Investigating Iran's Economy Using a Macro-Econometric Model from Islamic Economic perspective

Nowadays, the attention to Islamic economics has grown as a special approach and discourse in the field of economics, and Islamic economists emphasize this approach to theorizing Economic issues. The results of this approach can play a prominent role in the economic policies of Muslim countries. The review of recent economic literature, especially institutional economics, shows that today's economic literature emphasizes the impact of the economics of countries by cultural and religious components. In this paper, the effect of Islamic economic indicators on Iran's economic growth rate has been studied using dynamic simulation method. For this purpose, a macro-econometric model for Iran economy has been designed to measure the impact of Islamic economic indicators on a number of macroeconomic variables. After estimating the related equations using the Auto Regressive Distributed Lag method for the period 1963-1393, the validity of the specified macro model was measured. The results of single equations as well as the simulation power test of the specified macro model indicated the positive effect of Islamic economic indicators on the economic growth rate of Iran.