فهرست مطالب hossein asgharpour

According to the economic literature, the exchange rate is one of the important channels of money transfer, so that changes in the exchange rate play an important role in creating the competitiveness and uncertainty of the economy. This can put monetary policy changes on inflation and production growth under different conditions in different conditions. In this regard, this article has investigated the role of exchange rate in the effect of money on inflation and gross domestic product growth by using the seasonal time series data of 1370-1400 and using the time-varying auto-correlation parameter method (TVP-VAR). The results of this study show that the lower the variance of the exchange rate growth, the more effective the monetary policy is in curbing inflation. On the other hand, if the average growth of the exchange rate is close to the growth of the monetary base, then the monetary policy will increase production. Also, if the exchange rate grows more than the monetary base, inflation increases and GDP growth decreases. The results of this research confirm that the growth of the monetary base more than the economic capacity leads to an increase in inflation and a decrease in production growth, and this inflationary process leads to an increase in the exchange rate. In such a structure of the economy, where high money printing is a prominent feature, the suppression of the exchange rate provides the basis for increasing the currency jump, and the currency jump is an important factor in strengthening the recessionary inflation in the economy. Therefore, the policy recommendation of the present study is to reduce the growth of the monetary base and not to manipulate the exchange rate

In fact, the press changes with the change of events, and it is the voice that addresses public opinion. Its only weapon is language, in prose or poetry, in order to convey what is in its cover to the people. Since its spread in the Arab countries, we have seen its impact on contemporary Arabic literature, especially in Egypt. In the sense that it led traditional literature from some restrictions in its literary formulation, weight and rhymes to liberation and renewal, whether in its structure or in its topics. This is represented in the complete works of Mustafa Lotfi Al-Manfaluti, Muhammad Abdul Qadir Al-Mazni, Taha Hussein and Tawfiq Al-Hakim. The research seeks to address the extent of influence and vulnerability between journalism and literature, especially Egyptian prose, depending on the analytical descriptive approach. Among the findings of the research is the detection of shifting issues in the literary style, reviewing the role of newspapers in literature and its status. Also, among its other facts is that the literary subject has played an important role in the reach of journalists, in addition to the classical language used in writing literature in the books of those whose names were mentioned above.

Controlling inflation and economic growth is one of the most important economic goals that governments seek to achieve through tools such as monetary policy. To achieve their policy goals, monetary policymakers need to have a careful assessment of the effectiveness of monetary policy in the short and long term. The purpose of this study is to investigate the effect of asymmetric shocks of monetary policy on inflation and real output variables in the period 1994:1-2016: 4 using the NARDL technique. The results of the study showed that only positive liquidity shock has a positive and significant effect on GDP and its negative shock has no significant effect on GDP in the long run. Also, according to the results, in the short run, positive and negative liquidity shocks do not have a significant effect on production, but short-term positive liquidity shocks after a break have a positive effect on GDP. Accordingly, the asymmetric effects of positive and negative monetary policies on economic growth are accepted. ....

Considering the limited available resources, in the field of regional economy, knowing the characteristics and economic advantages of each region provides the possibility of better planning in order to achieve development goals. Therefore, this study aimed to analyze the comparative advantage of different economic sectors in Guilān province in 2014, 2016 and 2018, analyze the competitive advantage of sectors and determine the value added of sectors in Guilān province compared to the country during 2014-2016. For this purpose, the basic economy model and spatial coefficient index and shift share model were used. The results of the study showed that Guilān province in 2016 and 2018 has a relarive advantage in the agricultural sector and is in the field of economic activity and has a potential advantage for economic growth. Sectors related to agriculture, construction, wholesale, retail, vehicle and goods repair, food and shelter service activities, administrative and support services, public affairs and municipal services, and education have a competitive advantage and have undergone an upward trend in the years under study. The results of the share change model show that in the sector related to agriculture and service activities related to financial and insurance activities, Guilan province has the best performance in the country, but in the sector related to professional and scientific activities, the country has a better performance than Guilān province.

The main purpose of this study is to identify the determinants of banking crisis loss, the variables of policy framework especially, for 12 sample countries over the period 1980-2019. Accordingly, we extracted pre-crisis and post-crisis trends from countries' real GDPs and then calculated output loss for the crisis year and three years afterwards. In the following, we used the Poisson quasi-maximum likelihood (PPML) method to estimate basic model and model by considering the variables related to the policy framework. Our findings of basic model show the variables of real per capita GDP, inflation, bank credit to GDP ratio, have a significant positive effect and variables of financial openness and discretionary government spending have a significant negative effect on output loss related to banking crisis. Also, our analysis of different models with the presence variables of fiscal rules, exchange rate regimes, central bank independence and conservatism reveals that using of more flexible policies instead of extremely restrictive policy frameworks, such as having a balanced budget, a soft peg regime (intermediate exchange regime) and a central bank with less degree of independence and conservatism, are suitable for managing and reducing output loss related to banking crisis.

The purpose of this study is to Prediction the possibility of a banking crisis in a dynamic early warning system framework. We using data compiled from 10 middle-income countries for the period 1996-2017 and estimate static and dynamic logit model. The estimation results show that the dynamic logit model is better than the static model. We find that broad liquidity ratio, domestic credit to GDP ratio and stock market index are early warning signs of banking crisis. Also, the dynamic variable (lagged banking crisis) shows that if a banking crisis occurs in a year ago, there is a possibility of crisis in this year. Our result shows the possibility of continuation and persistence of banking crises for consecutive years. Then, the evaluation results of warning system show dynamic early warning system turns out to exhibit significantly better predictive abilities than the existing static one, both in- and out-of-sample.

In the present study, in the first stage, using Gerton and Roper (1977) model, the central bank policy intervention index and foreign exchange market pressure were calculated. Then, using the STAR regression model, the nonlinear effects of financial risks with policy intervention of the central bank and the pressure of the foreign exchange market on the country's banking stability are examined. According to the results of Gerton and Roper models; In 26 of the 33 years surveyed, the country's economy has faced increasing pressure from the foreign exchange market. Also, the average degree of central bank intervention is 0.79. In other words, in the period between 1986 and 1397, 79% of the central bank intervention policy was inconsistent. The results of STAR model estimation with the central bank intervention as a transition variable show that the threshold value of the transition variable is 6.55 and with the central bank intervention exceeding this threshold, the reaction of monetary officials to increase this variable has increased sharply. As the central bank's intervention has increased, policymakers have tried to control the growth of the exchange rate and prevent it from rising by reacting more. Therefore, when the exchange rate experiences higher growth, policymakers are more in control of the exchange rate and pay less attention to its deviations, which increases the liquidity and credit risk of banks and leads to a decrease in the country's banking stability. According to the estimation results, the variables of capital adequacy and economic growth have a positive effect and central bank intervention, liquidity risk, credit risk and inflation rate also have a negative effect on bank stability. The negative coefficient of the intervention index indicate that the central bank, in the face of increasing positive exchange rate deviations, is pursuing a decline in the growth of its foreign reserves. Therefore, expansionary monetary policies need to be adjusted for the stabilization or non-stabilization of the exchange rate. Also, the high risk of banking activities and the transfer of this risk to other monetary and financial sectors of the economy, leads to increased costs and complexity of the process of receiving facilities, imposing this cost on other facilities and reducing the ability to provide credit, diversion and failure to meet facility objectives. Banking income instability, which requires more attention to financial and banking indicators.

Regarding technological and economic requirements of today's world, public education systems need to take more responsibility for paying enough attention to educational planning and programs. Learners face many economic problems in their daily lives; therefore, economic education can help them to develop their economic thinking. Accordingly, it is the responsibility of educational and cultural institutions of countries not only to teach such basic and essential skills as reading and writing, mathematics, literature, and history to individuals, but also to pay attention to economic education and economic education programs because such programs can lead to the realization of desirable behaviors in individuals' lives and promote social interactions between them. Considering this, the objective of the present study was to design a framework for economic education in the Social Studies curriculum of Farhangian University. In line with this, this descriptive study, which was of an applied type, benefitted from a qualirtatuive approach to research and and a meta-synthesis method. Accordingly, the study was an attempt to analyze the research it covers and to resolve the contradictions in its literature. While integrating the results, the study also identified some relevant topics for future research. The following seven steps were taken in conducting this study: identifying first-hand sources based on the relevant keywords; identifying and categorizing concepts, and reviewing and conceptually analysing key elements; identifying information clusters for the desired pattern based on conceptual analysis patterns; putting together information within each category; repeating analysis cycles, until the categories were validated and the final statement was obtained; arranging categories for the desired application; and interpreting synthetic content. The findings of this study revealed that the framework for economic education in the Social Studies Curriculum consisted of ten elements, as proposed by Aker, of logic (achieving the goals of social studies and cultivating critical thinking), purpose (developing economic attitudes, knowledge, and skills), content (focusing on basic concepts of economics), learning and teaching methods (using active learning and teaching methods), resources and educational materials (using various educational resources), teacher role (guiding learners and facilitating learning), grouping (increasing learning through small groups), time (having flexibility in teaching time), place (focusing on learning environments both inside and outside the classroom), and evaluation (using various evaluation methods). A program which encompasses these element is an inclusive and community-oriented program which can lead to achievement of the goals established by the curriculum, development of students' critical thinking, conscious analysis of texts, students' application of concepts in real life and increased understanding of economic issues, and saving of time and educational resources. As the results of this study revealed, all ten elements of Acker were considered in the design of the relevant curriculum framework. This can indicate the comprehensiveness of the developed framework. As education policy makers believe, the training courses should involve economic education because it can provide the learners with the opportunity for improving their economic skills, attitudes, and behaviors. Overall, curriculum planners should pay more attention to economic education in targeting, organizing, and designing textbook content.

The main purpose of this study is to estimate the probability of banking crisis using the second generation of early warning systems (logit models), for 13 selected high-middle income countries over the period of 1980-2016. In this regard, two types of logit models; binomial and multinomial, are estimated. The results of estimated binomial logit model show that three leading indicators of the crisis are broad liquidity ratio, stock price index and inflation, which are the main causes of crisis in the studied countries. These variables account for about 17 percent of the probability of a banking crisis. Then, to avoid post-crisis bias, the multinomial logit model is estimated. The empirical results confirm that above three leading indicators are warning. Also, among the above three variables, only stock price index variable with a probability of 12.68%, causes the economy to exit the banking crisis and change its situation from the crisis/recovery period to the tranquil period. The multinomial logit model exhibit significantly better in-sample predictive abilities than the binomial logit model.

One of the issues raised about crises is dating them. If the date of crises are determined, future problems can be reduced by adopting appropriate policies. Banking crises are not an exception to this rule as one types of financial crises. Hence, in the present study, the dates of the banking crisis were determined by calculating the modified money market pressure index for low middle-income and high middle-income countries over the period of 1980-2019. Then, obtained dates were compared with dates of Laeven and Valencia (2020) by calculating the Kappa coefficient. The results of this comparison show a matching of about 10 percent for low middle-income countries and about 30 percent for high middle-income countries between crisis dates of the present study and the study of Laeven and Valencia (2020). Also, the investigation of inflation and real GDP growth for the studied countries showed that inflation is a suitable leading indicator for early warning of banking crisis. The decline in real GDP growth in the post-crisis years was also cited as one of the problems of the banking crisis.

The aim of this study was to analyze the content of social studies textbooks in terms of emphasis on the components of economic education. The present study is descriptive and content analysis using Shannon entropy method. The statistical population includes all textbooks in the field of social studies of students and teachers of Farhangian University. The statistical sample includes textbooks of Islamic education, educational, specialized and specialized education in the field of social studies of students and teachers. The research tool was a researcher-made checklist of components of economic education based on the scientific foundations of economic education, the content validity of which was verified by 5 experts. Its reliability was obtained 0.686 using the re-implementation technique for the mentioned checklist. The results generally indicated that, in general, little attention was paid to the components of economic education in the content of social studies textbooks. The highest level of attention to the components of economic education is related to Islamic education textbooks, specialized textbooks and the lowest level of attention to the components is related to educational textbooks and specialized educational textbooks, respectively. The results also show that in total, textbooks in the field of social studies in terms of the amount of attention to the components of economic education in the elements of the curriculum 19% was allocated to the curriculum content element and 6.65% to the curriculum location element.

Increasing urbanization and population growth in cities introduce social, economic, and environmental challenges. Globally, these challenges have become a major driver for urban development in the 21st century, alongside the expansion of information and communication technology (ICT). Urban planning is now focused on applying a systematic approach to generate models which can be applied to 21st-century city development, addressing and overcoming the problems associated with increasing urbanization. The development of “smart cities” is an example of one such conceptual model. The combination of ICT with urban planning, forming the foundation of the theory underlying smart cities, reveals a new form of development and is an effective approach to achieve better urban management. The main purpose of this study is to investigate the current state of smart evolution in the metropolis of Tabriz. Firstly, the ICT infrastructure (ICT Development Index, ie IDI) was investigated. The results of this study show that East Azerbaijan province, particularly the metropolis of Tabriz with an IDI equal to 6.76 in 2020, was ranked 15th  in the country. Moreover, the value of this index and all three sub-indices in the last decade have been higher than the national average and have grown significantly. Secondly, using the subject literature, 74 indicators in six smart city dimensions: smart people, smart economy, smart environment, smart life, smart government, and smart mobility were compiled and, by means of questionnaires, analyzed using information and statistics in statistical yearbooks and Python software. The results reflect the degree of intelligence of this city on a macro-scale, with a score of 0.166 per unit. Furthermore, investigations into the status of the six dimensions indicate that the dimension of the smart environment with a score of 0.26 per unit, has the highest score among other dimensions, while smart governance (government) and smart life have the lowest score respectively with 0.116 and 0.126 scores.

It is important for economic policy makers to study and predict the sustainability of currency crisis effect on macroeconomic variables, especially GDP. In this regard, the main purpose of this paper is to examine the effect of currency crisis on GDP dynamics during 1970-2016. In this regard, the empirical model has been estimated using the theoretical basis of the research and GPS approach. According to the results, the negative effect of the currency crisis on GDP is confirmed in short run. Foreign capital inflow and short-term foreign debt are among the factors exacerbating the effect of currency crisis on GDP growth in short run. The rate of export growth and the changes in terms of trade are moderating effect of currency crisis on -GDP. Increasing the supply of national currency as well as increasing government spending and budget deficits are exacerbating effect of crisis. Rising interest rates also increase the negative effects of currency crisis on GDP

The exchange rate is one of the most important factors in determining the domestic price of imported goods. Iran's economy has always been affected by the exchange rate fluctuations, and thus the industry of sports goods, which is one of the most important cultural, social and welfare industries, is not excluded.

The present research is a theoretical and practical objective and is descriptive in terms of research methodology. The method for collecting statistics and information in this study is documentary and library. Data were analyzed using a panel data approach during 1993-2015 with the help of Eviews 9.

The results showed that there is a positive and significant relationship between the exchange rate and   the index of prices of imports of sports goods in Iran, and the rate of exchange rate passagein Iran and business partners is incomplete. GDP variables, final costs of business partners, commercial openness and inflationary environment have a positive and significant effect on the index of prices of imports of sports goods. The rate of exchange rate passagein the inflationary targeting system was 0.43 and in the anchor system, it was 0.41.

Inflationary targeting has increased the rate of exchange rate on the price of import of sporting goods.

In the Iranian economy, a part of the financial needs and liabilities of the government is always financed by the Central Bank. With an increase in the government debts to the Central Bank, monetary policy gets passive and implemented in line with fiscal policies. Consequently, the functions of the monetary policy are disrupted, and it deviates from its goals. This can have undesirable impacts on the macro-economy. So, this study aims at the macroeconomic effects of the government debts to the Central Bank in Iran during the period of 1973-2017. To this end, a SVAR model is used. The result of the research showed that the government debt to the Central Bank has had no significant effect on the ratio of aggregate demand to aggregate supply, real exchange rate and the relative price of non-tradable goods to tradable goods, but it has significantly increased the prices over a period of three years and decreased the GDP over two years. In the long run, the government debt to the Central Bank has explained 10.8 percent of variation in the general level of prices and 11.25 percent of variation in the GDP per person. These results indicate that the Fiscal Dominance and the Fiscal Theory of Price Level ‎can account for this situation in the Iranian economy.

The purpose of this study is to introduce a pre-crisis warning pattern in Iran during the years 1981-2016 using Logit and Markov switching approaches. This study use a combination of exchange rate changes, foreign reserves and bank profit to calculate the adjusted currency crisis index. In this regard, to investigate the factors affecting the probability of currency crisis was used to Logit approach and  to investigate the effect of early warning variables on the currency crisis the Markov switching approach was used. The results of the Logit approach indicate that the increase in the variables of the ratio of government deficit to GDP, current account deficit to GDP ratio and inflation rate had a positive effect on the probability of a currency crisis. On the other hand, an increase in GDP growth and oil prices has reduced the likelihood of a currency crisis. The results of the Markov Switching approach also show that variables of the ratio of government deficit to GDP, current account deficit to GDP ratio and inflation rate have increased the occurrence of currency crisis. Also, the increase in explanatory variables of oil price and GDP growth rate will reduce the occurrence of currency crisis.

In the past decades, the discussions between economists have changed of impact or no impact of monetary policy to effective monetary policy channels. Since, The housing sector has a large share in the household consumption basket, gross domestic product and wealth of the private sector, Then this sector play very decisive role in transfer transfer of monetary policy effects on production. Therefore, in this study, the asymmetric transmission of monetary policy has been evaluated through the housing price channel. For this porpuse were used the non-linear MSVAR technique and time series data of Iran's economy were used during the 1992 to 2017 seasons. The results of the research indicate that the effects of monetary policy on the economy have been asymmetric from the housing price channel. As in the years after 2008 (Regime 0). the share of the housing price channel in the transfer of monetary policy to production was less than regime1 (the years before 2008). Also, the effects of monetary policy have been more influenced by prices in regime 1. The results indicate that the share of housing prices in the production volatility in regime1 and in the short and long term is 56% and 50%, respectively, which is about 7% and 6% for regime 0. Hence, the housing price channel in regime 0is less important than regime1.

The exchange rate is one of the most important factors in determining the domestic price of imported goods. Iran's economy has always been affected by the exchange rate fluctuations, and thus the industry of sports goods, which is one of the most important cultural, social and welfare industries, is not excluded. The role and importance of foreign trade in the development process has always been an issue for economists. Import is one of the key sectors of international trade. The present research is a theoretical and applied research and is descriptive-analytic in terms of its method. The method of collecting statistics and information in this study is documentary and library. To determine the number of statistical population of the present study, at first, the share of goods in the 66 countries (according to the current statistics of Iran) was calculated for the period of 5 years (1389-1389). Then, based on the average trade share, the first 20 first countries The share of sport imports into Iran was selected as the sample, respectively, with the share of sporting imports: China 21.2, United Arab Emirates 0.44, Turkey 0.36, Germany 12.0, Japan 11/0 , Indonesian 109/0, Italy 107/0, Bulgaria 0.046, France 045/0, Austria 035/0, Korea 024/0, Hong Kong 02/0, Switzerland 01/0, Netherlands 01/0, Spain 008 / 0, India 007/0, Slovakia 006/0, Czech Republic 005/0, Singapore 0054/0 and England 0046/0 Explanatory variables of the research were collected from the Anctat website, the IMF, the World Trade Organization and the World Bank. For data analysis, the Eviews 9 software was used. The results showed that there is a positive and significant relationship between the exchange rate and the price index of imported sports goods in Iran, and the rate of exchange rate on the index of prices of sports goods of Iran and commercial partners is incomplete. The results also show that the fixed currency system has a positive and significant effect on the price index of imports of sporting goods. So that the rate of exchange rate exchange on the index of prices of imports of sporting goods in the fixed currency system was 0.43 and the floating exchange system was 0.41. Also, GDP, final cost of business partners and commercial openness have a positive and significant effect on the price index of imports of sporting goods. The fixed currency regime has increased the rate of exchange rate on the price of import of sporting goods. Therefore, it is recommended that the floating exchange rate regime be reduced by the degree of passage of the exchange rate.Since the degree of openness of the economy has had a positive and significant impact on the price index of imported sports goods, it is suggested that the country's economic policy makers move towards a resistance economy and the replacement of domestic commodities rather than foreign goods while increasing their trade volume and trade With trading partner countries, sporting goods in transitional work will help change the exchange rate on the price of imports of sporting goods. In other words, if the goal of the country's policy makers is to support the domestic products of sporting goods, it would be better to increase the import volume by increasing the volume of trade (the degree of openness), so that the demand for imported sports goods decreases and demand for indoor sports goods will increase. Also, in central bank policy, the exchange rate should be considered for sports goods if it is aimed at supporting domestic producers of sporting goods.

This paper uses dynamic panel data and generalized method of moments to investigate the direct and indirect effects of corruption on carbon dioxide emissions for the period 2003 to 2012 in developed and developing countries. The results of the estimation indicate that corruption has a negative direct effect on CO2 emission through undermining enforcement of environmental regulations and a positive indirect effect through its negative impact on per capita GDP in developed and developing countries.The total effect, depends on the income level of the countries. Our study confirms the existence of an inverted U-shaped Environmental Kuznets Curve between CO2 emissions and GDP for developed countries and a U-shaped relation for developing countries. In the case of other variables, the lag of the dependent variable, the degree of openness of the economy and the energy consumption in both groups have a positive effect on the relationship between CO2 emissions and GDP, while the share of renewable energy has a negative effect.
JEL Classification: D73، Q53، C33

Economic knowledge about the channels of monetary policy affecting the stock price index helps central banks to improve their assessment of economic conditions. Also, understanding the relative importance of transmission channels allows monetary authorities to foresee the outcomes of this mechanism, thus they can direct the monetary policy through the desired channel. In order to achieve this aim, a vector autoregressive model and seasonal data from 1997 to 2017 have been utilized. The results reveal that the monetary policy can influence the Tehran Stock Exchange price index, but it can not be taken as a determinant variable. The findings confirm that as a result of monetary base shocks, on average, exchange rate channel and asset price channel have the largest share in transferring monetary effects respectively, and credit channel has the least share in the stock price index.

The present study is designed to analyze the effects of monetary policy' shocks on the prices and supply of the housing sector in Iran. In doing so, a DSGE model including the households, housing sector, banks, firms, government and the central bank is used. Monetary policy is modeled according to the Taylor rule and the reaction of interest rate to inflation volatilities and relative house rent. In order to estimate the parameters of the model, Bayesian method was applied to the quarterly data for the time period between 1989 and 2016. After analyzing the estimation results using MCMC, Gelman–Brooks and prior–posterior distribution functions comparison, contractionary monetary policy' shocks has been analyzed in the form of increase in interest rate. The results show that an increase in interest rate will reduce the housing supply and price index by 3% and 2%, respectively. Moreover, housing sector responses to the policies will result in a reduction in consumption, production, inflation, exchange rate and real money balances variables.

Iran's economy has always been affected by exchange rate fluctuations, and this study has been designed to explain the relationship between exchange rate effects on the price index of sports goods the period of 1993-2015. The purpose and terms of theoretical and applied research method is analytical - descriptive. The collection of statistics in this study is documentary and library. Variable of index of prices of imports of sporting goods, along with the independent variables of gross domestic product, consumer price index, trade openness and final cost of business partners and nominal exchange rate, were introduced into the model. Statistics related to the explanatory variables Research were collected from the Central Bank of Iran, the International Monetary Fund and the Islamic Republic of Iran. For data analysis Was used the Eviews9 software .The empirical findings of the research showed that there is a positive and significant relationship between the exchange rate and the price index of imports of sporting goods in Iran. However, during the period under review, the rate of exchange rate effect on imports of sports goods was defective (0.76). The variable of final cost of the business partners and the degree of openness of the trade have a positive effect and significant on the price of imports of sporting goods, but the effect of the consumer price index is not significant. Therefore, increasing the volume of trade in goods in the transitional effects of exchange rate changes on import prices will help sporting goods.

One of the major problems in Iranian economy is continuous deficit in the budget operating balance due to the non-optimal government size. The government often financed a part of this deficit by debt cearation. Government debts depends on its size and decomposition have variety macroeconomic effects. So, this study investigated the macroeconomic effects of government debt in iran during 1352-1393 by a SVAR model. the result showed that government debt to Nondepository Institutions leads to aggregate demand surplus, increasing of relative price of nontradable goods to tradable goods and decreasing of gdp. The debt to central bank increase price level and decrease gdp. Finally, government debt to other Depository Institutions leads to aggregate demand surplus, increasing of real exchange rate, decreasing of relative price of nontradable goods to tradable goods, decreasing of general price level and increasing of gdp. Also, according to the results of variance decomposition, the government can control a significant part of short run and long run macroeconomic fluctuations by managing its debts

The government debt management policy is mainly based on capital market instruments. Under This ‎mechanism, frozen and unproductive resources used for countercyclical fiscal policies. Nevertheless, the ‎policy in Iran is mainly based on funds of the banking system and Nondepository Institutions, and capital ‎market is passively influenced by it. This could lead to inefficiencies in government debt management ‎policies as well as the volatility of the capital market. so, this study investigated direct and indirect effects ‎of various Iranian government debt on stock market by using SVAR during 2005:q2-2016:q2.‎
The results showed that effects of government debt on stock market are mostly indirectly and through ‎channel of economic variables. As real exchange rate, ratio of price of non-trade goods to trade and general ‎level of prices has a negative effect and an increase in GDP has a positive effect on real price of the shares. ‎These economic variables also significantly affected by government debts.‎‏ ‏Among types of government ‎debt, only government debt to Nondepository institutions has a direct and significant effect on real price of ‎shares. Based on these results, capital market is passively influenced by the government debt management, ‎while development of government financial instruments in framework of capital market leads to 1) ‎government to get flexible in itself debt managment and minimizes undesirable it’s outcomes, 2) it will ‎contribute to the development of the capital market,‎‏ ‏if the capital market capacity is considered at issuance ‎of government securities, and also government is disciplined in Settlement of securities.‎‏ ‏

The convergence of social welfare is one of the criteria for evaluating regional development policies. The purpose of this paper is to analyze the convergence of social welfare for evaluating regional development from 2000 to 2013. To this end, a nonlinear spatial error star econometrics technique is used to separate linear and nonlinear regimes.
According to the results, the provinces can be divided into two groups: in the first group of provinces, the social welfare growth is affected by the welfare of the regions themselves and spatial effects are not observed among them. In the second one, however, spatial effects are observed among the provinces, which include Qom, Isfahan, Khuzestan, Chaharmahal and Bakhtiari, Fars and Bushehr. Other provinces are in the first group. Moreover, the results show a convergence among the regions of the first group while there is no convergence among the second group. Therefore, Policies have failed to eliminate the regional inequalities and imbalances.
JEL Classifications: I31, C20, R12