Sustained industrial growth has been widely acknowledged as an engine of economic transformation. Less developed countries, however, remained predominantly agrarian due to lack of dynamism in the industrial economy and the low level of industrialization. Economic policy reform programme was initiated in July 1991 to generate essential dynamism in the industrial sector for successful transformat...

Stress in financial markets influences economic agents’ behavior by creating uncertainty and changing the expectations. Critical financial stress can lead to financial crisis. Financial crises are among the events always present in the world economy. Iran is not an exception. This paper aims to study the impact of financial stresses on Iran’s per capita GDP. By using ARDL (Auto Regressive Distr...

This paper considers the question of economic nationalism through the lens of economic openness. Complete economic openness, which connotes close or total integration of a country with that of the world economy, is the antonym of economic nationalism. The paper argues that economic openness is a multi-dimensional concept. A country can be open, or not so open to all or some of the following: tr...

Following years of rapid economic growth, China currently faces a crisis of its economic institutions. Unconstrained business behavior has led to the accumulation of externalities with high social costs. In this paper we consider the challenges of institutional change that China faces, especially the need to evolve a system of ‘hard constraints’ reinforced by ‘soft constraints’. We describe the...

Failure to timely identify the occurrence of various shocks in the foreign exchange market due to the close relationship with the monetary, macroeconomic, and financial uncertainty can lead to crises and imbalances. In this paper, the effect of exchange rate and investor confidence on monetary and economic uncertainty in Iran is investigated, specifying a Multivariate GARCH model and the Grange...

economic policy consists of various methodologies, approaches and models through which the economists devise strategies to influence the overall economy. the integration of theoretical and practical frameworks provides the ground for emerging new models which are a part of economic system of the countries.each economic model is a combination of specific methodology, theoretical bases and specia...

China has created an economic miracle since its economic reforms began in the late 1970s, becoming the fastest growing economy in the world. Gross domestic product has grown at an average rate of 10 percent annually for the past 18 years, and personal income and living standards have improved significantly. China may become the world’s largest economy early next century. The great success of Ch...

â â â â â  â  in this paper, we address the question that does fdi alone affect economic growth or interaction of fdi and human capital is required to boost economic growth. we develop the model with an expanding variety of products. we estimate the model using some advanced tests utilizing data on fdi flows from developed countries. we find stronger complementary effects between fdi and human ...