The Spillover Effects of the Financial Policy Shock of the Economic Poles of the World on the Export of Iranian Petrochemical Products

One of the most important issues for developing countries, especially Iran, is the export of petrochemical products, which has received a lot of attention after the oil sanctions in the country. Promotion of exports in developing countries is known as an important element for the development of exports and the efforts of developing countries to participate more in the world trade system. Considering the importance of the issue and since Iran's economy is always facing shocks in the world markets, in this article, the spillover effect of the financial policy shock of the economic poles of the world on the export of petrochemical products of Iran and its business partners was discussed with the global vector autoregression approach, in the form of quarterly data from 1995-2020. The results showed that the positive effect of the total spending of the US government increased the GDP and imports of this country and had spillover effects to other countries, including a decrease in imports and an increase in exports for America's trading partners. In relation to Iran, the spillover effects of the global financial policy pole shock through the influence of Iran's business partners, including China, have increased the country's petrochemical products exports. Also, according to the results of the bootstraps, the positive shock of the total real expenditure of the European Union and China has not had any effect on the export of petrochemical products