نوع مقاله : مقاله پژوهشی
نویسندگان
1 گروه توسعه اقتصادی و برنامهریزی، دانشکده اقتصاد و مدیریت، دانشگاه تبریز، تبریز، ایران.
2 گروه اقتصاد، دانشکده اقتصاد و مدیریت، دانشگاه تبریز، تبریز، ایران.
3 گروه علوم اقتصادى - توسعه اقتصادى، دانشکده اقتصاد و مدیریت، دانشگاه تبریز، تبریز، ایران.
چکیده
کلیدواژهها
موضوعات
عنوان مقاله [English]
نویسندگان [English]
In this study, the threshold effects of oil rent on non-oil economic growth at different levels of financial development in Iran were evaluated using annual data for the period 1995-2023. For this purpose, three financial development indicators, including the ratio of credits granted to the private sector to GDP, the ratio of liquidity to GDP, and the ratio of financial credits provided by the banking sector to GDP, as well as a composite index, were used as threshold variables in the model. The results show that fixed capital formation and labor force have a positive and significant effect on non-oil growth in all models. Significant threshold effects were observed for three financial development indicators (liquidity, bank credits, and the composite index), which indicates the dependence of the effect of oil rent on the level of financial development.At low levels of financial development, oil rents have mostly insignificant effects, but at high levels, depending on the index, negative (due to inefficient resource allocation) or positive (in the composite index due to a coordinated financial system) effects are seen. These results, while confirming the role of capital and labor in accordance with the Solow growth model, indicate the deviation of the oil rent effect from the predictions of this model at low levels of financial development and the need to strengthen the financial system to achieve sustainable growth. These findings emphasize the need for institutional reforms, improved resource allocation, and strengthening the financial system to transform oil rents into sustainable non-oil growth.
کلیدواژهها [English]
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