تحلیل اثرات عوامل نهادی بر سرمایه‌گذاری در کشورهای منتخب عضو اوپک

نوع مقاله: علمی - پژوهشی

نویسندگان

1 استادیار گروه اقتصاد دانشگاه آزاد اسلامی واحد اصفهان(خوراسگان)، اصفهان، ایران

2 دانش آموخته کارشناسی ارشد دانشگاه آزاد اسلامی واحد اصفهان(خوراسگان)، اصفهان، ایران

10.22080/iejm.2019.13439.1573

چکیده

در دهه اخیر، این اتفاق نظر در بین اقتصاددانان شکل گرفته است که نهادها از عوامل اساسی و مهم تاثیرگذار بر تفاوت کشورهای جهان در رشد اقتصادی و سرمایه­گذاری هستند. لذا مطالعه حاضر تاثیر این نهادها بر سرمایه­گذاری در کشورهای منتخب عضو اوپک با استفاده از رگرسیون مبتنی بر داده­های تابلویی طی دوره 2015- 2002 مورد بررسی قرار می­دهد. به این منظور از شاخص­های حاکمیت نظم و قانون و محافظت از حقوق مالکیت به عنوان نهادهای خالق بازار، شاخص­های مقرارت و کنترل در بازار کار و اعتبارات به عنوان نهادهای تنظیم کننده، شاخص دسترسی به پول سالم تحت عنوان نهادهای تثبیت کننده بازار و شاخص پاسخ­گویی دموکراتیک به عنوان نهادهای مشروعیت بخش بازار، استفاده شده است. نتایج نشان دادند که نهادهای خالق بازار و تنظیم کننده در کشورهای منتخب اوپک بر سرمایه­گذاری موثر بوده ولی نهاد تثبیت کننده بازار و نهاد مشروعیت بازار معنادار نیست.

کلیدواژه‌ها


عنوان مقاله [English]

The Analysis of the Effects of Institutional Factors on the Investment in Selected OPEC-Member Countries

نویسندگان [English]

  • Sara Ghobadi 1
  • Hajar Mozafari shamsi 2
  • Fardis Faramarzi 2
1 Assistant professor, faculty of Economics, Islamic Azad University, Khorasgan (Isfahan) branch, Iran
2 MA student, faculty of Economics, Islamic Azad University, Khorasgan (Isfahan) branch, Iran
چکیده [English]

In recent decade, it has been universally agreed by the economists that the institutions are the most influential factors affecting the economic growth and investment in selected Countries. The present study aimed to examine the impact of these institutions on investment OPEC-member countries by the use of panel-data-based regression from 2002-2015. To do so, the following indices are used: law and order and preservation of the property rights functioned as the market-creating institutions, the control and regulations in the labor market functioned as the regulating institutions, accessibility to the sound money functioned as the market-stabilizing institutions and democratic accountabilities functioned as the market-legitimizing institutions. The results suggested that the regulating and the market-stabilizing institutions in OPEC-member countries can be influential in the investment, but the market-stabilizing and the legitimizing institutions are not significant and produce no impact on the investment. In other words, it is essential to strengthen the legitimizing and stabilizing institutions for a better investment function.

کلیدواژه‌ها [English]

  • The market-creating institutions
  • the market-regulating institutions
  • the market-stabilizing institutions
  • the market-legitimizing institutions
  • the regression based upon the panel data

Abbasi Nejad, H. & Yari, H. (2007). The Investigation Effect of the Rate of Interest of Banking Facility on Private Investment in the Long run of Iran. Quarterly Journal of Economic Research, 42(4), 1-20.[In Persian]

Acemoglu, D. & Robinson, JA. (2000). Why Did the West Extend the Franchise? Democracy, Inequality and Growth in Historical Perspective ''. Quarterly Journal of Economics.

Asghar Pour, H., Salmani, B., Fashari, M. & Dehghani, A. (2011). The Impact of Corruption on the Rate of Gross National Savings in the countries of the MENA region (Dynamic Panel Data Approach). Quarterly Journal of Economic Modeling Research, 3, 99-121. [In Persian]

Baltagi, B.H. (2001). “Econometric Analysis of Panel Data.” Chichester: John Wiley & SonsLtd.

Bakhtiari, S. (2005). Macroeconomics, Isfahan, Isfahan University Press . First edition, 372. [In Persian]

Coase, R. (1937). “The Nature of the Firm.” Economica, 4(16), 386-405.

Green, W.H. (2001). Econometric analysis. Macmillan, New York University, Fifth Edition.

Jafari Samimi, A. & Azarmand, H. (2005). The Investigating Effect of Institutional Variables on Economic Growth in World Countries. Quarterly Journal of Economic Research Knowledge and Development, 16, 36-11. [In Persian]

Jerome Lim, J. ( 2014).  Institutional and structural determinants of investment Worldwide. Journal of Macroeconomics. 41 ,160–177.

Hosainzadeh Bahreini,  M. & Malekosadati, S.(2011). Institutional obstacles to investment and business in Iran. Iranian Journal of Trade Studies,  15(59), 25-74. [In Persian]

Knack, s. & Keefer, Ph. (1995). Institutions and Economic Performance: Cross-Country Tests Using Alternative Institutional Indicators.

Maddison, A. (2001). The World Economy in Millennial Perspective, Paris: OECD.

Mehregan, N. & Deliri, H. (2010). Application of stata in statistics and econometrics. First edition, Tehran: Noor Elm Publication, 142.

Mohammadi, T. & Nadiri, M. (2013). Investigating Impact of Market Creator Institutions and Other Institutions on Economic Growth (Intergovernmental Approach). Quarterly Journal of Economic Research, 13 (4 177-207. [In Persian]

Motavaseli, M. & Fathollahi, J. (2010). An Introduction to Williamson's Theories and Its Application in Analysis the Issues of Iran's Development. Quarterly Journal of Economic Research, 10(3), 25-52. [In Persian]

North, D.C. (1990). Institutions, Institutional Change and Economic
Performance. Cambridge University Press, Cambridge.

North, D.C. & Thomas, R. (1973). The Rise of the Western World: A New Economic History. Cambridge: Cambridge University Press.

Quah, D. (2002). One Third of the World's Growth and Inequality, CEPR Discussion Papers 3316, C.E.P.R. Discussion Papers.

Rahmani, T. (2006). Macroeconomics. First volume. 10th Edition, Tehran: Brothers Publishing, p. 245. [In Persian].

Rebelo, S. (1998). The role of knowledge and capital in economic growth.

Rodrik, D. (2005). Growth strategies. Handbook of Economic Growth. 1 (1), 967–1014.

Rodrik, D. (2007). Institutions for High-Quality Growth in One Economics, Many Recipes: Globalization, Institutions, and Economic Growth.Princeton University Press.

Shen, J. (2002). Democracy and Growth: An alternative empirical approach. Helsinki Bank of Finland, Institute for Economies in Transition.BOFIT Discussion Paper No 13.

Shakeri, M., Jafari Samimi, A. & Karimi Moughari Z.(2015). The Relationship between Institutional Variables and Economic Growth: Introducing a New Institutional Measure for Middle East and North Africa (MENA). Quarterly Journal of Economic Growth and Development Research,  6(21), 106-93. [In Persian]

Snowdon, B. & Vane, H. (2005). Modern Macroeconomics: Its Origins, Development and Curent State. Cheltenham, UK; Northhampton, MA: E. Elgar.

Tabibian, S.M. (2011). Macroeconomics, Tehran, Institute for management and planning studies. Page 540. [In Persian]

Tafazoli, F. (2002). History of Economic Ideas. Tehran: Publishing Ney. Print Number 14. p. 688. [In Persian].

www.Freetheworld.com.

www.govindicators.org.

www.worldbank.org