP growth rate in Iran and Bahrain and no causality between FDI and real GDP growth rate in Kuwait and Oman.
https://ier.ut.ac.ir/article_62942_e5d2fa327dee97bc84bff052c3e0ac0d.pdf
2017-09-01
601
620
10.22059/ier.2017.62942
Keywords: FDI
economic growth
ARDL
Iran
GCC. JEL Classification: C22
E21
F21
Fateh
Habibi
1
Department of Economics, University of Kurdistan, Kurdistan, Iran
LEAD_AUTHOR
Mohammad
Sharif Karimi
2
Department of Economics, Razi University, Kermanshah, Iran
AUTHOR
References
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Zhang, K. H. (2001). Does Foreign Direct Investment Promote Economic Growth: Evidence from East Asia and Latin America. Contemporary Economic Policy, 19, 175-185.
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45
ORIGINAL_ARTICLE
Prioritizing Target Markets for the Export of Iran Construction Services
Abstract T ire cent decades, the internationalization of trade and companies' engagement in the global market has been found with a double significance. Planning and investment to increase the share of non-oil exports in total exports and reform its combination to export of goods and services with higher technology are of approaches of vision plan that export of Construction Services is of its characteristics. Construction Services which are one of the major fundamentals in economic development of countries encompass a series of methods and tools that provide the possibility to supply goods and services within community by optimal use of resources and manufacturing agents including capital, raw materials and manpower. This study has aimed to rank export target market of Construction Services. For this, by applying Walvoord's target market selection model, the indicator affecting market selection using questionnaire have been determined, that 14 indicators have been selected, and weight of indicators have been calculated by incremental power method, and then the countries which have imported Construction Services from Iran in recent seven years have been prioritized by resolving linear assignment problem using software Gomez, of which Lebanon, Iraq, Azerbaijan, Belarus, Tajikistan and Kazakhstan have been recognized as the superior countries.
https://ier.ut.ac.ir/article_62943_47f423ac47b886690fef0073b5b00af4.pdf
2017-09-01
621
637
10.22059/ier.2017.62943
Keywords: Single Product
Construction Services
Prioritizing of Market
Export of Product
International Business. JEL Classification: P24
L74
D4
F31
F23
Mina
Mehrnoosh
1
Department of Management, Farabi Pardis, University of Tehran, Tehran, Iran
LEAD_AUTHOR
Fatemeh
Shamshiri
2
Department of Economics, Islamic Azad University, Tehran, Iran
AUTHOR
References
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Akhavi, A. (1996). GATT and the New Theories of International Trade. Tehran: Institute of Business Studies and Research.
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Doherty, A. M. (2009). Market and Partner Selection Processes in International Retail Franchising. Journal of Business Research, 62, 528-534.
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Fahimifar, J. (2003). Identify and Prioritize Clothing Export Target Markets of Iran. Tehran: Institute of Business Studies and Research.
5
Hosseini, M. H. (2008). Management of Exports and Imports (2nd Ed.). Tehran: PNU Publications.
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http://www.ivdon.ru/ru/magazine/archive/n3y2013/1778.
9
Ramezanian, M., & Esazadeh, A. (2012). Prioritizing Target Markets for the Export of Construction Services in Iran. Journal of Economics and Modern Trade, 20(30), 155-179.
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12
ORIGINAL_ARTICLE
Foreign Interest Rates and the Islamic Stock Market Integration between Indonesia and Malaysia
Abstract
T
his study aimed to examine the Islamic stock market integration between Indonesia and Malaysia, and the effect of foreign interest rates on both stock markets. This study used the monthly time series of Jakarta Islamic Index, Hijrah Syariah Index, and foreign interest rates within a period from August 2000 to January 2016. Result of cointegration test demonstrates that while there is a cointegration between Jakarta Islamic Index and Hijrah Shariah Index, no cointegration occurred between Jakarta Islamic Index, Hijrah Shariah Index, and foreign interest rates. Estimation result of the VAR model indicates that there is a long-run relationship between Jakarta Islamic Index and Hijrah Shariah Index, and that there is integration between Indonesian and Malaysian Islamic stock markets. Furthermore, estimation result of the VARX model reveals that foreign interest rates only affected Malaysian Islamic stock price index.
https://ier.ut.ac.ir/article_62944_9f85e0142222495202a65ae68712ecb6.pdf
2017-09-01
639
659
10.22059/ier.2017.62944
Keywords: Stock Market Integration
Foreign Interest Rate
VAR Model
VARX Model. JEL Classification: F33
F36
G150
E440
Pasrun
Adam
adampasrun@gmail.com
1
Department of Mathematics, Universitas Halu Oleo, Kendari, Indonesia
LEAD_AUTHOR
Ambo
Wonua Nusantara
2
Department of Economics, Universitas Halu Oleo, Kendari, Indonesia
AUTHOR
Abd
Azis Muthalib
3
Department of Economics, Universitas Halu Oleo, Kendari, Indonesia
AUTHOR
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47
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48
ORIGINAL_ARTICLE
Natural Resources, Institutions Quality, and Economic Growth; A Cross-Country Analysis
Abstract[1] Natural resources as a source of wealth can increase prosperity or impede economic growth. Empirical studies with different specifications and data are also mixed on whether natural resources are curse or blessing. In fact, the variety of model specifications, measurements, and samples in the empirical literature makes it difficult to generalize the results. In this study, a growth model including natural resources is developed to estimate the effect of natural resource dependency on economic growth, using different measures of natural resources and controlling for the quality of institutions in 149 countries during 1996-2010. The results show that natural resource abundance, proxied by per capita natural wealth, has a positive and significant effect on GDP growth. However, the impact of natural resource dependency on GDP growth depends on the type of natural resources and the quality of institutions. Fuel dependency, for example, can be considered a strong curse, as it has no effect on GDP growth, and agriculture and food dependency a weak curse, as it can increase GDP growth in the presence of good institutional qualities. Results also show that among different indexes used for institutional qualities, government effectiveness, regulatory quality, and rule of law are more effective in avoiding the negative effect of resource dependency. The thresholds above which different types of institutional qualities can turn a curse to a blessing are also estimated for different types of natural resource dependency. [1]. We would like to thank participants at the Departmental Seminar at the University of Saskatchewan in October 2013, the STM faculty seminar in November 2014, and the 7th International Interdisciplinary Social Science Conference, held in Barcelona, Spain, June 2012, for their helpful comments.
https://ier.ut.ac.ir/article_62945_61e5a3936b7ae935ee9a230dce0a0df6.pdf
2017-09-01
661
693
10.22059/ier.2017.62945
Keywords: Natural Resources
economic growth
Institutional Quality
Resource Dependency. JEL Classification: O01
O13
O57
Q39
Saeed
Moshiri
moshiri.s@usask.ca
1
STM College, University of Saskatchewan, Saskatoon, SK, Canada
LEAD_AUTHOR
Sara
Hayati
hayati.sara@mcgill.ca
2
Department of Economics, McGill University, Montreal, Canada
AUTHOR
References
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2
Acemoglu, D., & Robinson, J. (2010). The Role of Institutions in Growth and Development. Review of Economics and Institutions, 1(2), 1-33.
3
Aghion, P., & Howitt, P. (2009). The Economics of Growth. Massachusetts: The MIT Press. Alexeev, M., & Conrad, R. (2011). The Natural Resource Curse and Economic Transition. Economic Systems, 35(4), 445-461.
4
Arezki, R., & Ploeg, F. V. D. (2011). Do Natural Resources Depress Income Per Capita? Review of Development Economics, 15(3), 504-521.
5
Bhattacharyya, S., & Hodler, R. (2010). Natural Resources, Democracy and Corruption. European Economic Review, 54(4), 608-621
6
Boschini, A. D., Pettersson J, & Roine, J. (2007). Resource Curse or Not: A Question of Appropriability. Scandinavian Journal of Economics, 109(3), 593-617. Boyce, R. J., & Herbert Emery, J. C. (2011). Is A Negative Correlation Between Resource Abundance And Growth Sufficient Evidence That There Is A Resource Curse? Resource Policy, 36, 1-13. Brunnschweiler, C. N., & Bulte, E. H. (2006). The Resource Curse Revisited and Revised. CER-ETH - Center of Economic Research at ETH Zurich, Working Paper, Retrieved from www.cer.ethz.ch. Cavalcanti, T. V., Mohaddes, K., & Raissi, M. (2011). Growth, Development and Natural Resources: New Evidence Using a Heterogeneous Panel Analysis. The Quarterly Review of Economics and Finance, 51, 305-318.
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Dietz, S., Neumayer, E., & de Soysa, I. (2007). Corruption, the Resource Curse and Genuine Saving. Environment and Development Economics, 12(1), 33-53.
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Frankel, J. A. (2010). The Natural Resource Curse: A Survey. NBER Working Paper, 15836, Retrieved from http://www.nber.org.
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Hirschman, A. O. (1958). The Strategy of Economic Development. New Haven: Yale University Press. Hodler, R. (2006). The Curse of Natural Resources in Fractionalized Countries. European Economic Review, 50(6), 1367-86.
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21
Mehlum, H., Moene, K., & Torvik, R. (2006). Institutions and the Resource Curse. Economic Journal, 116(508), 1-20.
22
Moshiri, S. (2015). Asymmetric Effects of Oil Price Shocks in Oil-Exporting Countries; The Role of Institutions. The OPEC Energy Review, 39(2), 222-246.
23
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24
Nomman, A. M., Maas, S., & Schmitz, P. M. (2010). Analyzing Agricultural Productivity Growth in a Framework of Institutional Quality. Retrieved from http://purl.umn.edu/90793.
25
Polterovich, V., Popov, V., & Toni’s, A. (2010). Resource Abundance: A Curse or Blessing? DESA Working Paper, Retrieved from
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http://www.un.org/esa/desa/papers/2010/wp93_2010.pdf. Ross, M. (2001). Does Oil Hinder Democracy? World Politics, 53(3), 325-361.
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28
---------- (1997). Sources of Slow Growth in African Economies. Journal of African Economies, 6(3), 335-376.
29
---------- (1995). Natural Resource Abundance and Economic Growth. In G. Meier, & J. Rauch (Eds.), Leading Issues in Economic Development. New York: Oxford University Press.
30
Sala-I-Martin, X., & Subramanian, A. (2003). Addressing the Natural Resource Curse: An Illustration from Nigeria. IMF Working Paper, Retrieved from
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https://repositori.upf.edu/bitstream/handle/10230/344/685.pdf?sequence=1&isAllowed=y.
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33
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34
ORIGINAL_ARTICLE
Health Financing: Does Governance Quality Matter?
Abstract
T
his paper contributes to the existing literature by examining the determinants of health financing in 177 developed and developing countries. The study introduces the variables of government effectiveness and control of corruption to capture the impact of governance quality on different mechanisms of health financing. Utilisng panel data analysis, namely system-GMM estimators, to obtain unbiased estimates, the results indicate that public and private health financing do not follow the same pattern. In addition, the GDP per capita and total government expenditure is crucial factors that affect health financing in both developed and developing countries. External aid tends to reduce public health financing, especially when it is received by a country with low governance quality. Interestingly, a high level of government effectiveness and control of corruption are found to be very influential in stimulating public health financing and helping to reduce private health financing in developed countries. However, the low amounts of health financing in developing countries are attributable to the low quality of governance, which increases out-of-pocket health financing.
https://ier.ut.ac.ir/article_62946_d0bad418076defcbf939ba1dd97d2c19.pdf
2017-09-01
693
723
10.22059/ier.2017.62946
Keywords: Health Care
Health Financing
Governance Quality
System-GMM. JEL Classification: I100
H51
O430
C2
Abdalla
Sirag
siraga87@gmail.com
1
Department of Economics, University of Medical Sciences and Technology, Khartoum, Sudan
LEAD_AUTHOR
Norashidah
Mohamed Nor
norashidah@upm.edu.my
2
Department of Economics, Universiti Putra Malaysia, Selangor, Malaysia
AUTHOR
Nik Mustapha
Raja Abdullah
nmra@upm.edu.my
3
Department of Economics, Universiti Putra Malaysia, Selangor, Malaysia
AUTHOR
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