Karim Emami - Academia.edu (original) (raw)

Papers by Karim Emami

Research paper thumbnail of The Effect of Exchange Rate Volatility on Employment in Iran

Research paper thumbnail of The Oil Shocks Effects on Economic Growth, Some Oil Importer and Exporter Countries

Research paper thumbnail of An Analysis of Economic Components of Social Capital Impact on Total Factor Productivity

Research paper thumbnail of New Insights into Development of an Environmental – Economic Model Based on a Composite Environmental Quality Index: A Comparative Analysis of Economic Growth and Environmental Quality Trend

Environmental Energy and Economic Research, Aug 1, 2021

In order to fill the research gap regarding the use of a comprehensive index that includes all di... more In order to fill the research gap regarding the use of a comprehensive index that includes all dimensions of environmental pollution, this study sought to develop a composite environmental quality index to tackle with the possible bias and remove the possible linearity in the experimental research model. Principal Component Analysis (PCA) and Artificial Neural Network (ANN) methods were used to obtain this composite index. This study used six environmental indicators from two groups of Organization of Petroleum Exporting Countries (OPEC) and Organization for Economic Cooperation and Development (OECD) during 2008-2019. According to the obtained error criteria related to the two methods, ANN method was used to calculate the weight of environmental indicators due to having the lowest error criteria and therefore reliable results. Finally, using this composite index, the trend of economic growth and environmental quality were analyzed graphically. The results showed that along with the upward trend of economic growth, the quality of environment follows a downward trend in OPEC countries and an upward trend in OECD countries. At the end of this paper, some limitations of study are presented, and some suggestions for future studies are provided as well.

Research paper thumbnail of Growth and Productivity; The Role of Budget Deficit in the MENA Selected Countries

Procedia. Economics and finance, 2016

Today, efficiency is considered as one of the most effective ways of increasing economic growth b... more Today, efficiency is considered as one of the most effective ways of increasing economic growth by many planners and economic policy makers in different countries; further, huge investments made in this regard. On the other hand, the issue of budget deficit was introduced in economic literature since 1980s. Within this decade, current budget deficit significantly increased in the USA. Emerging of this phenomenon prompted many economists to establish public sector as the macroeconomic unbalancing factor, on the contrary to Keynesy who regarded public sector as the balance factor, particularly in developing countries since developing countries deal with specific problems such as foreign debt, high inflation, difficulties of payment balances, exchange parallel markets as well as various external shocks. Therefore, this research tried to study the effect of growth, efficiency and government budget deficit in MENA selected countries within 2000-2013 by using the recommended static panel models. Results of the estimated relations for the first model in which government budget deficit is the dependent variable indicate positive effect of economic growth and inflation rate variables as well as the negative effect of labor productivity and government budget deficit. Moreover, the second model in which economic growth is the dependent variable demonstrates the positive effect of labor productivity index and economic growth. In addition, negative correlation of government budget deficit with economic growth is also maintained.

Research paper thumbnail of New insight into examining the role of financial development in economic growth effect on a composite environmental quality index

Environmental Science and Pollution Research, Jun 24, 2021

The inclusion of an index, which can be the representative of environmental quality from differen... more The inclusion of an index, which can be the representative of environmental quality from different aspects, seems to be of paramount significance. This issue is a major challenging one in the economic–environmental literature. This study investigates the role of financial development in economic growth effect on the composite environmental quality index (CEQI) in two groups of selected Organization of the Petroleum Exporting Countries (OPEC) and Organization for Economic Co-operation and Development (OECD) countries. In this regard, System Generalized Method of Moment (SYS-GMM) is applied to fit the research models. According to the findings, in the selected OPEC countries, financial development reinforces negative impacts of economic growth on environmental quality. In the selected OECD countries, economic growth has negative effect on the environmental quality and financial development weakens this effect. The effect of financial development on the CEQI is respectively negative and positive in OPEC and OECD countries. Moreover, in both groups of selected countries, energy consumption and economic growth have a negative impact on the CEQI; nonetheless, trade openness has a positive effect. Accordingly, some policy suggestions and new recommendations are presented for future studies, which would contribute to the better implementation of economic–environmental policies. Graphical abstract Graphical abstract

Research paper thumbnail of Investigating marginal effect of economic growth on environmental quality based on six environmental indicators: does financial development have a determinative role in strengthening or weakening this effect?

Environmental Science and Pollution Research, May 25, 2021

Given the complexity of the correlation of economic growth with financial development, and their ... more Given the complexity of the correlation of economic growth with financial development, and their interactive impacts on environmental quality, this study attempted to present new insights into indecisive outcomes from the contribution of financial development in determining the impressionability of environmental indicators under economic growth conditions. Previous studies only employed a single environmental indicator for analyzing the correlation between economic factors and environmental quality. However, six environmental indicators are adopted in this study to evaluate environmental quality and to reach major goals of this research. To this end, using 2-stage system generalized technique of moment estimator, the association of economic growth, energy consumption, financial development, environmental indicators, and trade openness is determined in selected OPEC countries for years 2010 to 2019. Findings indicated that accompanied by the effects of economic growth on any EFI, ANS, PN, and EPI variables, the financial development enhances such effect. This is while, the financial development would weaken the economic growth effect on the ESI variable. Regarding EVI, no significant association was observed. Regarding to ESI, EPI, and PN, trade openness applies a significantly positive impact on environmental quality; on the other hand, it has positive role in environmental degradation based on EFI and ANS. This is while, according to the EVI variable, trade openness has not meaningful impact on environmental status. Finally, energy use has significant and positive effects on environmental degradation in each of environmental indicators. However, this variable has not shown significant impact on EPI and ANS. Alternatively, findings indicated that financial development can be considered an important and key variable in improvement of the environmental quality due to the moderating role it plays relative to the negative economic growth effect on the environmental quality. At the end of this paper, some limitations are presented, and some suggestions for further studies are provided as well.

Research paper thumbnail of Investigating the Short- run and Long-run Causality Relationship between the Exchange Rate Regime and the Real Exchange Rate Misalignment in the OPEC Countries

فصلنامه سیاستهای مالی و اقتصادی, Mar 1, 2023

Research paper thumbnail of Estimating Output Gap and the Effects on Inflation Rate in Iran

Research paper thumbnail of Exchange Rate Pass Through and Export Price Index in Iran: 1369:1-1385:4

Research paper thumbnail of Comparative comparison of the effect of oil shock on macroeconomic variables in Iran and GCC countries

Quarterly Journal of Quantitative Economics, Jun 26, 2021

Research paper thumbnail of Is it Necessary for Iran to Increase the Share of ICT Sector in GDP?

Faslnāmah-i Pizhūhish/Nāmah-i Iqtisādī, 2018

Estimations and calculations show that the ICT market in Iran was around 320 billion IRRs in 2015... more Estimations and calculations show that the ICT market in Iran was around 320 billion IRRs in 2015, which is about 2.6% of gross domestic production (GPD). at the end of the sixth plan for social and economic development of Iran, it has been set that this amount should be increased to be more than 5% of GDP and to be about 1000 billion IRRs. The present study will answer the following two questions. 1- Is increasing the share of ICT sector in GDP necessary? 2- How much does the economic growth change with one percentage increase in share of ICT sector in GDP? To answer these two questions, contribution of ICT sector on economic growth in Iran is first calculated through two methods of actual and potential contribution and then compared with each other. The results show that average GDP growth in Iran is about 3.8% for the period of 1990-2015 and, based on growth accounting, the potential contribution of ICT on economic growth is about half a percent. Actual contribution of ICT sector...

Research paper thumbnail of The Effect of Monetary Policies on Performance of Banks: A Dynamic Stochastic General Equilibrium (DSGE) Approach

Faslnāmah-i Pizhūhish/Nāmah-i Iqtisādī, 2019

Banking system, as one of the most important parts of macroeconomy, plays a vital role in general... more Banking system, as one of the most important parts of macroeconomy, plays a vital role in general economic equilibrium and transition of economic shocks in the society. Because of that, it is of sensitive role in national economy. In addition to implementing dictated monetary policies of central banks, they as any economic business, pursue the goal of increasing their profitability. In this study, we use Dynamic Stochastic General Equilibrium (DSGE) and take into account five economic sectors, namely households, entrepreneurs, mediator banks, distributors and government, to study the reaction of banks to emergence of monetary shocks. For this purpose, the authors seek to make use of long-term macroeconomic parameters. The results of our model show that, upon emergence of a positive shock on interest rate, due to the decrease of request for loan and the amount of lent money, the rate of loaning and as a result, the profit of banks is reduced, and in the case of a positive oil shock, ...

Research paper thumbnail of A Study on Effects of Nuclear Energy Consumption Growth on Economic Growth in Multi Chosen Countries

Research paper thumbnail of New Insights into Development of an Environmental – Economic Model Based on a Composite Environmental Quality Index: A Comparative Analysis of Economic Growth and Environmental Quality Trend

In order to fill the research gap regarding the use of a comprehensive index that includes all di... more In order to fill the research gap regarding the use of a comprehensive index that includes all dimensions of environmental pollution, this study sought to develop a composite environmental quality index to tackle with the possible bias and remove the possible linearity in the experimental research model. Principal Component Analysis (PCA) and Artificial Neural Network (ANN) methods were used to obtain this composite index. This study used six environmental indicators from two groups of Organization of Petroleum Exporting Countries (OPEC) and Organization for Economic Co-operation and Development (OECD) during 2008-2019. According to the obtained error criteria related to the two methods, ANN method was used to calculate the weight of environmental indicators due to having the lowest error criteria and therefore reliable results. Finally, using this composite index, the trend of economic growth and environmental quality were analyzed graphically. The results showed that along with th...

Research paper thumbnail of The Dynamics of Economic Growth and Output Volatility

Research paper thumbnail of Predictability Test of Stock Market Price Index in Iran Investment Market and Comparing Linear and Nonlinear Models Predictability Potentials

Research paper thumbnail of New insight into examining the role of financial development in economic growth effect on a composite environmental quality index

Environmental Science and Pollution Research, 2021

The inclusion of an index, which can be the representative of environmental quality from differen... more The inclusion of an index, which can be the representative of environmental quality from different aspects, seems to be of paramount significance. This issue is a major challenging one in the economic–environmental literature. This study investigates the role of financial development in economic growth effect on the composite environmental quality index (CEQI) in two groups of selected Organization of the Petroleum Exporting Countries (OPEC) and Organization for Economic Co-operation and Development (OECD) countries. In this regard, System Generalized Method of Moment (SYS-GMM) is applied to fit the research models. According to the findings, in the selected OPEC countries, financial development reinforces negative impacts of economic growth on environmental quality. In the selected OECD countries, economic growth has negative effect on the environmental quality and financial development weakens this effect. The effect of financial development on the CEQI is respectively negative and positive in OPEC and OECD countries. Moreover, in both groups of selected countries, energy consumption and economic growth have a negative impact on the CEQI; nonetheless, trade openness has a positive effect. Accordingly, some policy suggestions and new recommendations are presented for future studies, which would contribute to the better implementation of economic–environmental policies. Graphical abstract Graphical abstract

Research paper thumbnail of Investigating marginal effect of economic growth on environmental quality based on six environmental indicators: does financial development have a determinative role in strengthening or weakening this effect?

Environmental Science and Pollution Research, 2021

Given the complexity of the correlation of economic growth with financial development, and their ... more Given the complexity of the correlation of economic growth with financial development, and their interactive impacts on environmental quality, this study attempted to present new insights into indecisive outcomes from the contribution of financial development in determining the impressionability of environmental indicators under economic growth conditions. Previous studies only employed a single environmental indicator for analyzing the correlation between economic factors and environmental quality. However, six environmental indicators are adopted in this study to evaluate environmental quality and to reach major goals of this research. To this end, using 2-stage system generalized technique of moment estimator, the association of economic growth, energy consumption, financial development, environmental indicators, and trade openness is determined in selected OPEC countries for years 2010 to 2019. Findings indicated that accompanied by the effects of economic growth on any EFI, ANS, PN, and EPI variables, the financial development enhances such effect. This is while, the financial development would weaken the economic growth effect on the ESI variable. Regarding EVI, no significant association was observed. Regarding to ESI, EPI, and PN, trade openness applies a significantly positive impact on environmental quality; on the other hand, it has positive role in environmental degradation based on EFI and ANS. This is while, according to the EVI variable, trade openness has not meaningful impact on environmental status. Finally, energy use has significant and positive effects on environmental degradation in each of environmental indicators. However, this variable has not shown significant impact on EPI and ANS. Alternatively, findings indicated that financial development can be considered an important and key variable in improvement of the environmental quality due to the moderating role it plays relative to the negative economic growth effect on the environmental quality. At the end of this paper, some limitations are presented, and some suggestions for further studies are provided as well.

Research paper thumbnail of Growth and Productivity; The Role of Budget Deficit in the MENA Selected Countries

Procedia Economics and Finance, 2016

Today, efficiency is considered as one of the most effective ways of increasing economic growth b... more Today, efficiency is considered as one of the most effective ways of increasing economic growth by many planners and economic policy makers in different countries; further, huge investments made in this regard. On the other hand, the issue of budget deficit was introduced in economic literature since 1980s. Within this decade, current budget deficit significantly increased in the USA. Emerging of this phenomenon prompted many economists to establish public sector as the macroeconomic unbalancing factor, on the contrary to Keynesy who regarded public sector as the balance factor, particularly in developing countries since developing countries deal with specific problems such as foreign debt, high inflation, difficulties of payment balances, exchange parallel markets as well as various external shocks. Therefore, this research tried to study the effect of growth, efficiency and government budget deficit in MENA selected countries within 2000-2013 by using the recommended static panel models. Results of the estimated relations for the first model in which government budget deficit is the dependent variable indicate positive effect of economic growth and inflation rate variables as well as the negative effect of labor productivity and government budget deficit. Moreover, the second model in which economic growth is the dependent variable demonstrates the positive effect of labor productivity index and economic growth. In addition, negative correlation of government budget deficit with economic growth is also maintained.

Research paper thumbnail of The Effect of Exchange Rate Volatility on Employment in Iran

Research paper thumbnail of The Oil Shocks Effects on Economic Growth, Some Oil Importer and Exporter Countries

Research paper thumbnail of An Analysis of Economic Components of Social Capital Impact on Total Factor Productivity

Research paper thumbnail of New Insights into Development of an Environmental – Economic Model Based on a Composite Environmental Quality Index: A Comparative Analysis of Economic Growth and Environmental Quality Trend

Environmental Energy and Economic Research, Aug 1, 2021

In order to fill the research gap regarding the use of a comprehensive index that includes all di... more In order to fill the research gap regarding the use of a comprehensive index that includes all dimensions of environmental pollution, this study sought to develop a composite environmental quality index to tackle with the possible bias and remove the possible linearity in the experimental research model. Principal Component Analysis (PCA) and Artificial Neural Network (ANN) methods were used to obtain this composite index. This study used six environmental indicators from two groups of Organization of Petroleum Exporting Countries (OPEC) and Organization for Economic Cooperation and Development (OECD) during 2008-2019. According to the obtained error criteria related to the two methods, ANN method was used to calculate the weight of environmental indicators due to having the lowest error criteria and therefore reliable results. Finally, using this composite index, the trend of economic growth and environmental quality were analyzed graphically. The results showed that along with the upward trend of economic growth, the quality of environment follows a downward trend in OPEC countries and an upward trend in OECD countries. At the end of this paper, some limitations of study are presented, and some suggestions for future studies are provided as well.

Research paper thumbnail of Growth and Productivity; The Role of Budget Deficit in the MENA Selected Countries

Procedia. Economics and finance, 2016

Today, efficiency is considered as one of the most effective ways of increasing economic growth b... more Today, efficiency is considered as one of the most effective ways of increasing economic growth by many planners and economic policy makers in different countries; further, huge investments made in this regard. On the other hand, the issue of budget deficit was introduced in economic literature since 1980s. Within this decade, current budget deficit significantly increased in the USA. Emerging of this phenomenon prompted many economists to establish public sector as the macroeconomic unbalancing factor, on the contrary to Keynesy who regarded public sector as the balance factor, particularly in developing countries since developing countries deal with specific problems such as foreign debt, high inflation, difficulties of payment balances, exchange parallel markets as well as various external shocks. Therefore, this research tried to study the effect of growth, efficiency and government budget deficit in MENA selected countries within 2000-2013 by using the recommended static panel models. Results of the estimated relations for the first model in which government budget deficit is the dependent variable indicate positive effect of economic growth and inflation rate variables as well as the negative effect of labor productivity and government budget deficit. Moreover, the second model in which economic growth is the dependent variable demonstrates the positive effect of labor productivity index and economic growth. In addition, negative correlation of government budget deficit with economic growth is also maintained.

Research paper thumbnail of New insight into examining the role of financial development in economic growth effect on a composite environmental quality index

Environmental Science and Pollution Research, Jun 24, 2021

The inclusion of an index, which can be the representative of environmental quality from differen... more The inclusion of an index, which can be the representative of environmental quality from different aspects, seems to be of paramount significance. This issue is a major challenging one in the economic–environmental literature. This study investigates the role of financial development in economic growth effect on the composite environmental quality index (CEQI) in two groups of selected Organization of the Petroleum Exporting Countries (OPEC) and Organization for Economic Co-operation and Development (OECD) countries. In this regard, System Generalized Method of Moment (SYS-GMM) is applied to fit the research models. According to the findings, in the selected OPEC countries, financial development reinforces negative impacts of economic growth on environmental quality. In the selected OECD countries, economic growth has negative effect on the environmental quality and financial development weakens this effect. The effect of financial development on the CEQI is respectively negative and positive in OPEC and OECD countries. Moreover, in both groups of selected countries, energy consumption and economic growth have a negative impact on the CEQI; nonetheless, trade openness has a positive effect. Accordingly, some policy suggestions and new recommendations are presented for future studies, which would contribute to the better implementation of economic–environmental policies. Graphical abstract Graphical abstract

Research paper thumbnail of Investigating marginal effect of economic growth on environmental quality based on six environmental indicators: does financial development have a determinative role in strengthening or weakening this effect?

Environmental Science and Pollution Research, May 25, 2021

Given the complexity of the correlation of economic growth with financial development, and their ... more Given the complexity of the correlation of economic growth with financial development, and their interactive impacts on environmental quality, this study attempted to present new insights into indecisive outcomes from the contribution of financial development in determining the impressionability of environmental indicators under economic growth conditions. Previous studies only employed a single environmental indicator for analyzing the correlation between economic factors and environmental quality. However, six environmental indicators are adopted in this study to evaluate environmental quality and to reach major goals of this research. To this end, using 2-stage system generalized technique of moment estimator, the association of economic growth, energy consumption, financial development, environmental indicators, and trade openness is determined in selected OPEC countries for years 2010 to 2019. Findings indicated that accompanied by the effects of economic growth on any EFI, ANS, PN, and EPI variables, the financial development enhances such effect. This is while, the financial development would weaken the economic growth effect on the ESI variable. Regarding EVI, no significant association was observed. Regarding to ESI, EPI, and PN, trade openness applies a significantly positive impact on environmental quality; on the other hand, it has positive role in environmental degradation based on EFI and ANS. This is while, according to the EVI variable, trade openness has not meaningful impact on environmental status. Finally, energy use has significant and positive effects on environmental degradation in each of environmental indicators. However, this variable has not shown significant impact on EPI and ANS. Alternatively, findings indicated that financial development can be considered an important and key variable in improvement of the environmental quality due to the moderating role it plays relative to the negative economic growth effect on the environmental quality. At the end of this paper, some limitations are presented, and some suggestions for further studies are provided as well.

Research paper thumbnail of Investigating the Short- run and Long-run Causality Relationship between the Exchange Rate Regime and the Real Exchange Rate Misalignment in the OPEC Countries

فصلنامه سیاستهای مالی و اقتصادی, Mar 1, 2023

Research paper thumbnail of Estimating Output Gap and the Effects on Inflation Rate in Iran

Research paper thumbnail of Exchange Rate Pass Through and Export Price Index in Iran: 1369:1-1385:4

Research paper thumbnail of Comparative comparison of the effect of oil shock on macroeconomic variables in Iran and GCC countries

Quarterly Journal of Quantitative Economics, Jun 26, 2021

Research paper thumbnail of Is it Necessary for Iran to Increase the Share of ICT Sector in GDP?

Faslnāmah-i Pizhūhish/Nāmah-i Iqtisādī, 2018

Estimations and calculations show that the ICT market in Iran was around 320 billion IRRs in 2015... more Estimations and calculations show that the ICT market in Iran was around 320 billion IRRs in 2015, which is about 2.6% of gross domestic production (GPD). at the end of the sixth plan for social and economic development of Iran, it has been set that this amount should be increased to be more than 5% of GDP and to be about 1000 billion IRRs. The present study will answer the following two questions. 1- Is increasing the share of ICT sector in GDP necessary? 2- How much does the economic growth change with one percentage increase in share of ICT sector in GDP? To answer these two questions, contribution of ICT sector on economic growth in Iran is first calculated through two methods of actual and potential contribution and then compared with each other. The results show that average GDP growth in Iran is about 3.8% for the period of 1990-2015 and, based on growth accounting, the potential contribution of ICT on economic growth is about half a percent. Actual contribution of ICT sector...

Research paper thumbnail of The Effect of Monetary Policies on Performance of Banks: A Dynamic Stochastic General Equilibrium (DSGE) Approach

Faslnāmah-i Pizhūhish/Nāmah-i Iqtisādī, 2019

Banking system, as one of the most important parts of macroeconomy, plays a vital role in general... more Banking system, as one of the most important parts of macroeconomy, plays a vital role in general economic equilibrium and transition of economic shocks in the society. Because of that, it is of sensitive role in national economy. In addition to implementing dictated monetary policies of central banks, they as any economic business, pursue the goal of increasing their profitability. In this study, we use Dynamic Stochastic General Equilibrium (DSGE) and take into account five economic sectors, namely households, entrepreneurs, mediator banks, distributors and government, to study the reaction of banks to emergence of monetary shocks. For this purpose, the authors seek to make use of long-term macroeconomic parameters. The results of our model show that, upon emergence of a positive shock on interest rate, due to the decrease of request for loan and the amount of lent money, the rate of loaning and as a result, the profit of banks is reduced, and in the case of a positive oil shock, ...

Research paper thumbnail of A Study on Effects of Nuclear Energy Consumption Growth on Economic Growth in Multi Chosen Countries

Research paper thumbnail of New Insights into Development of an Environmental – Economic Model Based on a Composite Environmental Quality Index: A Comparative Analysis of Economic Growth and Environmental Quality Trend

In order to fill the research gap regarding the use of a comprehensive index that includes all di... more In order to fill the research gap regarding the use of a comprehensive index that includes all dimensions of environmental pollution, this study sought to develop a composite environmental quality index to tackle with the possible bias and remove the possible linearity in the experimental research model. Principal Component Analysis (PCA) and Artificial Neural Network (ANN) methods were used to obtain this composite index. This study used six environmental indicators from two groups of Organization of Petroleum Exporting Countries (OPEC) and Organization for Economic Co-operation and Development (OECD) during 2008-2019. According to the obtained error criteria related to the two methods, ANN method was used to calculate the weight of environmental indicators due to having the lowest error criteria and therefore reliable results. Finally, using this composite index, the trend of economic growth and environmental quality were analyzed graphically. The results showed that along with th...

Research paper thumbnail of The Dynamics of Economic Growth and Output Volatility

Research paper thumbnail of Predictability Test of Stock Market Price Index in Iran Investment Market and Comparing Linear and Nonlinear Models Predictability Potentials

Research paper thumbnail of New insight into examining the role of financial development in economic growth effect on a composite environmental quality index

Environmental Science and Pollution Research, 2021

The inclusion of an index, which can be the representative of environmental quality from differen... more The inclusion of an index, which can be the representative of environmental quality from different aspects, seems to be of paramount significance. This issue is a major challenging one in the economic–environmental literature. This study investigates the role of financial development in economic growth effect on the composite environmental quality index (CEQI) in two groups of selected Organization of the Petroleum Exporting Countries (OPEC) and Organization for Economic Co-operation and Development (OECD) countries. In this regard, System Generalized Method of Moment (SYS-GMM) is applied to fit the research models. According to the findings, in the selected OPEC countries, financial development reinforces negative impacts of economic growth on environmental quality. In the selected OECD countries, economic growth has negative effect on the environmental quality and financial development weakens this effect. The effect of financial development on the CEQI is respectively negative and positive in OPEC and OECD countries. Moreover, in both groups of selected countries, energy consumption and economic growth have a negative impact on the CEQI; nonetheless, trade openness has a positive effect. Accordingly, some policy suggestions and new recommendations are presented for future studies, which would contribute to the better implementation of economic–environmental policies. Graphical abstract Graphical abstract

Research paper thumbnail of Investigating marginal effect of economic growth on environmental quality based on six environmental indicators: does financial development have a determinative role in strengthening or weakening this effect?

Environmental Science and Pollution Research, 2021

Given the complexity of the correlation of economic growth with financial development, and their ... more Given the complexity of the correlation of economic growth with financial development, and their interactive impacts on environmental quality, this study attempted to present new insights into indecisive outcomes from the contribution of financial development in determining the impressionability of environmental indicators under economic growth conditions. Previous studies only employed a single environmental indicator for analyzing the correlation between economic factors and environmental quality. However, six environmental indicators are adopted in this study to evaluate environmental quality and to reach major goals of this research. To this end, using 2-stage system generalized technique of moment estimator, the association of economic growth, energy consumption, financial development, environmental indicators, and trade openness is determined in selected OPEC countries for years 2010 to 2019. Findings indicated that accompanied by the effects of economic growth on any EFI, ANS, PN, and EPI variables, the financial development enhances such effect. This is while, the financial development would weaken the economic growth effect on the ESI variable. Regarding EVI, no significant association was observed. Regarding to ESI, EPI, and PN, trade openness applies a significantly positive impact on environmental quality; on the other hand, it has positive role in environmental degradation based on EFI and ANS. This is while, according to the EVI variable, trade openness has not meaningful impact on environmental status. Finally, energy use has significant and positive effects on environmental degradation in each of environmental indicators. However, this variable has not shown significant impact on EPI and ANS. Alternatively, findings indicated that financial development can be considered an important and key variable in improvement of the environmental quality due to the moderating role it plays relative to the negative economic growth effect on the environmental quality. At the end of this paper, some limitations are presented, and some suggestions for further studies are provided as well.

Research paper thumbnail of Growth and Productivity; The Role of Budget Deficit in the MENA Selected Countries

Procedia Economics and Finance, 2016

Today, efficiency is considered as one of the most effective ways of increasing economic growth b... more Today, efficiency is considered as one of the most effective ways of increasing economic growth by many planners and economic policy makers in different countries; further, huge investments made in this regard. On the other hand, the issue of budget deficit was introduced in economic literature since 1980s. Within this decade, current budget deficit significantly increased in the USA. Emerging of this phenomenon prompted many economists to establish public sector as the macroeconomic unbalancing factor, on the contrary to Keynesy who regarded public sector as the balance factor, particularly in developing countries since developing countries deal with specific problems such as foreign debt, high inflation, difficulties of payment balances, exchange parallel markets as well as various external shocks. Therefore, this research tried to study the effect of growth, efficiency and government budget deficit in MENA selected countries within 2000-2013 by using the recommended static panel models. Results of the estimated relations for the first model in which government budget deficit is the dependent variable indicate positive effect of economic growth and inflation rate variables as well as the negative effect of labor productivity and government budget deficit. Moreover, the second model in which economic growth is the dependent variable demonstrates the positive effect of labor productivity index and economic growth. In addition, negative correlation of government budget deficit with economic growth is also maintained.