javad harati

The impact of public debt on economic growth is recognized as one of the important issues in economic analysis. . Therefore, in the present study, using the annual data of 128 selected countries and the Panel Smooth Transition Regression (PSTR) model, an attempt has been made to investigate the threshold impact of the country risk index on the impact of public debt on economic growth in four separate models over time. 2018-1996 .the findings indicate that, there is a significant nonlinear relationship between public debt and economic growth. However, the estimated models with transmission variables of political risk and composite risk in both regimes indicate that the public debt have had a positive effect on economic growth. Moreover, in the models with the transmission variables of financial risk and economic risk, the impact of the general debt on economic growth was negative and positive respectively in the first and second regime.

Profitability is one of the most important indicators of bankschr('39') performance. Therefore, studying the state of profitability of the banking system and the factors affecting it is of particular importance. The main purpose of this study was to investigate the effect of various factors on the profitability of active commercial banks in the banking system of Iran during the period of 1384-1388 using a dynamic panel model (GMM), on three indicators of return on equity (ROA), return on equity (ROE) ) and net income income (NIM). The general results of estimated models indicate that financial leverage variables and asset growth rate have a negative and significant effect on the return on asset and return on equity, and has a positive effect on net interest margin. GDP growth rates, Repo, Slope of yield curve and Hirschman Harpindal Index have a positive and significant effect on the return on Asset and return on equity, and have a negative effect on net interest margin. But the impact of the Hirschman Harpindal Index on equity returns is meaningless.

Corruption is a historical and global phenomenon, which exists in both developed and developing countries. Various cultural, social, economic and political factors affect corruption. Among these, security of property rights and democracy influence financial corruption. In this study, using a panel data system and generalized least squares method, the interactive effects of democracy and security of property rights on corruption are examined in 59 selected developed and developing countries during 2005-2014. The findings of estimations with various indicators of democracy (Polity2, FH, and Political Rights) show that whereas protection of property rights reduces corruption in any political environment, the presence of democracy in society cannot reduce corruption alone. Democracy should be accompanied by high levels of security of property rights in order to affect financial corruption negatively. In addition, while protecting property rights reduces corruption in any political environment, it is more effective against corruption at high levels of democracy.

Money laundering is an illegal practice that legitimizes the income from illegal activities during a legitimate process.Trade-based money laundering (TBML) as one of the newest and most complicated types of money laundering has negative effects on economic, social and political aspect of a society.The most important objective of the present study is to investigate the effect of various factors on trade based money laundering in Iran using the Ferwerda Gravity model.For this purpose the effective factors on trade base money laundering between iran and some selected trade partners are investigated by the use of a random effect model during the period 1999-2012. The results indicate that a great significant part of the trade based money laundering flow between Iran and selected trade partners can be explained by the the Ferwerda Gravity model. Accordingly, gorss doimestic product(GDP), trade volume, geographical, cultural, population and attractiveness variables have a significant effect on the amount of trade based money laundering in Iran.This means that with the increase in trade flow, money laundering opportunities resulted from the trade channel, that is hidden in it, will also increase. These results can be used by policy makers for designing policies to combat money laundering particularly coming from trade channel.

Swimming is a sport that requires a considerable strength, endurance, mobility and stability of the upper body. Therefore, the aim of this study was to compare the effects of dry-land and in-water core stability training programs on swimmers’ upper body balance and performance.
The available statistical sample of this study included 28 swimmers from city of Sabzevar who were divided randomly into three groups of dry-land (10 swimmers), in-water (10swimmers) and control (8 swimmers). Data analysis was done by split-plot ANOVA to compare intra- and inter-group variables and Bonferroni post-hoc test was also utilized to compare group means within two groups.
The results showed that four-week core stability exercises on dry-land led to 50m swimming time improvements as well as upper body balance of dominant and non-dominant limbs. There was no significant improvement in 50m for dry-land group and no significant improvement in stroke rate for both experimental groups.
Based on the findings of this study, it is suggested that coaches and swimmers utilize exercises used in this study in order to improve upper body balance as well as swimming performance in their training program.

This study investigates the relationship between quality of environment and democracy among different countries over the period of 2002 - 2012. Democracy and accumulated democracy indices have been considered as political inequality variables influencing the quality of the environment among different countries in the reduced form of Kuznets’ environmental curve (EKC) hypotheses model. The empirical analysis is conducted using four panel data sets for countries with different HDI from 2002 to 2012. The results indicate a significant positive relationship between the level of democracy and capital accumulation of democracy among all country groups. This relationship in group of countries with high human development index acts in form of N reversed which is the environmental Kuznets curve. This relationship in groups of countries with high, medium and low human development indices is in form of N. Based on the results, improvement of democracy indices leads to a better environment quality. Therefore, applying the relevant policies with democracy condition improvement in different countries, specifically in countries with low and medium human development indices, can make a positive impact on improving the quality of environment in these countries.

Energy, one of the most essential and important factors of production and the final product, has an important role in the growth and economic development. This research examines the dynamic relationship between financial development and energy consumption based on GMM estimation in 53 developing countries and 47 advanced countries over the period 2000-2014. The results showed the positive impact of direct foreign investment and national income on energy consumption in the two groups of countries. Energy prices had a completely opposite effect on energy consumption in developing and advanced countries. The results also indicated that in both developed and advanced countries the money market plays a more effective role in reducing energy consumption in comparison with the capital markets. While the effect of financial development through the money market on energy consumption is U- inverse shape in both groups of countries, this effect through the capital market is U-shape and U-shape inverse for developing countries and advanced countries, respectively. These results might have important policy implications for energy management policymakers and authorities to achieve sustainable development in different countries.

In this paper, the effect of government intervention in the banking sector (financial repression) on banks’ financial stability is investigated during 2001-2013. To measure the index of government intervention in the banking sector, three variables including real interest rate, credits directed by banks and government debt to banks are combined using principal component analysis. Furthermore, the z-score index is applied to measure the financial stability in the banks. Data are extracted from balance sheets and income statements of the banks. Results from a panel of 14 banks show that the intervention of government in the banking sector is of significantly negative effect on financial stability of these banks and therefore increases their financial vulnerability. Moreover, an increase in size of bank improves the financial stability, but higher debt-to-asset ratio increases the banks’ financial vulnerability.

Health has an important impact on economic growth through increasing the ability of the national human resources. Health promotion leads to healthier and more productive people. Also, proper health and well-being will improve labor ability, which will subsequently lead to higher production and economic growth. One of the important issues facing the governments is the share of health expenditure allocated to the health sector. This paper uses the estimation of simultaneous equations in the framework of panel data models and through the use of instrumental variables and the two-stage least squares method (G2SLS) to investigate the relationship between government health expenditures and economic growth in selected countries of the MENA region during 1995-2014. The results indicate the effect of government health expenditures on economic growth and vice-versa in the selected countries. The results of the study can be used in designing growth policies and improving human capital.

Nowadays, advertising is one of the most  important tools for increasing demand and profit in planning of products and condification of marketing strategies. The main purpose of this study is investigating and prices on demands and profits of Iran's textile and garment industry using a panel model. therfor, annual data from 1995 to 2007 for the 12 four-digit code, is used in the sub-sectors of textile and garment industry.The results of estimation of Dorfman-Steiner model indicate a positive and meaninigful impact of advertising expenditures, prior period revenue and demand and negative impact of price index on the demand for textile and garment industry.The price of elasticity of demand and income indicates that the industry  is very necessary in consumption basket of Iranian's household. The results of estimation of Chamberlain profit model suggest a positive relationship between benefit and advertising expenditures.Thus, the increasing of advertising expenditure, causes the profitability progress with modest rate. This result is important due to planning and condifiying marketing strategies for active firms.

Monetary Policy is one of the important instruments of the economic demand management and is much important in policy making decisions. In this direction, determination the rule of monetary policy making and discretion of expansionary and contractionary monetary policies are also important for policy makers and economists. In this study, the monetary conditions index (MCI) over the period 1352-91 and financial conditions index (FCI) over the period 1377-91 calculated using the Principal Component Analysis for Iran's economy. According to the results, the monetary conditions index impact any 3 channel exchange rate, interest rate and credit channel. Also in the calculation of index financial conditions, in addition to the the above channel 3, also has its effect channel Finance. Credit channel has the greatest weight in both financial and monetary conditions index, while the interest rate channel of the lowest weight than the 3 other channels in both the index, implying that credit channel is more important than the other channels in determining the level of output in Iran.

Environmental quality is affected by many factors such as economic and political inequality. The main purpose of this article is to investigate the effects of income and political inequality on the environment quality in the selected countries. Using the Generalized Method of Moments (GMM), the effects of gini coefficient, democracy index and income per capita, energy consumption and human development index on environmental quality are estimated for 57 countries during the period 2000 to 2012. The results show that income inequality and Political inequality significantly had a negative effect on environment quality. While the energy consumption has the negative effect on the quality of environment, improvement in human development index and the income per capita have a positive effect on the quality of environment. This finding might has important policy implication for policymakers and authorities to achieve sustainable development in different countries.

In 1980s many countries to finance their spending,used internal resources, especially bank credits. Government spending financing by non-bank was used in low level, because capital markets had not formed or were not strong in most countries and also financial assets were not available. After World War II and the effectiveness of US aid to Europe, several articles were written about the impact foreign aid. Some theories believe that foreign aid such as loans, block grants can provide economic growth, but increased lending to developing countries in the 1970s and followed debt crisis in 1982 quesioned the impact of external debt on economic growth.
According to International Debt Statistics published by the International Bank for Reconstruction and Development in 2015, total external debt of developing countries is about 5506 billion dollars, which Iran's share is 7647 million dollars . According to the report, China is the largest debtor among developing countries so that the external debt of this country is about 874 billion dollars. China's external debt in 2013 has increased more than 6 times than 2000.
One of the main challenges which most developing countries facing, is ways of financing the budget deficit and its impact on economic growth in these countries. Choosing financing instruments, especially liabilities are important for rapid economic development and being aware of the impact of these policies on macroeconomic variables is very important. How to finance the budget deficit is the key to financial sector reform. The purpose of this study was to estimate the effects of external debt, budget deficits and exports on economic growth in developing countries. For this purpose,panel data for the period 2003-2013 and GMM estimation method have been used.
Theoretical frame work: In general, there are three views to the use of external resources. The first view is theories that consider external sources important for growth and economic development. This view suggests that developing countries are known poor economies in terms of low savings and capital and low investment. In fact, developing countries because of low saving rate can not finance expenditures related to depreciation and replacement of capital goods. As a result, for such countries, external resources are critical to reach ideal economic growth. The second view includes theories that foreign aid is not essential for growth and development. Bauer and Yamey (1989) believe: "For developing countries, foreign aid is not necessary or sufficient for liberation from poverty, but it is possible to grow and develop without foreign aid if necessary conditions are provided and economic and social projects are done. Also if these conditions are not provide, economic development is not possible, even with the presence of foreign aid and foreign resources will be wasted ".The third view includes those views which know foreign unsufficient condition for economic growth, but believe that proper management of external debt, provides the possibility economic growth and development. The management includes allocated loans to the production of export goods and prevents the losses of received aid and so on (Gharabaghi, 1993).
Theoretical models about growth and foreign aid includes two gap patterns, Griffin theory, model three gaps and overhang hypothesis. Before the two-gap model, growth patterns often proposed based on the savings gap, But Chenery & Bruno (1962) showed savings gap is not the only limiting factor. Griffin (1970) by statistical analysis revealed that only 25 percent of the external debt is allocated to growth activities. In the other words , 75% foreign loans taken for consumption expenditures. One of the main criticisms about the two gap pattern was that received foreign loans apart from the savings and exchange gap may be due fiscal gap and budget deficit reduction. So third limitation was introduced for the growth, was the limitation of public financing gap. Bacha (1990) suggests that the economy could fill three gaps savings, foreign exchange and Budget deficit by external sources and enter the growth path. One of the main channels which external debt impact on economic growth through it, is Debt overhang (Krugman, 1988; Sachs, 1989). Large debt burden is an obstacle to investment, because investors expect return on investment reduce due to foreign creditors.
In this study, the model Jayaraman & Liu (2009) is used: That, RGDP represents real production as a numerical index, ED real external debt (GDP%), EXP real exports of goods and services (GDP%), BD real budget deficit (GDP%) and ε random error term. consumer price index (CPI) is used for real nominal variables. In this study the generalized method of moment's (GMM) is used to estimate the model. GMM estimator is developed by Arellano & Bond (1991) and Arellano & Bover (1995). Gmm estimation method used the two sets of cross-sectional data and time series data. The method can solve the endogeneity problems between explanatory variables. In this method, dependent variable is added to the equation with a lag as an explanatory variable (Abrishami et al., 2006). To solve the correlation between the lagged dependent variable and the error term, lag variables are used as instruments in GMM. Also consistent estimators of GMM, depends on the validity of the instruments used. To test this, the use of statistics proposed by Arellano & Bond (1991) and Arellano & Bover (1995), which is called Sargan test and validate the instruments used to measure (Yavari, et al.2010).
Based on the results, the total external debt and budget deficits have negative impact on economic growth so that one percent increase in the total external debt reduced economic growth by 0.7%. Also increase one percent in the budget deficit reduced economic growth 0.035%. While exports have a positive impact on economic growth so that one percent increases in exports increase economic growth 0.21%.
In the second model, short-term external debt has positive effects, but long-term external debt has a negative impact on economic growth. So that a one percent increase in short-term external debt, increases economic growth 0.032% and with an increase in long-term external debt, reduces economic growth of 0.12%. Budget deficit has a negative impact on economic growth, while exports had a positive effect, as a one percent increase in budget deficit, reduced economic growth 0.005% and a one percent increase in exports increased 0.24%.
Also estimated results for the two groups of countries: countries with upper-middle per capita income and lower-middle and lower-income countries , have been reflected. According to estimates, total external debt in both countries has a negative impact. While short-term external debt has positive impact on economic growth, but long-term external debt has negative impact on economic growth. Budget deficit and exports in countries with low and lower-middle income have positive impact on economic growth, while the upper-middle income countries have negative effects.
Conclusions & Suggestions: The results show that, long-term external debt and budget deficit have significant negative effects on economic growth in developing countries. However, exports and short-term external debt have positive impact on economic growth in developing countries. While the external debt is divided into 2 groups: short-term and long-term external debt, the results show that short-term external debt have positive impact on economic growth but long -term external debt have negative impact on economic growth. However, the budget deficit is a negative impact on economic growth but exports have positive impact n economic growth. According to the results, measures to reduce long-term external debt should be taken in developing countries and prevent the adoption of long-term debt or long-term debt become short-term debt. Also, due to the positive impact of exports on economic

Export as the engine of economic growth plays a key role in the global economy and is considered as the survival factor of countries in the global markets. Investigation of modern international trade models to identify the effective factors in the international trade is necessary for the expansion of global trade. In the present article, using the gravity model and panel data, the researchers examined the factors affecting Iran's export during the period of 2000- 2012. The countries under study were classified into two groups based on their geography and their level of development. The results of the estimated models with the dynamic ordinary least squares approach (DOLS) showed that Iran's export could be explained by the significant portion of factors included in the gravity model. Furthermore, the results are different with respect to geography and their level of development of business partners. The findings can potentially and practically pave the way for the important implications to design the trade policies and are of use to the authorities in Iran.

This article analyzes the welfare loss of pollution resulting from production in Iranian economy using an augmented growth model and designing an economic-ecological system dynamics model. The main elements of the model include social welfare، welfare loss، production، physical and human capital accumulation، pollution accumulation، income distribution، and initial conditions. Regarding 2005 as a base year، the time path of per capita pollution and related welfare loss are simulated for the Iranian economy over the 20-year time horizon. The simulation results indicate that with persistence of the status quo، per capita pollution and its welfare loss rise with positive rate. Therefore، the goals of sustainable development will not be achievable. Hence، further improvement of the environment requires government intervention through the appropriate policies. The results of sensitivity analysis of policy parameters show that clean technology diffusion and environmental preferences of producers have negative effects on pollution emissions per capita and economic welfare in Iran، while strengthening environmental preferences of consumers may raise the social welfare loss of pollution. In addition، pollution per capita and its welfare loss are of most sensitivity to environmental preferences of producers، environmental preferences of consumers and clean technology diffusion، respectively. Policy-makers may regard these results in planning to achieve sustainable development objectives.

Phytic acid is the dominant form of phosphorous in plant seeds. However, phytic acid cannot be utilized by animals and causes them serious phosphate deficiency. Utilization of phytase as an animal feed additive can affect liberation of phosphor and its mineral availability. In this study, heterologous expression of the A. niger phyA gene was investigated in the methylotrophic yeasts P. pastoris and H.polymorpha and its expressed active recombinant phytase biochemical and biophysical properties were studies and compared to native A.niger phytase. The phyA gene sequence of A.niger was designed and expression of synthetic genes was highly successfully in active form in both yeast hosts. Size of the secreted recombinant phytases, due to heavy glycosylation, varied from 50 to 65 KDa. Expressed extracellular recombinant phytase samples were purified and biochemical tests on properties demonstrated that both recombinant phytase samples had similar pH profiles with pH optima determinations of pH 2.5, pH.5.5 as acidphosphatase and optimum temperature of 60 and 50 °C respectively in P. pastoris and H.polymorpha. This study concludes that recombinant P. pastoris and H. polymorpha phytases could fulfil a series of predefined industrial quality criteria for application as animal feed supplement.

This paper uses the growth model of Stokey (1998) extended by Deng and Huang (2009) to examine the dynamic relationship between output and environmental pollution in Iran. After solving the model and deriving the necessary conditions for sustainable growth path, the model is used to examine the presence of Environmental Kuznets Curve (EKC) for Iran. Using MATLAB software, the model is calibrated for the Iranian economy for the period 1959-2008. This allows us to find optimal paths for key variables. The result shows that that the Iranian economy is not on its optimal sustainable growth path. Moreover, simulation results indicate that there is a positive relationship between income per capita and CO2 per capita over time. Hence, we might claim that the Iranian economy is probably on its early stage of growth. In other words, Iran might still be on the negative part of EKC. In addition, our simulation result shows that there will be a threshold level for per capita income in which the quality of environment starts improving after this point. Hence, one might conclude that the EKC might be true for Iran.

Phytase is able to change phytic acid into the myo-inositiol and inorganic phosphate، so it has been used as a cereal food additive in monogastric animal’s food. The aim of this study was to eamine cloning، expression and culture optimization of gene encoding Aspergillus niger NRRL3135 phytase in Hansenula polymorpha host. In this study، in order to achieve high level production of protein، the sSequence of protein encoding fangal Aspergillus niger NRRL3135 phytase was designed according to the expression cod on usage of Hansenula polymorpha and transformation was done. The enzyme specific activity in different cultures was survived. The results in flask culture showed that the recombinant phytase production was 1185 U/L with 34. 84 U/mg specific activities in YNB-Methanol culture. Results indicate YP-methanol culture is the efficient culture to produce Aspergillus niger NRRL3135 phytase in Hansenula polymorpha as a host on industrial scale

In this paper the effect of government size on social welfare (HDI) with using of time series data in period 1990-2006 in 52 countries as well as, a panel model is investigated. Human development index (HDI) is calculated with average of three indices: Life Expectancy Index, Education Index and GDP Index. In addition, two variables of government consumption expenditures as a share of GDP and government investment expenditures as a share of GDP for calculating variable of size of government are used. The impact government consumption and investment expenditures on the HDI with using of two separate equations and a panel model with fixed effects are estimated. Results suggested that government consumption and investment expenditure has a positive and significant effect on the HDI, but it reduced over time. In addition, the impact of a change in government investment expenditures takes longer to be fully realized than does the impact of a change in government consumption expenditures, such that half of the full impact of a change in government consumption expenditures on HDI is realized within 2.06 years, and half of the full impact of a change in government investment expenditures is realized within 2.15 years.

This study aims at determining the optimal environmental tax policy in the context of a dynamic model. For this purpose, clean technology diffusion was added to the AK growth model and the theoretical model has been generalized to the open economy. The main feature of the economy is creating pollution in the process of economic growth and its negative impact on social welfare. The diffusion of clean technology reduces pollution emission and has a positive effect on environmental quality and social welfare. The Hamiltonian solution of the model indicates that the steady state growth rate and optimal tax pollution is affected by the consumer preference toward consumption and environmental quality, pollution elasticity with respect to production, clean technology diffusion, foreign growth rate, inverse elasticity of intertemporal substitution, depreciation rate of capital and trade parameters. The results show that the optimal tax rate in Iranian economy is about 15 percent. Furthermore, sensitivity analysis shows that the emission elasticity of pollution subject to the production and environmental preference parameters have larger impacts on optimal tax rate than foreign growth rate and trade parameters.

The purpose of this paper is to study the impact of macroeconomic variables on food price index in the Iranian economy for the period 1959-2000. An auto-regressive distributed lag (ARDL) model is used for this purpose. The results indicate that monetary expansion and the depreciation of real exchange rate have a positive impact on food price index but an increase in the degree of openness of the economy will reduce food prices with no determinate relationship between food price index and food production and per capital income in the long run. Except for the relationship between food production and food price index which is negative in the short run, the results are similar to that of the long run. The error correction model is indicative of a relatively rapid adjustment of short run disequilibrium towards the long run equilibrium.