جستجوی مقالات مرتبط با کلیدواژه « الگوی خودهمبسته با وقفه توزیعی (ardl) » در نشریات گروه « اقتصاد »

In Economic literature, different dimensions of financial development have been scrutinized. In this regard, what is important about bank-based financial systems is the distribution of loans and credits among different economic sectors. Actually, in non-competitive markets characterized by imperfect and incomplete information, any sort of distribution of credits and loans which is based on profit maximization for banks will not necessarily result in maximizing the collective interests of a country and it can even have adverse effects for the whole society. With regard to the issue described, this paper aims to study the role of distribution of credits and loans among different sectors on economic growth in Iran. To achieve this goal, we have used and analyzed time series data for the period 1984 to 2015 using Autoregressive Distributed Lag Model (ARDL). The findings of this paper show that the logarithmic coefficient of financial growth index (calculated as the ratio of total outstanding credits to GDP) is positive and significant in both short-term and long-term periods. This means that financial development plays a positive role in economic growth. On the other hand, the estimated coefficient for the ratio of loans allocated to production sectors to loans allocated to non-production sectors is also positive and significant in both short-term and long-term periods. This suggests that loans allocated to production sectors have a positive effect on economic growth. In fact, one can assert that although an increase in bank loans and credits (actually, the ratio of total outstanding loans and credits to GDP) has a positive effect on economic growth, the more these loans and credits are inclined towards production, the more the magnitude of economic growth being stimulated.

Raising saving, level removal of financial resource obstacles to investment and increase in productivity allare require the financial structure reform and banking system improvement. This study, investigate the impact of financial development composition Index on economic growth in Iran by use of composition approach, using time series data 1352-86, and econometric models with ARDL and ECM method, test and analysis Cobb-Douglas production function for Iran. The results show that economic growth doesnt react to financial development changes (in the short time and long run). It is necessary, to harmonize financial sector development in finance and money services sector with macro economic objectives, while adjusting economic policies to rising financial and money service sector efficiency.