abbas memarnejad

Monetary policy is a tool through which central banks manage the supply of money to achieve their goals, and it is one of the key elements of macroeconomic management, and its effectiveness is an important issue in the analysis of economic policies. The usual goals of monetary policy are to achieve or maintain full employment, to achieve or maintain a high rate of economic growth, and to stabilize prices. For this purpose, in this research, the effects of this policy on production and employment, which have been calibrated for the Iranian economy by considering frictional unemployment in the form of a monetary general equilibrium model, have been investigated. The results show that the effect of monetary growth on employment and production in a steady state may be non-linear depending on the two parameters of labor supply elasticity and elasticity of vacancies in job matches, so that the lower the labor supply elasticity and elasticity of vacancies in job matches, it is more likely that monetary growth will have adverse effects on employment and production. Also, in the framework of the model, the negative relationship between the unemployment rate and vacancies is calculated, and with the increase of the Quarterly monetary growth rate from zero to 5%, the employment and production values in a steady state, they increase by about 0.4%. In addition, considering the transition dynamic, with the reduction of the monetary growth rate from the level of the benchmark case to the level of 2.5%, the equilibrium values of the variables will converge to their new equilibrium values after 2.5 years. Therefore, it is suggested that the central bank should pay attention to the effectiveness of monetary policy on production and employment in order to achieve macroeconomic goals in recession and boom. And since monetary growth is not always unfavorable for production and employment, the effects of this reduction on production should be taken into account in inflation reduction policies.

One of the aspects of improving people's health is to pay attention to environmental mechanisms that affect people's health with their ecological effects. In the current study, the effects of industrialization and economic development on the production of greenhouse gases are discussed in line with people's health.

in the present article, following the studies; Zhao et al. (2023), Yeboa et al. (2023), Zhou et al. (2023) and Wen et al. (2022) explain the effects of industrialization, economic development, on the production of greenhouse gases in line with the sustainability of people's health in countries (G7) and OPEC countries based on the quantile panel regression model and for the time period of 2000-2022.

The estimation results confirm the relationship between financial development and environmental degradation in two groups of countries (G7) and countries (OPEC). The estimation results also show the confirmation of the effect of energy consumption on global warming potential in (G7) countries and (OPEC) countries and energy consumption has a positive effect on environmental pollution, in (OPEC) countries due to the abundance of energy and natural resources, energy prices is low, which has caused excessive and incorrect use of energy.

It can be said that the development of commercial and financial markets can lead to the improvement of human capital in countries. But this will happen better when the right context is provided for the optimal allocation of resources and the efficiency of labor and capital is increased. Financial development is an important factor in economic growth and the health status of people, which affects the health status of people not only directly but also indirectly through the environment; Also, in addition to adding physical capital in various sectors of the economy, investment in human capital should also be made. The financial sector development mechanism works in such a way that financial resources are provided from various private and government channels for the health sector of individuals; Because the efficiency of health services depends on the correct management of health system resources and its connection with the governing financial system. Investing in human resources is the education and training of human resources to acquire different skills and advance production, which can increase production and achieve economic development by raising the level of skill and expertise of the workforce and increasing its productivity. (G7) is more intuitive.

This study aims to analyze the optimal monetary policy response to economic shocks in Iran using a Dynamic Stochastic General Equilibrium (DSGE) model. The focus is on determining the effectiveness of monetary policies in stabilizing the economy and enhancing welfare in the face of various economic shocks. The research employs an analytical-descriptive and applied approach, utilizing the DSGE model calibrated with data from 2011 to 2022. Data was gathered from the Statistical Center of Iran and the Central Bank of Iran. The DSGE model's calibration involved using existing data and studies to assign parameter values, while standard global literature values were used where local data was unavailable. The model was coded and analyzed using Dynare software. Results indicate that optimal monetary policies significantly improve economic stability and welfare. The study found that economic shocks, such as oil price fluctuations and changes in tax revenues, have substantial impacts on key economic indicators. The DSGE model effectively captured these impacts, providing insights into the necessary adjustments in monetary policies to mitigate these shocks. Optimal monetary policies are crucial for stabilizing the economy and enhancing welfare, particularly in an economy heavily dependent on oil revenues like Iran. The findings underscore the importance of adjusting monetary policies to counteract economic shocks. The use of DSGE models proves valuable in predicting and analyzing the effects of these policies, aiding policymakers in making informed decisions.

The purpose of this study is to examine the relationship between corporate governance and capital formation using the financial development channel. According to the investigations, it was found that the direct effect of corporate governance on capital formation is unclear, which depends on several factors. The analysis of the data showed that corporate governance through the channel of financial development can have an effect on capital formation, which, of course, is different among countries and the reason for that is the different level of development of the countries. In this study, the data of 30 countries including 12 countries in the Middle East region and 18 countries of the OECD during the years 2005-2020 have been used in the form of Panel-GMM method. The results of the research showed that corporate governance in Middle East countries, which have a lower level of corporate governance and development, has a positive and significant effect on capital formation, and improving corporate governance improves capital formation. But this relationship has not been significant for OECD countries. Also, financial development in both groups of countries had a positive and significant impact on capital formation, but its impact was greater in the Middle East countries. Also, the results of examining financial development in more detail showed that financial development from the perspective of market development improves capital formation in countries, but financial development from the perspective of institutional development has no effect on improving capital formation.

In recent years, financial inclusion increasingly has been raised as an important socio-economic issue in the political agenda of many governments and international institutions. Increasing attention to this issue is due to a better understanding of its importance and place in economic development and its key role in poverty reduction and inclusive and sustainable development of societies. Therefore, in this study, the effects of financial inclusion on the poverty and income inequality in 30 provinces of the country during the period of 2006-2020 have been investigated using the Panel Autoregressive with Distributed Lags model. The results of the estimation of the income inequality and poverty model show that financial inclusion in the long and short term has caused a decrease and an increase in the Gini coefficient (income inequality index) and the poverty (poverty index), respectively. In such a way that in the long term, with the increase in the financial inclusion index, the Gini coefficient has decreased by 0.91 percent and poverty by 0.20 percent. It can be argued that the existence of a strong financial market with low risk encourages investments. In addition to improving production and employment, this process improves income distribution and reduces poverty.

Investment is one of the main component of aggregate demand in economy which plays a crucial role in the economic fluctuations and economic growth of each country So economist and policymakers focused on interpret of Investment behavior.  One of the most important factors in the decision to invest in both domestic and foreign investment is the existence of a secure environment. in other words, the most important factors is the proper investment environment and what has been interpreted as the ease of doing business. In such a way that improving the ranking of countries in business environment indicators is one of the prerequisites for attracting domestic and foreign capital and as a result investment. The main goal of this study is to investigate the effect of indicators of ease of doing business and domestic investment on foreign direct investment in selected countries. For this purpose, based on the division of the World Bank, four groups of countries are considered by their income level, including low-income countries, lower middle-income countries, upper middle-income countries and high-income countries, and the effect of domestic investment and indicators of ease of doing business have been evaluated using a Panel data model. The result shows that the level of development of countries and their income influences the magnitude and effect of domestic private investment and indicators ease of doing business on FDI. In a low-income, lower middle income and high-income countries, the effect of investment on foreign direct investment is positive, and in the upper middle countries, this has a negative effect. Meanwhile, the effect of each indicator of ease of doing business on foreign investment varies depending on the income level of countries.

One of the most important risks faced by financial institutions is credit risk, which is formed by the possibility of the receiver's default in repaying the loan or repaying the loan on time. One of the pivotal financial institutions in Iran's economy is the Export Guarantee Fund of Iran. Being the exclusive official export credit insurance entity in Iran, it operates under complete government ownership, shouldering all obligations associated with the fund's coverage. Over the past decade, the Export Guarantee Fund of Iran, the sole provider of export guarantees in the Iranian economy, has undertaken the risk amounting to approximately $15.8 billion through the issuance of diverse guarantees and insurance policies. The most significant volume of claims pertains to credit guarantees. Based on available statistics and official records within the Iranian entity, it can be observed that between the Iranian calendar years of 1387 and 1397, this fund issued guarantees totaling $6.7 billion, with the largest claim, exceeding $317 million, originating from the credit guarantees provided for the benefit of creditors. Recognizing the significance of this matter, the development of an optimal model for evaluating the credit guarantees provided by customers of the Export Guarantee Fund of Iran holds the potential to mitigate credit risk and subsequently decrease the fund's incurred losses. Even a one percent reduction in the fund's losses could result in substantial savings, amounting to at least 1,330 billion Rials. This figure is poised to grow even further as the fund increases the issuance of credit guarantees. Consequently, the primary objective of this research is to identify the most effective method for distinguishing between creditworthy and high-risk customers, ultimately diminishing the default rate of loans extended by the Export Guarantee Fund of Iran.

In this study, an artificial neural network model was employed to create a risk assessment framework for applicants seeking financial facilities and guarantees from this fund. This model exhibits exceptional predictive capabilities, especially in estimating the likelihood of default for the granted facilities. To achieve this objective, a dataset comprising 2,170 credit files granted by this fund was utilized. A total of 69 intra-organizational and extra-organizational variables were initially considered, and their respective information was gathered. Subsequently, six key variables were employed in the ultimate neural network model, encompassing the credit recipient's province, the guarantee beneficiary (creditor bank), personnel count, current ratio, real interest rate, and economic growth rate.

Based on the neural network model, the best models were extracted with three methods Bayesian, Levenberg, and Conjugate Gradient, and with one to 30 neurons in the hidden layer. The best model with all independent variables (i.e., 69 independent variables) was predicted with 96.2% accuracy, which is more than the Probit econometric model.

The findings of this research offer the capability to distinguish between customers with favorable and unfavorable credit profiles. Furthermore, the credit rating of customers can be used as a basis for adjusting the collateral requirements for each customer group, thereby aligning the collateral amount with the creditworthiness of the respective groups. This means that if the customer is one of the customers with good credit and a good credit rating, less collateral can be obtained from them, and if the customer has higher credit risk, more collateral can be used as a guarantee of the repayment obligation. In this case, while measuring the credit risk and separating customers, it is possible to manage the risk and the credit portfolio of the Export Guarantee Fund of Iran optimally.

The objective of this paper is to examine the welfare cost of inflation in the context of Iran's economy, incorporating labor market frictions (search theory) within a monetary general equilibrium model. The model also features a cash-in-advance constraint. To achieve this goal, through the utilization of calibration and sensitivity analysis in the steady state, the findings indicate that both employment and production are contingent on the elasticity of labor supply and the elasticity of vacancies in job matches. Depending on these two parameters, they may exhibit an increase in response to an escalation in the inflation rate. Additionally, the three-month optimal inflation rate in a stable state is determined to be 4.66%. The welfare gains, derived from reducing the three-month inflation rate from its current level of 5.3% to the optimal rate in a steady state, is calculated to be 0.0031% of total consumption. Therefore, based on the results, it is suggested that in inflation reduction policies, the effects of this reduction on welfare are taken into consideration, and special attention should be paid to the area of business investment by giving tax incentives, especially tax credits.

Foreign trade and its relationship with economic growth is one of the most controversial topics, especially in the selection of development strategies in developing countries, and there is still no agreement among economists on how trade policies and full employment can be related. Also, the trade liberalization program as a process of reforming foreign trade policies is the basis for international competitiveness and the participation of countries in economic activities. Of course, in the course of this program, activities that do not have a good competitive ability will lose the possibility to continue working. For this purpose, the welfare effects of foreign trade policy reform on full employment in the period 1380 to 1397 through the method of autoregressive model with interruption A distribution has been investigated. The results showed that trade liberalization has a significant effect on employment by applying the policies of eliminating or reducing tariffs and increasing imports in the short term.

Numerous studies have been conducted on the effects of financial development on the economies of countries. But so , The present study, considering the problem of inhomogeneity using the Granger Markov Switching causality approach, investigates the nonlinear causal relationship between the size and financial depth of the financial sector and economic growth in Iran during the period 1352-1399. Value-added variables of the financial sector as a percentage of GDP as a variable of the size of the financial sector and the ratio of loans granted by the banking system to government and non-government to GDP as an indicator of independent financial depth Findings of this study show that in regime one (during 1362-1399), there is a two-way causal relationship between economic growth and financial size. Whereas in the zero regime, there was a one-way causal relationship from economic growth to financial one. Also, the findings of the study in examining the relationship between economic growth and financial development index, show that in the zero regime (during the years 1387-1387) there is a one-way causal relationship from financial depth to economic growth. While in the first regime no causal relationship was found between the two variables

Currently, imposing carbon tariffs is criticized as one of the factors limiting trade between countries. Considering the importance of dealing with climate change and the interest of countries in imposing climate policies such as imposing carbon tariffs, the present research evaluates the effects of imposing this policy under four scenarios of imposing carbon tariffs by the European Union, Japan, the United States of America and all regions. It has studied the production and trade in Iran’s target industries using the environment-oriented general equilibrium model of the Global Trade Analysis Project (GTAP-E). In this regard, the 141 countries and regions and 65 sectors in the GTAP10 data have been divided into 5 regions and 9 sectors according to the purpose of the research. The estimation of the model using RunGtap software shows that imposing the carbon tariff on energy intensive industries in Iran. According to the results of this study, in order to maintain and develop the export markets of energy-intensive industries, it is necessary to adopt the necessary measures to decarbonize the production process of the aforementioned industries, including the use of new technologies, incentive policies, and carbon pricing. Key words: carbon tariff, energy industries on Iran, production, trade, GTAP-E model.

Recently emerged in recent years, blockchain technology is a new form of data and service organization encrypting and exchanging all kinds of data by creating a new system of data validation. It is efficient for a group of people who do not trust each other but looking for integration and cooperation in a coherent decision-making process willing to find a common platform to share information. In the case of blockchain in terms of economics and economics of welfare, a question will be raised as to what will be the impact of such technology on the welfare of society. And whether it will necessarily have positive welfare effects due to its advantage. To answer this question, we will provide a competitive market modeling in two cases, with and without blockchain technology in the market (supply chain), which indicates that the welfare effects of the blockchain are generally positive, however, due to new costs imposed on manufacturers, it doesn’t necessarily increase total welfare. The result may be influenced by the type of market, and under oligopoly or perfect competition marker conditions, social welfare may increase.

The purpose of this study is to examine the relationship between corporate governance and capital formation using the financial development channel. According to the investigations, it was found that the direct impact of corporate governance on capital formation is unclear. The analysis of the data showed that corporate governance through the financial development channel can have an effect on capital formation, which, of course, is different in countries, and the reason for that is the different level of development of countries in attracting capital and investors. In this study, the data of 98 countries, including 67 countries in which investor protection is strong and 31 countries in which investor protection is weak during the years 2005-2020, were used in the form of Panel-GMM method. The results of the surveys showed that corporate governance in countries with a low level of investor protection has a positive and significant effect on capital formation, and improving corporate governance improves capital formation. But this relationship has not been significant for countries with a high level of investor protection. Also, financial development in both groups of countries had a positive and significant impact on capital formation, but its impact was greater in countries with weak support. Also, the results of the financial development survey in more detail showed that the financial development of markets improves capital formation in countries; But the financial development of institutions does not affect the improvement of capital formation.

The negative consequences of financial crises require the attention of economic policymakers and decision making centers.Therefore, considering the importance of the subject, the present study has investigated the effects of global financial crises on the trade patterns of Iran and its partners during the years 1995-2018.The variables have been estimated in the framework of the gravity model using the pseudo poisson maximum likelihood method.The findings show that the Asian financial crisis (1997) has an effective role in reducing the volume of trade but this result is the opposite in relation to the American financial crisis (2007) ; Because instead of a threat, it has become an opportunity for the movement of business flows. In this situation, it seems that the difference in the intensity and type of impact of financial crises on trade patterns can be affected by the nature of the crisis or the region where the crisis started.

There have been many studies on economic sanctions and the effectiveness of these sanctions. In these studies, the sanction variable treats as one or two dummy variables (binary), to indicate at most four levels (no sanctions-mild sanctions-severe sanctions-comprehensive sanctions). Studying the effectiveness of economic sanctions requires recognizing the extent and severity of sanctions in various sectors, so it is not possible to examine the effectiveness of sanctions and any review of economic sanctions independent of the severity and extent of sanctions. To this end, in this article, we present the severity of sanctions imposed on the energy sector to a variable between zero to five to provide a better indicator to understand the pressure of economic sanctions imposed on the energy sector of Iran. We examine the effectiveness of sanctions by entering the sanctions severity variable on Iran's foreign trade with five major trading partners, including Germany, China, India, United Arab Emirates, and Turkey, based on the gravity equation through an interactive dummy variable method. We tried to present all the sanctions imposed on Iran's energy sector, between 1992 and 2018. The results show a significant and negative effect of the intensity of energy sector sanctions on Iran's foreign trade. China and UAE have the lowest response to sanctions on Iran’s Energy sector. Also, the highest reduction of trade with Iran due to energy sector sanctions is dedicated to India and Germany.

Bank controllers and regulators have always focused on bank capital and capital adequacy rate as two important factors for sustaining and improving banking activities. In this research, we have tried to investigate the role of capital and the relations between the banking sector with the economic real variables. We also sought to study the impact of bank capital on the real sector of an economy, using the DSGE model. Accordingly, in this model, to comply with the facts of Iran's economy, we defined the capital adequacy rate based on Basel I and II standards and took into account the probability of default for the loans and facilities of the banks and firms endogenously. Meantime, since the banking sector plays a crucial role in the country’s economy, we tried to examine the relations between the banks and Iran Central Bank (CBI) as the regulator within Iran's economic ecosystem.

To examine the actions and reactions of key dynamics of the Iranian banking sector with the economic real variables, we used Dynamic Stochastics General Equilibrium (DSGE) model, by using quarterly modified data during 1996-2019.

The results of simulating the model in response to the bank capital increase and oil positive shock on the defined variables proved the designed model to be highly consistent with the theoretical expectations and the past experiences of Iran's economy. Furthermore, it was found that due to the increase in oil price and the positive balance of payment because of the increase in the oil income, bank loans could be increased. Therefore, by improving economic variables temporarily, oil positive shock would result in a decrease in the probability of default in banks, whilst increasing their profits. The results also indicated that the bank capital can be considered a key factor for evaluating real variables in Iran's economy by the CBI, so the increase in bank income would temporarily end in a decrease in GDP, because of different factors, including the cost of bank finance and the loan rate.

It can be concluded that capital plays an important role in the bank transition mechanism to society and the Central Bank can also play an important role in the process through applying the needed changes in the capital adequacy rate. Nevertheless, as the increase in the capital adequacy rate in the long term would decrease risk and improve banking activities, it would affect real variables during the transition period. Furthermore, any increase in liquidity and bank loans would decrease the real interest rates, affecting the economic variables positively. In addition, the effects of any increase in oil income can be shown in bank profit. Therefore, oil shock changes can be generalized to other economic real variables.

The present study, in the form of a state-dependent model and during the period 2001:6-2019:12, investigates which of the components of monetary aggregates has the greatest impact on real exchange rate volatility of Iran. In order to achieve this goal, the variables of money, quasi-money, liquidity and monetary base are considered as monetary aggregates and in order to avoid multicollinearity between monetary aggregates, four Markov Switching Exponential GARCH models with fixed transition probability are estimated. The findings of the study also indicate that in both low and high regimes of real exchange rate volatility, monetary aggregates have a positive and significant effect on real exchange rate volatility and the effect of monetary aggregates in low regime of real exchange rate volatility is different from the high regime, so monetary variables have an asymmetric effect on real exchange rate volatility. In addition, in both the low and high regimes of real exchange rate volatility, the monetary base had a greater effect on real exchange rate volatility than other components of monetary aggregates. Therefore, controlling the components of monetary aggregates, given the importance of each in the up and down state of real exchange rate regime, can be considered as a strategic point by economic policymakers.

The economy of many countries around the world is now dependent on commercial activities in ports. Although ports are considered among the most important transportation infrastructures that can greatly affect economic growth, less attention is paid to ports and their relevant commercial activities in Iran. This study used the mixed-data method to address this issue by reviewing the data related to Khuzestan, Bushehr, Hormozgan, Sistan and Baluchestan, Guilan, and Mazandaran provinces of Iran in the period 2005-2017. The results showed that the operating capacity of ports exhibited a significant and positive effect on the economic production of the studied provinces. In addition, the uploading and offloading volume showed a significant but nonlinear effect on the economic production of hosts. In other words, the economic production increased with the increase in the operating capacity of ports but further increase in the operating capacity beyond the critical point negatively affected economic production. The study findings also indicated that human development, economic growth rate at the beginning of the studied period, employment, government investment in ports, government’s working budget, technology, manufacturing structures, and urbanization rate had positive and significant effects on the economic production of the studied provinces.

This article examines the nonlinear effect of inflation on Iran's economic growth. So far, many studies have been conducted on Iran's economic growth in which different estimation methods have been used. The dependent variable of this research is GDP per capita as an indicator of economic growth and the variables of inflation rate, investment, labor force, oil export revenue and government expenditures have been used as explanatory variables. In the present study, the effect of inflation rate on Iran's economic growth has been investigated asymmetrically using the nonlinear distribution interrupt (NARDL) model with a boundary approach. The research period is 1989 to 1397 and the data are annual. The results of the boundary test indicate the existence of a long-term relationship between the research variables. Investment variables and government expenditures have positive and significant effects, labor has a negative and significant effect, and oil export earnings do not have a significant effect on economic growth. Also, negative changes in inflation have a negative and significant effect, while positive changes in inflation are meaningless, and thus the asymmetric effects of inflation on Iran's economic growth are revealed.

Because of the sanctions imposed on Iran and the reduction of foreign exchange earnings, the capital market has undergone significant changes. This study tries to provide the transition mechanism of foreign exchange crisis on the stock market and compare with other emerging countries. In order to obtain the results, using the monthly data of the period of 2009:01–2020:03 and using the nonlinear Markov switching approach. For this purpose, among the various modes of Markov switching model, MSIAH (2) –VAR (2) has been selected. The empirical findings of the study show that only in a regime with high fluctuations, the increase in the exchange rate has increased the stock index while the stock index has no impact on the exchange rate. In addition, the results indicate that the sustainability of the stock index in the regime with the low fluctuations (first regime) was more than that of the regime with the high fluctuations (second regime).

The exchange rate is one of the most important macroeconomic variables, and how it affects other economic variables, including GDP, is one of the most important challenges in macroeconomics, especially in the last few decades, industrialized and developing countries. The purpose of this study is to investigate the factors affecting the GDP of selected countries by emphasizing the role of exchange rates with the ARDL-PMG approach. The results indicate that in developed countries and developing countries in the long run the exchange rate Real has a negative and significant effect on GDP. On the other hand, the variables of physical capital accumulation, government spending, the degree of openness of the economy and liquidity have a positive effect on GDP. In this regard, the variable of physical capital accumulation has had the highest positive impact on GDP in both developing and developed countries. At the same time, the negative effect of exchange rates on GDP in developing countries is greater than in developed countries. Therefore, according to the results of this study, economic risks in developing countries are higher than developed countries.

Investment is one of the main component of aggregate demand in economy which plays a crucial role in the economic fluctuations and economic growth of each country So economist and policymakers focused on interpret of Investment behavior. One of the most important factors in the decision to invest in both domestic and foreign investment is the existence of a secure environment.in other words, the most important factors is the proper investment environment and what has been interpreted as the ease of doing business. The main goal of this study is to investigate the effect of indicators of ease of doing business and domestic investment on foreign direct investment in selected countries. For this purpose, based on the division of the World Bank, four groups of countries are considered by their income level, including low-income countries, lower middle-income countries, upper middle-income countries and high-income countries, and the effect of domestic investment and indicators of ease of doing business have been evaluated using a Panel data model. The result shows that the level of development of countries and their income influences the magnitude and effect of domestic private investment and indicators ease of doing business on FDI. In a low-income, lower middle income and high-income countries, the effect of investment on foreign direct investment is positive, and in the upper middle countries, this has a negative effect. Meanwhile, the effect of each indicator of ease of doing business on foreign investment varies depending on the income level of countries.

Exchange rate fluctuations and its deviation from the equilibrium path is one of the most important macroeconomic variables that affects different sectors of the economy from various aspects.

This study was conducted with the aim of investigating the effect of foreign exchange policies during the existence of a trade deficit in the financial crisis (crisis of 2008) on the total index of the stock exchange.

The present study was conducted using ARDL and VCEM approaches in terms of purpose, application and development. This study examines the relationship between exchange rates (as a control policy to reduce the current account deficit due to the 2008 crisis) and the overall index. Examines the Iranian Stock Exchange. To reduce the effect of the omitted potential variable, interest rates and external reserves are also included in this analysis. In this study, the self-return approach with distributive interrupt (Pesaran, 2001) has been used to investigate the long-run relationship between variables.       

Among the actions of governments in times of crises and deficits in the current account balance is the use of foreign exchange controls. Explaining the effects of the exchange rate due to the dependence of the stock market industries on the import of raw materials as well as the export of products on the overall index of the stock exchange is very important for policymakers and activists in this field.                                                                                                                                      

The results indicate that there is more compatibility between exchange rates and stock prices in critical periods than in quiet periods, in terms of integration in the long run and short-term causality. Also, the results of the implementation of foreign exchange policies, in order to improve the current account, confirm the J-curve.

Based on studies conducted at the international, regional and national levels, this study identifies the factors affecting the productivity growth of all factors of production. Since the growth of productivity of all factors of production provides arrangements that ultimately increase the well-being of individuals in a society, such a study can be of great importance in advancing the convergence literature. To achieve this goal, a review of studies conducted in recent decades, it is necessary to distinguish between two categories of medium-term and long-term factors. Long-term variables are commonly known as the fundamental factors of growth in the economic literature and include such things as institutions, geography and trade. Mark similar items. Although this study is more of an overview of the medium-term factors affecting the productivity growth of total factors of production, but due to the complexity between these two categories of factors, the study of both is somewhat inevitable.

The general policies of the resistance economy aim to support development, dynamicity, and improvement of resistance economy indexes in order to achieve the 20-year development plan. This is issued through a flexible, opportunistic, and generative approach. The instability of economy can have irreparable consequences, resulting in instable periods in the macro-economy and banking system of the country. This manifests itself through increasing inflation, high bank interest rate, increased inter-banking loan interest, among others. It is evident that the developed and developing economies consider prudential macro-policies. Financial regulations in banks could be studied at three levels: 1. Regulatory rules concerning the establishment and activities in a country, 2. Regulations enacted by the administrative cabinet, 3. Prudential level which investigates the legality of development banks. Considering the different roles, aims, and performances of the development banks from commercial ones, one can suggest that one of the main necessities of these types of banks is to analyze the regulatory rules controlling them. Therefore, this study employs a descriptive-practical method to answer the following two questions: 1. From a theoretical perspective, should development banks be controlled through prudential regulations? Does Bazel agreement provide a proper framework for the development banks? If so, what are their challenges? The findings indicated that rather than enforcing prudential regulations, the development banks need to be controlled by the supervisor of the sector in order to achieve their aims. So far as the second question is concerned, after analyzing three Bazel agreements, it was found that the second agreement was more flexible, welcomed by most of the development banks around the world. The results concerning the third Bazel agreement showed that some of the requirements are not problematic for the development banks, such as cash risk treatment; however, some others are concerning.