Iranian Economic Review最新文献

The Role of Institutional Quality in the Impact of Oil Rents on Financial Development in Brazil and Norway 巴西和挪威的制度质量在石油租金对金融发展影响中的作用

Iranian Economic Review Pub Date : 2021-11-16 DOI: 10.22059/IER.2021.84449

Soheil Roudari, Hamid Jamshidi, Hamidreza Ghasemi, Davoud Ghoreshi

{"title":"The Role of Institutional Quality in the Impact of Oil Rents on Financial Development in Brazil and Norway","authors":"Soheil Roudari, Hamid Jamshidi, Hamidreza Ghasemi, Davoud Ghoreshi","doi":"10.22059/IER.2021.84449","DOIUrl":"https://doi.org/10.22059/IER.2021.84449","url":null,"abstract":"Present study investigates the effect of oil resource rent on financial development through the stock market. In this case, the analysis process has been accomplished in two different states: considering and ignoring the institutional quality index in oil resource rent at the values above and below the financial development threshold. The threshold structural vector autoregression (TSVAR) model has been employed to analyze the stock markets in Norway and Brazil from 1984 to 2019. In Brazil, by ignoring the institutional quality index, the resource curse hypothesis is confirmed at the values below the financial development threshold. If the institutional quality index increases, the positive oil rent shock leads to the increment of the financial development through the stock market. Therefore, the hypothesis of the resource curse is rejected in this country. In Norway, by ignoring the institutional quality, the resource curse hypothesis is confirmed at the values above the financial development threshold. If the institutional quality is considered in oil rent, a positive shock to oil rent reduces the financial development through the stock market in a short-term period. This situation increases the financial development through the stock market in a long-term period. As a result, an increase in the institutional quality contradicts the resource curse hypothesis at the values above the threshold level. In Norway, if the institutional quality in oil rent is considered, a positive shock to oil rent enhances financial development through the stock market at the values below the threshold.","PeriodicalId":38289,"journal":{"name":"Iranian Economic Review","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-11-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45233556","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Forecasting Gasoline Consumption in Iran using Deep Learning Approaches 使用深度学习方法预测伊朗的汽油消费量

Iranian Economic Review Pub Date : 2021-10-12 DOI: 10.22059/IER.2021.83902

Neda Bayat, M. Davoodi, A. Rezaei

{"title":"Forecasting Gasoline Consumption in Iran using Deep Learning Approaches","authors":"Neda Bayat, M. Davoodi, A. Rezaei","doi":"10.22059/IER.2021.83902","DOIUrl":"https://doi.org/10.22059/IER.2021.83902","url":null,"abstract":"Gasoline consumption is one of the challenging issues of energy management in Iran. The deficit of domestic production and the need for imports on one hand, and the impact of its consumption on macro-and micro-economic variables, on the other hand, cause gasoline consumption management has become more important. The more accurate, predicting the trend of gasoline consumption is the more successful consumption management will be. Since gasoline consumption is affected by several parameters and factors, so, forecasting its consumption with high accuracy is difficult. In this paper, one recursive competitive learning method and two deep learning methods are utilized to provide more accurate forecasting of gasoline consumption. Due to the impact of gasoline consumption patterns on the seasonal changes, climate and holidays, different periods are used for training the learning these approaches, and their efficiency is compared in terms of the standard error metrics. The comparison results show the deep learning approaches and the training patterns with 12 months result in more accurate predictions. Finally, using the best approach and obtained setting, the gasoline consumption in Iran is predicted for the next years, which shows that gasoline consumption will grow 22 percent by 2027.","PeriodicalId":38289,"journal":{"name":"Iranian Economic Review","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-10-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43178728","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Identifying the Moderating Role of Income Smoothing and Credit Quality towards Corporate Governance and Determinants 识别收入平滑和信贷质量对公司治理的调节作用及其决定因素

Iranian Economic Review Pub Date : 2021-10-12 DOI: 10.22059/IER.2021.83925

Damian Honey, Safia Nosheen, Saqib Farid

引用次数: 0

An Application of Quantile Regression on the Relationship between Economic Growth and the Quality of Environment in Selected African Countries 分位数回归在部分非洲国家经济增长与环境质量关系中的应用

Iranian Economic Review Pub Date : 2021-10-12 DOI: 10.22059/IER.2021.83900

A. Jakada, Suraya Mahmood

{"title":"An Application of Quantile Regression on the Relationship between Economic Growth and the Quality of Environment in Selected African Countries","authors":"A. Jakada, Suraya Mahmood","doi":"10.22059/IER.2021.83900","DOIUrl":"https://doi.org/10.22059/IER.2021.83900","url":null,"abstract":"This study examined the determinants factors of environmental quality by employing a panel quantile regression to incorporate the effects of economic growth on the quality of environment and ascertain the validity of EKC hypothesis within the research background of seven leading African economies over the period 1970 to 2019. The advantage of this method is considering the distributional heterogeneity to provide a detailed description of linkage between the CO2 emissions and driving factors at different emissions levels. The results show that the effects of determinants on CO2 emissions are heterogeneous. Besides, the quantile regression estimate describes the economic growth influence on CO2 emissions to be positive and higher at the 50th quantile than in other classes of quantiles. The square of economic growth tend to have insignificant effect on the 10th and 25th quantile but effect is negative and significant on the 50th , 75th and 90th quantile. This justify the presence of EKC hypothesis on the 50th, 75th and 90th quantile. The empirical results of the study reveal that the EKC hypothesis is supported in these leading African economies. Consequently, policymakers should centre on the heterogeneous effects of driving forces on CO2 emissions in different quantiles during the process of carbon emission reductions.","PeriodicalId":38289,"journal":{"name":"Iranian Economic Review","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-10-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45820529","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Common Pool Problem: South Pars-North Dome Gas Field 共同气藏问题:South Pars-North Dome气田

Iranian Economic Review Pub Date : 2021-10-12 DOI: 10.22059/IER.2021.83919

Jalal Dehnavi, Y. Egorov

{"title":"Common Pool Problem: South Pars-North Dome Gas Field","authors":"Jalal Dehnavi, Y. Egorov","doi":"10.22059/IER.2021.83919","DOIUrl":"https://doi.org/10.22059/IER.2021.83919","url":null,"abstract":"The aim of this paper is to investigate possible problems of efficiency arising from the joint exploitation of the common gas pool (South Pars - North Dome, the largest natural gas reservoir in the world) by Iran and Qatar. The problem is related to the difference between private incentives and common goals. In the case of non-renewable resources, a Pareto-optimal joint extraction path could exist, but it is unlikely to occur in reality. We studied the difference in incentives for an optimal exploitation path for Iran and Qatar and found that their joint behavior was likely suboptimal from the perspective of the optimal dynamics of gas resource exploitation. In part, this is related to the difference in wealth, and in part to the sanctions against Iran, which have so far not allowed Iran to participate freely in the world market. Considering that the cost of future gas extraction in Russia's northern fields is likely to increase, a delay in the optimal presence of Iranian gas on the world market may lead to a suboptimal sequence of exploitation of various gas fields, which would mean both problems for the profitability of investments in Russia and higher world prices for natural gas in the future.","PeriodicalId":38289,"journal":{"name":"Iranian Economic Review","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-10-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46124303","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Should the Loss-aversion Behavior be Significant for Central Bankers? Evidence from Behavioral Economics 对央行官员来说，规避损失的行为是否重要?来自行为经济学的证据

Iranian Economic Review Pub Date : 2021-10-12 DOI: 10.22059/IER.2021.83924

azadeh talebbeydokhti, A. Erfani

引用次数: 0

Interaction between Financial Cycles and Business Cycles in Iran: A Bayesian Approach 伊朗金融周期和商业周期的相互作用:贝叶斯方法

Iranian Economic Review Pub Date : 2021-10-12 DOI: 10.22059/IER.2021.83918

Farkhondeh Soleimani, M. S. Tash, G. Zamanian, R. Zamani

引用次数: 0

The Threshold and Asymmetric Effects of Financial Development on Economic Growth in BRICS Countries: Evidence from Panel Threshold-ARDL 金砖国家金融发展对经济增长的门槛与非对称效应——来自面板门槛ARDL的证据

Iranian Economic Review Pub Date : 2021-10-12 DOI: 10.22059/IER.2021.83921

M. Abdu, Selvasundaram Kumaravel, Sagathevan Sooriyan

引用次数: 0

A Study on the Efficiency of General Takaful Operators in Malaysia: Post Implementation of IFSA 2013 马来西亚一般回教考试经营者的效率研究:IFSA 2013实施后

Iranian Economic Review Pub Date : 2021-10-12 DOI: 10.22059/IER.2021.83926

Amirul Afif Muhamat, Mohd Faizal Basri, Muhammad Nizam Jaafar, Dhiya Natasya Aqila Mohd Azlan, N. Zamri

{"title":"A Study on the Efficiency of General Takaful Operators in Malaysia: Post Implementation of IFSA 2013","authors":"Amirul Afif Muhamat, Mohd Faizal Basri, Muhammad Nizam Jaafar, Dhiya Natasya Aqila Mohd Azlan, N. Zamri","doi":"10.22059/IER.2021.83926","DOIUrl":"https://doi.org/10.22059/IER.2021.83926","url":null,"abstract":"This study aims to measure the efficiency of the general Takaful operators in Malaysia with the selected inputs, labour cost and management fees. On the other hand, the output used is gross contribution. General Takaful operators are the institutions governed by the Islamic Financial Services Act 2013 (IFSA). IFSA 2013 is the key statute governing the Islamic finance sector, which replaced statutes such as the Islamic Banking Act 1983 and the Takaful Act 1984. Based on the annual data gathered from 2014 to 2018 (post implementation of IFSA 2013), the efficiency is analysed using Data Envelopment Analysis (DEA) on four selected institutions in the general Takaful business. DEA results show that Etiqa General Takaful Berhad, Syarikat Takaful Malaysia Am Berhad are considered as the most efficient. The rest of general takaful operators in the sample were deemed technical inefficient. The results also indicate that inefficient institutions including those with the lowest performance which are Takaful Ikhlas General Berhad and Zurich General Takaful Malaysia Berhad have inefficient management in resource utilisation. In conclusion, the findings have confirmed the market share theory and infer to the expense-preference behaviour on the part of the general Takaful operator. Perhaps, the general Takaful operators are posed with an expedient manner trying to satisfy their own benefits. In order to achieve full efficiency, any Takaful operators have to increase its market share segments by increasing its gross income and contribution through developing demand for general Takaful products and mostly on takaful product itself.","PeriodicalId":38289,"journal":{"name":"Iranian Economic Review","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-10-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46910578","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

The Relationship between Risk and Return Based on the Prospect Theory: Case Study of Selected Companies in Tehran Stock Exchange 基于前景理论的风险与收益关系——以德黑兰证券交易所上市公司为例

Iranian Economic Review Pub Date : 2021-10-12 DOI: 10.22059/IER.2021.83923

M. Moallemi, Mahboobeh Rahjoo

{"title":"The Relationship between Risk and Return Based on the Prospect Theory: Case Study of Selected Companies in Tehran Stock Exchange","authors":"M. Moallemi, Mahboobeh Rahjoo","doi":"10.22059/IER.2021.83923","DOIUrl":"https://doi.org/10.22059/IER.2021.83923","url":null,"abstract":"In most studies, examining the relationship between risk and return, based on the theory of expected utility, an investor has always been considered as a risk-averse person. While the prospect theory considers both risk aversion and investor risk-taking based on existing realities. The innovation of this paper is to consider the separation of risk-taking behavior from rational one of investors (risk aversion). In this paper, the relationship between risk and return based on the prospect theory for companies of four selected industries during 2001-2020 by panel data and panel quantile regression method has been investigated. Investors' behavior in the prospect theory is sensitive to the reference point. In this paper, the average return on industry assets is considered as a reference point. Hence, the selected companies were divided into two groups of companies with asset returns (ROA) above and below the industry average. The result showed that the investor's behavioral model changed relative to the reference point. Investors are risky below the reference point, contrary to traditional theories of utility. Of course, at returns above the reference point, investors will still be risk-averse. Comparing the results of estimation of two methods (panel data and panel quantile) shows that this situation is also true in different risk quantiles. So that, the sign of the relationship between risk and return at the high and low levels of the reference point is compatible with the theoretical foundations. Therefore, the behavior of investors in selected companies follows the prospect theory.","PeriodicalId":38289,"journal":{"name":"Iranian Economic Review","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-10-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45757140","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0