Volume 21, Issue 4 (2021)                   QJER 2021, 21(4): 4-5 | Back to browse issues page

‎ 20.1001.1.17356768.1400.21.4.5.9

XML Persian Abstract Print

Download citation:
BibTeX | RIS | EndNote | Medlars | ProCite | Reference Manager | RefWorks
Send citation to:
Arab A, Sarlak A, Ghiasi M, Sharifnezhad M. Investigating the Impact of Financial Development and Financial Stability on Iran's Economic Growth Using the Generalized Method of Moments (GMM). QJER 2021; 21 (4) :4-5
URL: http://ecor.modares.ac.ir/article-18-51178-en.html
Investigating the Impact of Financial Development and Financial Stability on Iran's Economic Growth Using the Generalized Method of Moments (GMM)
Azadeh Arab1 , Ahmad Sarlak * 2, Mojtaba Ghiasi3 , Maryam Sharifnezhad4
1- Ph.D. Candidate in Economics, Department of Economics, Arak Branch, Islamic Azad University, Arak, Iran
2- Assistant Professor, Department of Economics, Arak Branch, Islamic Azad University, Arak, Iran , a-sarlak@iau-arak.ac.ir
3- Assistant Professor, Department of management, Malayer Branch, Islamic Azad University, Malayer, Iran
4- Assistant Professor, Department of Economics, Arak Branch, Islamic Azad University, Arak, Iran
Abstract:   (2836 Views)
Financial development and stability and their relationship with economic growth is one of the most important and influential issues in economic growth. Therefore, economists have studied this issue by exerting different conditions. The main purpose of this study is to evaluate the impact of financial development and financial stability on Iran's economic growth using the generalized method of moments (GMM) during 1992-2019. The results show positive and meaningful effects of financial development and financial stability on economic growth. The variables of lagged economic growth, education, fixed investment and trade liberalization have positive and significant effects on economic growth, while, inflation, government expenditure and active population have negative impacts on economic growth. Therefore, considering the important role of education, it is recommended to government to invest in this sector and upgrade the production structure, make the necessary structural reforms in the capital market and banking system, direct credit and liquidity to strengthen private sector production, as well as improve the level and composition of government spending in order to increase production efficiency.
Keywords: Financial Development, Financial Instability, Economic Growth, Generalized Method of Moments, Time Series
Full-Text [PDF 1240 kb]   (1583 Downloads)    
Article Type: Original Research | Subject: Economic Development and Growth
Received: 2021/03/27 | Accepted: 2021/06/10 | Published: 2021/11/16
Add your comments about this article : Your username or Email:
CAPTCHA
Send email to the article author

Rights and permissions
Creative Commons License This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.