iran  budgeting  structure  and concepts  have  changed  since  200 i .these changes  embrace  the  items  such  as  ,   concepts  of revenues  ,   expenses  , capital   assets   as  well   as   financial   assets   ,    which   resulted    in  more information  transparency .   as a results  the government  budget  is  drawn up  as  such  of an  economic   firm's  budget.  structural  ref...

in this paper, based on error correction model by using panel data, an empirical analysis of demand for international reserves for 16 islamic countries is investigated. besides addressing conventional issues, the model explicitly incorporates the impact of expected export revenues and the impact of the exchange rate system on reserve demand. the results reveal that, short run money market diseq...

On the basis of Dunning’s Investment Development Path (IDP) hypothesis, this paper tests the macroeconomic determinants of Chinese Offshore Direct Investment (ODI) from a home-country perspective. We review the recent firmand country-level studies on determinants of Chinese ODI. We propose a model and test seven home-country macroeconomic variables as determinants of Chinese ODI. Our results re...

We show that dependence on foreign energy can increase economic instability by raising the likelihood of equilibrium indeterminacy, hence making ‡uctuations driven by selfful…lling expectations easier to occur. This is demonstrated in a standard neoclassical growth model. Calibration exercises, based on the estimated share of imported energy in production for several countries, show that the de...

Currently, Eurodollars and fed funds markets combined trade about $220 billion in funds daily, the vast majority of which with overnight tenor. In this paper, we document several features of these wholesale unsecured dollar funding markets. Using daily confidential data on wholesale unsecured borrowing and reserve balances, we show that foreign banks, which make up most of the trading volumes i...

The purpose of this study is to study the impact of macroeconomic factors on return of energy sector in Shanghai stock market (SEE), which are inflation rate, money supply (M2), exchange rate, industrial production, bond, exports, imports, foreign reserve and unemployment rate. The secondary data, collected from People’s Bank of China and the National Bureau of Statistics of China, were for the...

This paper studies the impact of macroeconomic volatility/uncertainty on the accumulation of net foreign assets of a country. We first show that, in OECD economies over the period 1970-2012, increases in country specific macroeconomic volatility are, after controlling for wide array of factors, significantly associated with accumulation of net foreign assets. An increase in volatility (measured...