فصلنامه سیاستهای مالی و اقتصادی
سال دوم شماره 5 (بهار 1393)

In this paper، in order to achieve the roadmap for reforming the VAT law and its administrative procedures in Iran، executive components evaluation of the VAT system in 22 countries and its comparison with Iran have been studied. The results suggest that the VAT in Iran is a consumption one and based on the destination principle as in the selected countries. Registration criteria in most of the countries are annual turnover or annual taxable turnover، while in Iran، addition to these criteria، the nature of economic activities also is used. Moreover، VAT standard rate in almost all countries، except Austria، India، is a unit as in the Iran. In the countries without discounted rates in their tax structure، usually there is a wider range of exempted goods and services without credit، and this observed in Iran، Armenia and etc.

The present paper reviews the various forms of pegged exchange rate regimes and shows that these types of exchange arrangements are the most used ones in the world، especially in oil-exporting countries. Some of the most considerable advantages of this regime usage are controlling exchange rate fluctuations، restraining inflation، creating an anchor price for commodity trading and facilitating foreign investment. However، due to the increasing interconnectedness of global financial markets and globalization، the costs of pegged exchange rate regimes are ascending. So a lot of countries with such arrangements tend to use more floated regimes. However، transition from pegged to floating regimes in developing countries has its own risks which impose massive economic costs. From this point of view، some more flexible options like «pegging to a basket of currencies»، “pegging to a basket that includes the price of oil «and» managed floating regime «have been considered as intermediated options. The report also indicates that despite different currency regimes announced by the Central Bank of I. R. Iran over the last 35 years، there is always some fear of floating exchange rates and tendency to a pegging exchange rate regime، and gradual non-adjustment of nominal exchange rate in proportion with internal and international inflation ratio، coincides with its gradual increase in 10 years periods. Finally، the paper in addition to emphasize at providing managed floating exchange rate regime requirements such as targeting and controlling inflation، declares that independence of central bank and adjusting nominal exchange rate in proportion with internal and international inflation ratio، as the most appropriate options and suggests that» pegging to a basket that includes the price of oil «is certainly better than» managed floating regime«for Iran. But due to non-compliance with its obligations، Iran actually shows significant tendency to pegged exchange rate.

Monetary policies are the combination of policies which are implemented by central banks in order to control macroeconomic processes. These policies are used to control inflation، stimulate economic growth، employment and etc. These purposes are the same in majority of countries. But their priorities are different especially in Iran that they are more or less ambiguous. In this study we are going to study that what is an optimal comprehensive monetary policies in Iran. To do that، we need to develop a strategic framework in order to extract a roadmap for a national monetary behavior. We used a SWOT technique and results lead to an operational road map consisting short & long run policies and their related action plans.

Promoting non-oil exports is one of major and principal goals of economic development of Iran. Textile industry with its high financial turnover and its labor intensive technology is an ancient industry in the world that has been suitable to rely on for advancement of exportation. So، knowing about the textile demand and its elasticity in order to gain foreign exchange and economic growth seems to be a matter of great importance. So this paper uses seemingly unrelated regressions econometric method to estimate the almost ideal demand system model to determine the demand for the textile products export (in three groups of leather، wool and cotton and their products). This paper aims to obtain demand and elasticity of textile products for the period of 1992 to 2010; then it will test the hypothesis of structural stability of model''s coefficients for a predicted period (2011-2015) via simulation of model variables on basis of different decreasing price scenarios. Results show that decrease of prices lead to lack of structural stability in model coefficients and would change the long run expenditure shares of world''s demand in textile products exportation.

Planning in firms as a kind of resources planning in an enterprise at the macro level is of particular importance. Software packages used to manage resources are integrated sets of pre-designed and pre-built software that cover all business processes of the organization. Achieving maximum efficiency in the implementation of these software’s and their synchronization with organizational needs are very complex problems. From a general view compatibility of software’s input and output and its process control requires modeling and designing of a corporate planning system as a software package in the firm. In this paper، a system which can be useful for different economic planning agency is prepared and supported. This system has been used in of one of the companies of the Industrial Development and Renovation Organization of Iran. Using this system we could evaluate company’s past and present problems. The output of this system in the form of economic and financial ratios could be used to evaluate the policy of the firm and its balance sheet within the firm’s planning framework. This framework can then be used in the preparation of budgets and financial plan in the firm.

It seems، skilled workers migration from developing country have negative effects on their economy. Developing countries need their skilled workers to reach their developing goals. As shown in some studies، migrants reduced poverty in their origin countries through creation of positive feedback effects especially by sending remittance from developed countries. Therefore in order to evaluate the effect of brain drain on poverty of their countries، the panel data of 32 developing countries during 1991-2004 have been examined by a panel data regression model. The results showed that the effect of brain drain on poverty is not a significant one. The economic characteristics and behavior of individuals receiving remittances have important roles in the impact of brain drain on poverty in origin countries. In addition the amount of remittances is not enough to compensate the negative effects caused by the lack of skilled workers

The purpose of this paper is to examine the influence of the board of directors’ structure on earnings management for a panel of 480 observations from 2003 to 2010 in Firms Accepted in Tehran Stock Exchange. While the role of companies’ board of directors in earnings management has been examined in developed markets، particularly in USA and UK، understanding its effectiveness in emerging markets such as Iran is important due to differences of structure of business organizations across these markets. In this paper board size، board independence، and CEO-duality have been considered as the board of directors’ structure. Modified Jones Model (1995) has been used to determine the earnings management. Common effect model results indicate that the presence of positive relationship between CEO-duality and earnings management while we did not observe a statistically significant relationship between board size and board independence with earnings management. Furthermore، in this research، some control variables effects have been considered.

Reducing in the costs and increasing the confidence، the financial sector as a complement of the real economy، allocates the surplus funds of the economy to finance productive activities in order to encourage the economic growth. It is known that، there are different factors such as changes in the real exchange rate which have influence on the financial sector. This study investigates the effect of the real exchange rate changes on the financial instability، by using panel data technique based on data for 25 selected developing countries during 1995–2010. In this study، changes in the interest rates، changes in the interest rate spread، changes in the money and quasi money as a percentage of GDP and changes in the central bank assets to GDP ratio are used as indicators of the financial instability. The results show that real exchange rate changes، significantly، increase financial instability and the intensity of this effect in various geographical areas is different. Moreover، economic growth rate، inflation rate، size of the government and openness of the economy have been considered as control variables in this study.