فصلنامه سیاستهای مالی و اقتصادی
سال دهم شماره 38 (تابستان 1401)

The main purpose of this study is to investigate the relationship between economic complexity and competitiveness using panel data in a sample of 39 emerging countries from 2002 to 2018. The results of the causality test of Dmitresco and Horlin Granger (2012) show a two-way cause between economic complexity and competitiveness. This indicates that the higher complexity of the economy helps countries to improve their average level of competitiveness, and vice versa. At the same time, the results of the model estimation using the system generalized method of moments (GMM) estimators confirm that economic complexity is a determining factor in the competitiveness of countries. This shows that economic integration with the creation of new sectors and new products creates significant opportunities for new jobs, which in turn leads to greater competition and a more dynamic environment. At the same time, the impact of variables on GDP growth, good governance, real exchange rates, human capital, and R&D costs on the competition of countries is also positive. Therefore, in order to increase competitiveness and develop a knowledge-based economy, emerging countries need to consider policies to increase economic complexity along with other factors affecting competitiveness.

The main purpose of this article is to determine the threshold level of ownership structure and the relationship between institutional owners' shares and tax avoidance. To meet this end, the data of 110 firms over the periods of 1390-1399 in the Tehran security market were selected. Moreover, this study sought to investigate the hypotheses and relationship between the mentioned variables. So the panel smooth transition regression (PSTR) model was used. The results indicate that at different levels of institutional shareholders 'share, the linear relationship between variables is not confirmed, and increasing shareholders' share as a transfer variable to 27.54, the participation in tax avoidance increases but after this level, it decreases. Overall, the results of evaluating the relationship between ownership structure and tax avoidance confirmed that in Tehran Stock Exchange, the inverse U relationship between variables is confirmed; this means that before the threshold level, the effect of the ownership structure in tax avoidance has been incremental and subsequently decreasing. Therefore, monitoring of company size and share of institutional shareholders was recommended to determine the appropriate level of ownership structure, prevent the dominance of governmental managers and shareholders and reduce the conflict of interests of managers and shareholders.

The issue of housing prices and its sharp rise has always been one of the most challenging issues for households and the government. On the other hand, municipalities, especially large municipalities, consider urban development as one of their main missions. What effect this investment in infrastructure and development projects will have on housing prices is important not only at the local level but also at the national level. The effect of investments in urban development plans on housing prices in Tehran is the subject of this study. The main purpose of this study is to investigate the effect of investment in infrastructure and urban services on increasing housing prices in 22 districts of Tehran. In other words, this study seeks to answer the scientific question of how much the difference in changes in relative housing prices in the 22 districts of Tehran is affected by this factor. Method used in the research The hedonic method and the variables used are three groups of variables that affect the price of housing in the city, which include physical or intrinsic variables of housing, environmental variables of housing and space variable.Due to the existence of spatial self-correlation and the results of Moran 1 test, the hedonic model has been estimated using the space factor. The results show that the effect of environmental variables is more than intrinsic variables and the variable of the share of the road network of the total area of ​​neighborhoods has the greatest impact on the price of residential units in Tehran.

The theory of economic complexity has recently been developed by two groups of scientists at Harvard University and MIT. According to this theory, the productive capabilities accumulated in each country determine its structural changes and economic growth. The Economic Complexity Index is calculated annually for more than 120 countries to measure the volume of accumulated capabilities. In this research, for the first time, an index of economic complexity for the provinces of the country during the period 2000-2018 has been calculated. The results show that (a) the degree of economic complexity of all provinces of the country during the period under review has been negative. (B) Kohgiluyeh and Boyer-Ahmad provinces, Khuzestan, Ilam and Bushehr in most years had the lowest degree of complexity and in contrast to Qom, Tehran, Isfahan, Qazvin, Central and East Azerbaijan provinces in most years had the highest degree of economic complexity among the provinces. (C) Implementation of provincial and national industrial and commercial policies in order to develop the field of activities for manufacturing other non-metallic mineral products, manufacturing products from rubber and plastic, manufacturing metal fabric products other than machinery and equipment, manufacturing medical instruments, optical instruments, Precision instruments and watches, manufacture of machinery and equipment not elsewhere classified, manufacture of machinery and electrical appliances not elsewhere classified, manufacture of basic metals and manufacture of motor vehicles, trailers and semi-trailers maybe Help effectively increase the degree of economic complexity of a wide range of provinces.

Iran's economy has been facing the problem of inflation for more than half a century. According to empirical studies, various visible and invisible political, economic, cultural, etc. factors have been effective in increasing the inflation rate; Factors that sometimes cannot all be considered in one economic model. Therefore, it is not possible to comment with certainty on the extent to which some factors affect the inflation rate with conventional methods. Based on this argument, in order to use an appropriate method in this study, from the fuzzy approach to investigate the severity of the impact of economic sanctions imposed on Iran along with other variables affecting inflation, in the period after the Islamic Revolution (1978-2020), Used. The results show that severe economic sanctions against Iran with a strong fuzzy coefficient, have a positive and significant effect on inflation in Iran. Also, liquidity, people's adaptive expectations, budget deficit and exchange rate fluctuations, respectively, after the severe sanctions, have had the greatest impact on increasing inflation. The obtained fuzzy coefficients of oil revenues and economic growth (excluding oil) indicate the negative effect of these two variables on the inflation rate in Iran.

The provision of facilities plays an important role in the banking industry. The credit risk is increased by customers' requests, and using a method to manage this risk is essential. During recent years, the customers’ credit scoring has been emphasized by most banks because of the increasing volume of deferred and due date claims. The importance of this issue is compounded by the prevalence of the Covid-19 virus, which affected the economies of all countries, especially the incomes of non-governmental businesses. In this paper, at first the impact of the prevalence of the virus on possibility of paying customers' installments is studied based on McNemar's Test. Then, the real customers’ credit scoring is performed for the Mellat Bank branches in Yazd province, and the effect of the Covid-19 virus is investigated on the significance of different variables, using the Logit regression. In this study, a random sample of 1200 real customers have been selected from the customers that have received facilities from the Mellat Bank branches in Yazd province from 1396 to 1399. The samples are divided into two equal parts; before and after the outbreak of the virus. The data on 16 selected variables are collected for both good and bad loan applicants. The results show that the prevalence of the virus has a significant effect on customers' default, so that it has increased sharply. Also, during the virus outbreak, the customer’s job type, marital status, and spouse's monthly income significantly impacted on the customers’ default with coefficient 3.3, -1.73 and 1.47 respectively, but these variables were not significant before the outbreak. Before the outbreak, the effective variables on customers’ default were the number of loan installments, collateral, credit history, and average account balance with coefficient 3.03, 2.82, -2.73 and 2.39, while the job type, monthly income and collateral were more effective after the outbreak with coefficient 3.3, 3.09 and 2.8.

Merger is a strategic measure taken by financial institutions to improve managerial performance. In fact, banks are always seeking to consolidate their actions in the market to converge to the optimum level, achieving integration and enabling banks to reduce their costs and, consequently, improve efficiency at the allocation and productivity levels. Many countries have experience of mergers, but the situation of banking mergers in Iran does not have a definite result to be judged. Therefore, considering the importance of the subject, the purpose of this study is to investigate the efficiency and liquidity situation in the conditions before and after merging with a set of 32 banks in the period 2020-2005 with the approach of Berger and Bowman (2008) and two-stage data envelopment analysis. In this regard, seven scenarios (including 6 public-private mergers and the actual merger of Sepah Bank) were considered. The average liquidity creation index was obtained in the period before the merger and after the merger, the liquidity increased, which could be due to the increase in banks' capital. Also, the performance after the merger increases in 6 scenarios and only one scenario shows a decrease; therefore, while merger is one of the ways to improve the efficiency of banks, choosing the right partner is one of the important components of merger success.