فهرست مطالب

New Political Economy - Volume:3 Issue: 2, Summer-Autumn 2022

International Journal of New Political Economy
Volume:3 Issue: 2, Summer-Autumn 2022

  • تاریخ انتشار: 1401/09/02
  • تعداد عناوین: 12
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  • AliAkbar Gholizadeh, Motahareh Khaksar *, Afsaneh Ghasemi Pages 1-26

    The purpose of this study is to measure and analyze the effect of housing assets on private sector consumption using time series data in Iran for 1991-2021. This study analyzes the relationship in the form of a autoregressive distributed lag (ARDL) econometric model using Eviews software. The final trend for short- and long-term consumption of permanent income, housing and financial assets is also obtained. It is 0.55 and 0.69 for permanent income and 0.56 and 0.70 for housing, respectively. The error correction model shows the adjustment of short-term disequilibrium with a coefficient of 0.48, which is a reasonable relative adjustment rate. Another result of this study is the positive insignificant effect of financial assets on private consumption in Iran

    Keywords: Private Sector Consumption, Housing Assets, ARDL model
  • Forough Esmaeily Sadrabadi *, Esfandiar Jahangard Pages 27-50
    This article tries to examine intangible investment in different levels of Iranian industrial technology by using a comprehensive measure of intangible capital costs in Iran. Previous studies in the study of intangible capital on total factor productivity (TFP), show that intangible investment has a positive and significant effect on this variable in Iran's manufacturing industry with a four-digit ISIC code. Also among the components, Information and Communication Technology (ICT) has a more prominent role on the TFP variable. This study examines all the factors (which play a role in measuring intangible investment) on the growth of TFP at different levels of technology (which are divided into four categories).Unlike previous studies, for all industries, apart from technology levels, ICT is very effective and other components are ignored,the results of this study show that other factors affect intangible investment except ICT in high-tech and medium / high industries have higher impact on TFP than ICT and vice versa. It is also suggested to achieve the highest optimal level of TFP, by separating different levels of technology, to focus on components such as research and development, brand, educational services, etc. for high levels and ICT factor for low levels.
    Keywords: Intangible Capital, TFP, ICT, Level of Technology
  • Azim Nazari, Farshid Pourshahabi *, Majid Dashtban, Zohreh Asadi Pages 51-67
    In this study, we are surveyed the effect of trade liberalization on the inflation of eight precursor’s economy of East Asia during 1990-2016. The main purpose of this research is to test the Romer (1993) Hypothesis for aforementioned countries. He says that there is a negative relationship between inflation and trade openness. For testing this subject, we are used the Britong (2000) unit root test for panel data and, the kao (1999) co-integration test for panel data. Notice to existence of nonstationary variables in the estimated model, we need to use the Kao (1999) co-integration test, and as a result of this test, there is a long run relationship between the variables of the model. The results show that the Romer (1993) hypothesis is confirmed for these countries and free trade reducing the inflation in these countries. Also, the effect of income per capita is negative but the liquidity volume coefficient shows the positive effect of this variable on inflation in these set of countries. In consequence, trade liberalization policy can suggest as a policy to declining inflation in these set of countries.
    Keywords: Free Trade, Inflation, panel data, East Asia
  • Karim Azarbayejani, Leila Torki *, Mehrab Abdolahi Pages 69-99

    The D8 group pursues different goals, and one of the most important ones is in the field of economy and economic development of the member countries. The present study thoroughly assesses financial integration and its effective variants. Due to the relatively low physical capital interruption and the more intrinsic consumption fluctuations, developing economies benefit from financial integration. Four criteria have been used to assess the financial integration among the D8 group: foreign assets, foreign debts, volume criteria, and investment criteria. The data is based on Eviews software, and the least-squares method (EGLS) for 2000-2019 has been analyzed. The present study results confirm the effect of financial development and international trade integration on financial integration, and between the two, based on the estimated model coefficients, the impact of international trade integration on financial integration is more significant. Also, among the three criteria of financial development, the development of the banking sector is not a good measure of the financial development in countries and has less of an impact on D8 Group's financial integration.

    Keywords: Financial integration, Financial Development, International Trade, emerging markets
  • Leila Torki *, Narges Amani Pages 101-125

    Stock return demonstrates the efficiency of a firm in creating net interests for the shareholders in return for their investment in firm stocks and is influenced by various factors. The present study seeks to investigate the impact of Social Performance Reporting on stock returns considering the moderating role of financial constraints. The present study used data from firms listed in Tehran Stock Exchange selected through purposive sampling over 2012-2019. The present study is applied in terms of the research objective, and multiple regression has been used for data analysis. The Kaplan and Zingales (1997) model has been used to estimate financial constraints in this study, given the current practice in previous domestic and foreign research. Results indicated that Social Performance Reporting had a significant and positive influence on the stock returns of firms listed on the Tehran Stock Exchange. Besides, results demonstrated that financial constraint played a negative moderating role in the relationship between Social Performance Reporting and the stock returns of firms listed in the Tehran Stock Exchange.

    Keywords: financial constraint, sustainability reporting, stock return, social responsibility
  • Soroush Hashemi, MohammadMahdi Lotfi Heravi *, Friedrich Schneider Pages 127-157

    This study aims to estimate the size of the Iranian Shadow Economy (SE) using the multiple indicators multiple causes (MIMIC) approach, a variant of the structural equation modeling (SEM) approach. The application of the MIMIC approach allows for the consideration of established drivers of the SE as well as potential causes that might be of particular importance to the Iranian SE, namely inflation and the size of the construction sector in the economy, the latter of which is considered in this study for the first time. The significant determinants of the Iranian SE are found to be inflation, unemployment, trade openness, and the size of the construction sector. The SE is also found to be positively related to cash usage and negatively related to the labor force participation rate and the Iranian GDP. Using annual data for the 1979-2019 period, our empirical results show that after an initial surge in SE size during the Iran-Iraq war (1980-1988), the Iranian SE generally decreased, although fluctuations were also present. The average SE size during the entire studied period of 1979-2019 is found to be 31.83% of GDP.

    Keywords: Shadow Economy, Undocumented workers, Iran, MIMIC
  • Aras Miho *, Zahra Karimi, Alireza Fazlzadeh, Habib Aghajani Pages 159-180
    This study propose and test a new channel for the transmission of monetary policy, when monetary policy changes banks respond to the interest they charge on deposits and affects directly on the size of banks deposits and, thus, affects lending power of commercial banks. Given this issue in mind, this study examines the asymmetric effects of monetary policies on commercial banks deposits in Iraq. The study applied Unit root test, Nonlinear autoregressive distributed lag (NARDL) approach, Error correction model (ECM), Bound test and Wald test using monthly data spanning from Jan 2005 to Dec 2019. Policy Interest Rate (IR), Cash Reserve Requirement (RR), and Broad Money Supply (M2) were used to proxy the monetary policies. Bank Deposit (BD), were used as the proxy of the Iraqi commercial banks deposit. The findings of NARDL show a non-linear relationship between monetary policies and Banks deposit. Furthermore, the results of Bound test and ECM confirmed the existence of the long run and short run relation between monetary policies and commercial banks deposit in Iraq. Finally, the result of Wald test indicates that policy interest rate and reserve requirement has asymmetric effect on banks deposit, while money supply has symmetric effect. Hence, it is suggested that policy makers in Iraq should consider the positive and negative shocks of monetary policy as commercial banks respond asymmetrically to the monetary policy Instruments.
    Keywords: Banks, Monetary Policy, NARDL Approach
  • Abolfazl Rahimi * Pages 181-195
    Despite its vast natural resources of oil, gas and minerals (mining), dealing with the problem of poverty  and inequality  is a serious challenge for policy makers. This challenge becomes increasingly acute as the authorities succumb, inevitably, to pressures to liberalise the economy by implementing free market principles and similar reforms. The welfare system in the Islamic Republic of Iran is quite complex with various governmental, non-governmental and para-governmental welfare organizations operating side by side. The Subsidy Targetization Act was the biggest of its kind in the history of the Islamic Republic, and that it is bound to affect the well-being of a large proportion of the population, it is rather surprising that it was introduced in such haste and without thorough planning. An equivalence scale is a measure of the cost of living of a household of a given size and demographic composition relative to the cost of living of a reference household when both households attain the same level of utility or standard of living (Lewbel and Pendakur, 2006). The method of calculating the equivalence scale is based on the Engel curve which can be argued to be a specific, restricted, representation of the Marshallian demand curve where prices are held constant and demand varies with income. We have argued, as an example of application of this approach, that this approach provides a more efficient and equitable way of compensating the consumers for the impact of the removal of price subsidies.
    Keywords: household equivalence scale, welfare, Behavioral Economics
  • Homa Katouzian Pages 197-241

    Reza Shah and Mohammad Reza Shah Pahlavi, father and son, ruled Iran between 1926 and 1979. During their reign Iran saw all seasons, including modernisation, dictatorship, arbitrary rule, chaos, foreign invasion and revolution. It was also a period in which the Pahlavis’ nationalist ideology clashed with democratic ideals, communist aspirations and – ultimately – Islamist beliefs.  This article is an investigation in this regard.

    Keywords: Political Economy, Pahlavi Dynasty, Iran
  • Masoud Khodapanah *, Zahra Dehghan Shabani, Mahboubeh Shojaeian, MohammadHadi Akbarzadeh Pages 243-274

    However, urbanization can have positive effects on the labor force and economic growth in urban areas the unplanned and rapid pace of urbanization process can ultimately lead to unpleasant consequences including marginalization, unemployment, poverty, the emergence of slums and shanty towns and the prevalence of crime in urban areas. Therefore, the objective of this study was to investigate the spatial spillover effects of urbanization on crime in 30 Iranian provinces during the period from 2006 to 2015 using dynamic spatial panel data models. The results of the study revealed that urbanization had a positive and statistically significant impacts on crime per capita in Iranian provinces indicating an increase in urbanization enhances the crime level. In addition, unemployment rate, and human capital had significant and negative effects on crime in Iranian provinces, respectively. Finally, the crime per capita in a previous period exerted a significant positive effect on the current crime which stablished the dynamic nature of this phenomenon. Moreover, the results of the study demonstrated that increasing crime per capita in neighboring provinces could elevate the crime in a given province.

    Keywords: urbanization, crime, spatial System-GMM, Iranian provinces
  • Mansour Anbarmoo * Pages 275-299
    The living and social nature of women has always been questioned by traditional and modern political systems, forces and social currents, from both religious and secular sides. To explain this subject methodically, the problem of research can be made more comprehensible by formulating the concept of "Living Shi’ism", which is considered as a manifestation of collective unconsciousness and the context of political and social action. The main question of the article is what the role, weight and influence of Living Shi’ism ideas are in the processes of shaping women's political and social behaviors in contemporary Iranian history? Living Shi’ism in Iran is not entirely Shiite, but it borrowed concepts and received influences as a result of interaction and intellectual contact with intellectual currents and ideologies. Findings showed the process of political and social identification of Iranian women is influenced by a set of thinking styles and patterns based on Shiite teachings or alienation and borrowing from new intellectual currents making any socio-political status conditional on their acceptance and reform. Patterns such as modern Iranian woman, Shiite autocratic woman, left feminist woman, armed Mujahid woman, housewife with hijab, Religious Modern woman and the emergence of dual hijab /veil and woman with hijab /chaste woman are examples of empathy or women's encounter with Living Shi’ism in different periods of Iranian contemporary history. Hence social structures such as unveiling, forced hijab, the transformation of hijab from a religious to political matter, and the formation of foregoing currents are not sudden, but a gradual process of women's biological interaction with Iranian society.
    Keywords: Iranian Women, Stuart Hughes, Iran Contemporary History, women’s identity
  • Hassan Sadeghian *, Abbas Ali Rahbar, Yadollah Behjati Pages 301-330
    Over the past century, Turkey has experienced various and dissimilar governance methods, such as constitutional, single-party, multi-party, fiduciary, participatory liberalism, conservative liberalism, delegative and quasi-authoritarian, each of which has influenced democratization process in either positive or negative way (history). This issue raises numerous doubts about the why and how of the impact of governance method on democratization process (problem/ issue), a subject that has not received adequate attention by researchers (background) so far. The main question in this study involves the explanation and elaboration of such positive or negative effects (question). This is fulfilled via process tracing method, expression of the causal mechanism (mechanism finding), and the use of library and digital resources (methodology). Justice and Development Party, as the leading sovereignty of Turkey for the last two decades, has employed three governance methods of “conservative liberalism”, “delegative” and “quasi-authoritarian” with positive, positive-negative and negative impacts, respectively on democratization process. The main finding of this study, therefore, is that the type of governance method can act as either a barrier or a facilitator on the path to democratization process.
    Keywords: Democratization Process, Delegative Democracy, Quasi-authoritarian, Governmental Method, Turkey