Mapping Iran s System of National Accounts to Classical Economic Categories (original) (raw)
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The post-revolutionary Iranian society has experienced two simultaneous, contradictory phenomena: the ever-strengthening capitalist class relations accompanied by ever-weakening capitalist production. These twin unaligned tendencies have continually threatened the viability of the post-revolutionary political economy. In order to explain such a situation, I suggest the capital accumulation chain as the main conceptual framework for both tracing the path taken historically, and assessing the possible roads ahead. The capital accumulation chain embraces its six links as necessary structural conditions of possibility for accumulating capital in the post-revolutionary Iranian economy. Seeing through its lens, the post-revolutionary Iranian political economy can be studied as interactions between six conceptual moments: non-exploitative economic oppression, exploitation of labour, exploitation of nature, production in the workplaces, national and international commodity markets’ effectiv...
Iran's Economy: Dilemma of an Islamic State
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Chapter 9 Economic Growth and Economic Policy in Iran: 1950–2003
Contributions to Economic Analysis, 2006
The Iranian experience reveals, in a number of ways, the potentials, problems, and challenges that have been confronted by other populated oil-exporting countries-a tale of high expectations turning into mediocre performance. Three distinct growth periods, with different political and policy environments, are identified over the 1950-2003 period. From the 1960s up to the first oil boom (1973-1974) the economy exhibited high GDP growth and low inflation rates. The oil boom brought in large financial resources, but also induced soft-budget constraints, and expanded the public sector. The huge increase in oil-financed government spending raised growth temporarily above its trend; however, by creating inflation and opportunities for rent seeking, it resulted in economic and social instability. The positive wealth and saving effects of the oil boom did not have a long-lasting effect on either economic growth rates or on per-capita income levels. Since 1974 economic growth has been volatile and factor-intensive and total factor productivity did not make a significant contribution to economic growth. The evidence also does not support that human capital accumulation has strongly contributed to economic growth. While fixed investment/GDP ratios in Iran compare favorably with high growth economies, the growth performance does not; too many resources have been spent to produce only an average growth performance. It is argued that Iran's relatively rich resources, high rates of accumulation of physical and human capital, but a mundane growth performance and continued dependence on oil reflect inadequate economic institutions, price/incentive distortions, policy coordination and rentseeking problems, and the effect of the Iran-Iraq war. In the episodes with superior à Corresponding author.
Trends Analyzing of Economic Structure in Iran
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The increasing amount of income due to the discovery of oil in Iran has caused a gap between the production and need of agricultural products, causing the increase in the import of agricultural products in Iran's economy. The existing gap caused a drastic increase in the prices, and since the growth of agricultural products needed Infrastructure investment, it has been tried to control the increase in the prices with an increase in the import rate. So capital accumulation has not been done to the required rate and the production in agriculture has not increased to the expected rate. The share of workers in the agricultural sector of Iran has faced a decrease since 1980. This is while in the international level, agriculture for the growth of economy, decrease of poverty, food security, and the stability of environment is of high importance. A general investment can reduce risks in the agriculture and increase efficiency in private sectors, so the motives of farmers for investment will be increased.
Political Economy of Iran under the Pahlavi’s
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International Letters of Social and Humanistic Sciences, 2015
This working paper strives to measure analyze and the productivity of capital in the industrial sector in the case of the State of Sistan and Baloochestan over the period 1982-2009. Three production functions (Debertin, Cobb-Douglas and Transcendental logarithm (Translog)) are estimated by relevant variables such as labor, capital and GDP. Akaike, Schwarz information criteria and LR test indicate that the Cobb-Douglas model should be preferred. In order to avoid a spurious regressing Johansen test detects a cointegration. According to this detection the cointegration term (-0.46) indicates that the deviation from long-run equilibrium is rectified gradually through a series of partial short term adjustments after or so two years.The results of this function reveal that there's been a diminishing trend in productivity of capital since 1982.So it demonstrates the lack of attention to capital productivity. Thus we can conclude that Sistan suffers from the absence of comprehensive strategy and segregation between trade and production policies.
The Role of Capital Formation and Saving in Promoting Economic Growth in Iran
This paper estimates the interdependencies between capital formation, saving and output for Iran. The analysis is complicated because of the conflicting theoretical and empirical findings of their relative roles in other studies, the lack of research on Iran whose turbulent history makes it difficult to disentangle the complex and changing interrelationships between output, saving and investment for the period of our study, 1960 to 2003. The analysis uses Lee and Strazicich (2004) procedure to endogenously determine that structural breaks occurred in 1979 for real output, 1983 for saving and 1977 for investment. These dates coincide with the effect of the Islamic revolution in 1979 and Iran-Iraq war, 1980 to 1988. The relationships were estimated using Johansen's FIML procedure which is appropriate for estimating the effects of non-stationary variables in a simultaneous setting. The estimates indicate a Solow style relationship where a one percent increase in saving will be associated with a 0.55 percent increase in the long run equilibrium level of output. This also implies the share of income that is paid to capital in the form of saving in Iran is higher at 0.55 than the average for developed countries of around 0.35. The role of investment was found to be imprecise in the long run. The short run estimates show that saving has a short run equilibrating effect on output with elasticity −0.13, which further supports the Solow model whereby changes to saving have only transitory effects on the growth in output. The other important result found that investment dynamically Granger causes output growth with a short run elasticity of 0.17, consistent with the endogenous growth explanation. The structural change parameter estimates that the effect on the growth in output fell by around 10 percent after 1979. These findings have two important policy implications for Iran. First, there is scope to reduce the reliance of saving as the domestic source of economic growth. Second, saving needs to be better targeted to the long run strategic provision of capital (including infrastructure) in the structurally transforming economy of Iran.