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        1 - The Role of Financial Innovation on the Economic Growth of Developed and Developing Countries Based on Schumpeter's Growth Model
        Arsham Hodaei Mohamad Reza Farzin Karim emami jeze farhad ghaffari
        Arsham Hedaei Mohammad Reza Farzin Karim Emami Jazeh Farhad Ghaffari Abstract In the world, most of the national economies have experienced economic stagnation after the financial crisis. This has raised the need to examine the impact of financial innova More
        Arsham Hedaei Mohammad Reza Farzin Karim Emami Jazeh Farhad Ghaffari Abstract In the world, most of the national economies have experienced economic stagnation after the financial crisis. This has raised the need to examine the impact of financial innovation and economic growth to protect countries from problems that may arise from financial sector market failures. With the growth in the global economy, it is one of the basic factors of financial innovation that is observed in developed and developing countries and creates fruitful results for the economy. The relationship between financial innovation and economic growth during the last few decades is one of the topics of concern for economists. In this study, using the PMG test, we test the effect of financial innovation indicators on economic growth in developed and developing countries for the period from 2000 to 2022. Three proxy variables have been used to calculate financial innovation: liquidity to the volume of money in circulation (M2/M1), bank credit to the private sector, and a proxy with mobile phone penetration is used to calculate the number of active internet subscribers to the population. In developed countries, in the long run, all the coefficients except the inflation rate are significant at the level of 5%. The effect of government spending, gross capital formation and trade liberalization on economic growth has been positive. The coefficients of M2/M1 and mobile phone penetration are negative and the reliability coefficient is positive. In developing countries, coefficients of M2/M1 and mobile phone penetration are negative and credits are positive. Financial innovation indicators M2/M1 and mobile phone penetration rate (MB) have a negative effect on economic growth. The growth of innovation cannot be the basis of economic development for developing economies; Because the infrastructure is not available in these countries. Manuscript profile
      • Open Access Article

        2 - Analysis of the effects of monetary policy, government control and sanctions on production growth in Iran
        Taherh Omodi Fathkohi Morteza Ezzati رقیه  حسن‌زاده
        Abstract Production growth is the most important goal in all world economies. The main goal of all macroeconomic policies in different countries is to maintain and increase production as much as possible in the first step. Different policies are implemented in differen More
        Abstract Production growth is the most important goal in all world economies. The main goal of all macroeconomic policies in different countries is to maintain and increase production as much as possible in the first step. Different policies are implemented in different countries. Among these policies, a main category is monetary policies. The purpose of this article is to estimate the effects of monetary policy (within the framework of liquidity regulation and interest rate control), government control (in the monetary sector) and sanctions on Iran's GDP. In this study, data from the years 1357 to 1399 were used. Monetary policy, government control and sanctions were considered as independent variables and production as a dependent variable. The method of data analysis is econometrics, autoregressive with distributed lags (ARDL). EViews software was used to estimate the model. The findings of the research show that the embargo had a negative effect on the GDP. The monetary policy of increasing the applied liquidity has had a positive effect on production, and the monetary policy within the framework of interest rate or bank interest has not had a significant effect on production. Also, government control policy has had a positive effect on production. Manuscript profile