نشریه توسعه و سرمایه
سال هفتم شماره 1 (پیاپی 12، بهار و تابستان 1401)

Experience of countries with different institutional structures shows that they achieved different development goals. This phenomenon is doubly important in countries with natural resources, such as oil. There are differences in the theoretical and experimental results of the effects of the abundance of natural resources on the growth rate of a developing economy. While some oil-exporting countries have high economic growth, in others implementation of development policies has not only strengthened economic growth, but also further problems such as inadequate resource allocation, increased consumption, waste of resources, economic corruption, government budget imbalances occurred. oil revenues in high institutional quality countries controlled by the macroeconomic structure; however, in countries with low institutional quality, it destroys the macroeconomic structure, which occurs in the turmoil of important economic variables.This article seeks to investigate the two-way effect of economically significant variables and institutional variables on each other. In this regard, first, a macroeconomic model for a developing country that exports a product introduced, and then this model modified based on theoretical considerations and the main features of the Iranian economy. Given that, economic freedom is a good indicator for measuring the institutional quality of countries, it used as an alternative to institutional framework. The economic freedom index of the Fraser Institute implemented as an endogenous institutional variable in the model. 

This study is based on the analysis of time series data for the period of 1972-2020 in Iran. The fact that improving income in a country may improve institutions internalizes the institutional structure, leading to measurement error, inverse causality, and false correlation, and will distort the model estimation. In such a condition, appropriate econometric methods must be implemented to eliminate these problems. One of the suitable econometric methods to reduce the problem of endogenousity of institutional indicators and correlations between institutional variables and other explanatory variables is GMM (Generalize Method of Moments), which implemented in this article. The model has seven main equations for different economic sectors and sub-indexes of Economic freedom implemented in different equations based on the compatibility with that equation. 

Consumption function estimation shows that past consumption level has a large effect on current consumption, which confirms the effect of consumption function gears. The positive relationship between consumption and interest rates shows that an increase in interest rates, increases consumption, which is a result of the increasing inflation in the country. The institutional index of healthy (stable) money includes liquidity growth, freedom of ownership of foreign currencies, current inflation rate and inflation change in the last five years and has had a negative effect on consumption. in the investment equation, size of government, national income and interest rates had the greatest impact on investment, respectively. The negative exchange rate coefficient is due to the relationship between the exchange rate and investment, which can be attributed to the fact that in oil-rich countries such as Iran, the bulk of imported capital goods and rising exchange rates make capital goods more expensive and reduce investment. In the export function, foreign income has the greatest effect and a significant relationship between exports and relative prices confirmed. In this equation, the effect of the institutional variable is significant, which confirms the researcher's views. According to the results, low export price elasticity and high export revenue elasticity in Iran can be justified. Because Iran's main export is oil, which mostly influenced by the level of production and income of other countries, and due to the exogenous mechanism of determining international oil price, is not dependent on changes in the country's exchange rate.In the import equation, national income has the greatest effect, and the income elasticity of imports indicates the country's strong dependence on imported goods and the considerable volume of essential goods and services in the country's imports. The effect of oil revenue in the model is significant but its sign is contrary to expectations, as it shows that despite the decline in oil revenue, imports have increased. This evidence suggests that Iran has not been able to implement an import substitution strategy. The positive effect of the institutional variable on imports shows that with the improvement of the foreign trade freedom situation, the country's imports increase.In the production function, the institutional variable of property rights was not significant, but the institutional variable of laws and regulations had an effect on national production, which shows the direct effect of improving the status of laws and regulations and reducing bureaucracy on increasing production. The ratio of imports to capital accumulation has had a positive effect on the level of production, which confirms the results of estimating the import function based on the high share of essential goods in the country's imports.In the money demand function, an increase in national income has increased liquidity, which explains the larger monetary sector compared to the real sector. Increasing oil revenues also increase the volume of liquidity. The institutional variable of government expenditure is marked in agreement with the theory. Changes in the institutional variable of healthy (stable) money also increase the volume of liquidity. It is empheasized again that one of the components of the healthy money index is inflation in recent years, which has not been favorable in Iran and has increased liquidity. The designed institutional function is able to explain the institutional changes of the, and the sign of all coefficients agrees the expected sign. The increase in national income improves the country's institutions, while the increase in other variables such as government size, oil revenue, liquidity volume and inflation has destroyed the country's institutional situation, which government size and inflation have had the greatest impact on the institutional situation. 

Estimation of institutional function also shows that increasing national income has improved the country's institutions, while increasing other variables such as government size; oil revenue; liquidity and inflation have destroyed the country's institutional situation. Meanwhile improving the quality of institutions leads to an increase in national production and reduces the volume of liquidity.

The purpose of this article is to investigate and explain the amount of attention paid to the selected economic components and its analysis in the content of selected official education books of the elementary school in Iran (including document content analysis).In the country of Iran, all textbooks in the formal education system are prepared and adjusted based on the document on the new development of the education system, which is an abstract of the national document and all the upper documents set in the strategic plan of education in the whole country.The main question of the research that pursues the goal is: Is there enough attention paid to selected economic areas and components in the contents of selected primary school textbooks (which are written based on the guidelines of the fundamental transformation document or upstream documents) in a way which can be a generator of wealth and create economic growth and prosperity in the country in the future by influencing the thinking and behavior of students?Sub questions.In the content of selected elementary school books (academic year 97-98), which of the educational fields (knowledge, attitude, skill) has been given more attention?In the contents of the selected elementary school books (academic year 97-98), which of the selected economic components has been given more attention? 

The selection of these components is based on the theoretical foundations of classical economics in the description of "rational man" and the theory of Inkels in the description of "modern man" and includes the most important components of achieving development. The statistical population includes 10 volumes of books selected from the elementary school, whose reliability and face validity have been checked and confirmed by experts. Analytical research community: In this research, a total of 10 volumes of elementary school books were examined as follows:- All Persian primary school books in all grades.- All elementary school social studies books in all grades.- Sixth grade thinking and research.Based on the theoretical foundations related to the modern human being and with emphasis on the three areas of knowledge, attitude and skills, a set of economic components were extracted and then their formal and conceptual validity and their suitability with the subject of the article were calculated by several experts. In order to carry out content analysis, the initial 25 components were converted and divided into sub-components or selected objective and behavioral economic manifestations, and in this way, a content verification checklist was formed transparently and operationally. It should be noted that in the text of the books (statistical society), the following components have been investigated and counted, either openly, or the themes that have been mentioned. Some of these components are: giving importance to material life, importance to increasing productivity and efficiency and finding new ways of doing things, a sense of patriotism as a motivation to advance society, opposition to traditions that are against development, belief in human power. In overcoming nature and going through the steps of progress towards progress regularly and continuously, and... 

The results of the research count showed that only about 3.4 percent (7463 words out of 219069 words) of the total words counted in these books are dedicated to selected economic components. According to the obtained results and in response to the first sub-question of the research (in the contents of the selected primary school books, which of the educational fields has been given more attention?), it can be said: The most attention has been given to the attitudinal area and the least amount of attention to the knowledge area.And in response to the second sub-question of the research (in the contents of the selected primary school books, which of the selected economic characteristics has been given more attention?), it should be said: in all the selected primary school books, the patriotism component with 19 frequency has the highest rate and the resource value component with 1 frequency have the lowest number of counts (Table 2).Finally, according to the analysis of the results obtained from this research and in response to the main question, is the content of the selected primary school textbooks sufficiently focused on the selected economic areas and components, in such a way that it can influence thinking in the future? And the behavior of the students will generate wealth and create economic growth and prosperity in the country? 

The results of this study indicate little attention to the selected economic components in selected primary school textbooks.

With the spread of the global coronavirus and the loss of traditional businesses, many businesses around the world have focused on selling and providing their services online. Digikala Company is also trying to provide services to all compatriots throughout Iran, as in previous waves of the epidemic. The purpose of this study is to investigate the impact of pandemic on the business of Digikala Company and its modeling.

The statistical population of this research is large-scale retail companies in Iran, and Digikala Company has been selected as one of the most important retail companies in Iran as a statistical sample using available sampling method. The data collection of the research variables has been done based on the performance of the Digikala company during the Corona era. Statistical data analysis is done using SPSS26 software. In the inferential statistics section, one-sample t-test using the bootstrap method is used. The bootstrap method is used when the sample size is very small and the distribution of the data is not clear (Farbad et al., 2019) and also from the two-sample t-test to compare the components of e-commerce identified, which include the components of demand and human resources, sales center and volume. Transactions before and after Corona, the Friedman test, which is a non-parametric test, is used to rank the components. The validity of the proposed e-commerce model of DigiKala company is checked using the method of variance-oriented structural equations or partial least squares, which is based on the bootstrap method, in SMARTPLS3.3.3 software.

A one- sample  Bootstrap t-test was used to identify the factors affecting e-commerce in this company and a conceptual model including operating force absorption, processing, sales centers and the number of transactions of goods affecting e-commerce was proposed. The validity and reliability of the model were confirmed by combined Cronbach's alpha criteria, mean of variance square and convergence validity. Finally, the number 0.89 for the goodness index confirmed the adequacy fit of the proposed model.

Due to the corona epidemic conditions, online businesses such as Digikala Company, by considering the influential variables in e-commerce, have succeeded in attracting more power, higher transaction and more revenue in this field, which the research also shows that Is the subject. Structures affecting e-commerce in Digikala during the Corona era along with the impact of the influencing variables were identified and evaluated using the t-test and Friedman's test using the bootstrap method. Finally, according to the highest importance factor, the structure of the sales center was prioritized. After identifying the components, the validity and reliability of the proposed model was checked by the variance-based structural equation test, so that the goodness of fit criterion confirmed the appropriate fit of the model, and the root mean common variance and composite reliability indicators confirmed the validity and reliability of the model.Due to the damage of Corona to businesses, many companies have been forced to downsize their organization and reduce and adjust their human resources, but according to the research conceptual model and the variables examined in the research of many large internet businesses in the world. Like Amazon and Ebay, and including the Digikala company, have prospered in Iran, so that they have faced the increasing demand from their customers.Therefore, to meet the needs of its customers, Digikala not only did not reduce the workforce, but also had to recruit and recruit human resources; On the other hand, due to this increase in the volume of demand, the company has increased its relationship with the sales centers in order to supply its customers' goods and send them, this has caused the amount of financial transactions of this company to grow dramatically, in such a way that it is forced to develop and to expand its hardware and software infrastructures. that the analyzes carried out also show this importance.Considering the current conditions of the society and the increasing growth of technology in the global arena, for further investigation in the future, in addition to the above variables, we can examine other variables such as: the level of access of people in the society to computers or smart systems, the level of Internet literacy of the society (web and related software), the effect of internet speed, the variety of services and products, speeding up transportation, examining the competitive advantage of the company in the field of online payment business, and according to the findings and results of the analysis, solutions and suggestions for prosperity and improvement and provided the development of this organization. It is also suggested that the variable of Internet access and other variables forming demand can be proposed in future studies as variables of new research and as innovation of the model.

Governments need financial resources to play their role in the economy and to produce and supply public goods. One of the most efficient sources of finance in the public sector economy is taxation. Taxes are doubly important in developing countries, which are always short of physical and economic infrastructure. However, government revenue sources or the share of taxes in total public revenues vary from country to country, depending on their level of development and economic structure. But tax evasion is seen as a sharp drop in government revenue that discourages the government from providing current public services due to a reduction in government revenue from public revenue.Tax evasion refers to any illegal attempt to evade taxes. Numerous factors affect tax evasion. One of the most important factors is public sector policies. Therefore, in this study, using the data panel regression method, the effect of public sector policies on tax evasion in Iran and selected emerging countries in the period 2000-2020 has been studied.Governments need financial resources to play their role in the economy and to produce and supply public goods.Governments need financial resources to play their role in the economy and in the production and supply of public goods. One of the most efficient sources of finance in the public sector economy is taxation. one of the most effective sources of finance in a public sector economy is taxation. 

In this study, the effect of public sector policies on tax evasion in Iran and in selected emerging countries in the period 2000 to 2020 has been studied. The conceptual model of the research is as follows, in which tax evasion depends on variables related to government (rule of law, open markets, size of government and quality of legislation), tax modi (religious beliefs) and tax organization (public sector governance). Thus, in this study, the regression model of research has been used by modifying the model of Islam et al (2020) and considering the effect of the degree of development of countries on tax evasion. Unemployment, per capita income and government expenditure based on the study of Rezagholizadeh et al (2019) and value added of the agricultural sector based on the study of Ziyatbar Ahmadi and Karimi Petanlar (2019) are included in the research model. Also, the effect of property rights, the quality of public sector governance and the variable of religion based on the research of Islam et al (2020) were considered as explanatory variables in the model. To estimate the model, the dynamic data panel method is used and first the research regression model is proposed and then how to measure its variables is presented. In the following, the data related to the model are extracted from the new Rahavard software and the desired model is estimated using Eviews 9.0 software. Before estimating the model, the static variables of the model are checked using unit root tests. Because if the model variables are anonymous, the estimated regressions are fake and have lower reliability. If the data were consistent, there would be no problem in the model estimation process. But if the data are anonymous, the aggregation between the model variables should be examined to study the existence or absence of an equilibrium and long-term relationship between the model variables.

The results of model estimation show that the effect of property rights on tax evasion is negative and significant and the guarantee of personal property by the government has reduced the rate of tax evasion. In addition, the rule of law has a significant negative impact on tax evasion. Because the rule of law is high, it increases people's confidence in the strict implementation of laws, especially tax laws, and reduces the possibility of tax evasion. Per capita income has a positive and significant effect on tax evasion. Because with the increase in income, since the tax system in most countries is exponential, the amount of taxes paid by individuals will increase and their motivation for tax evasion will be higher. The effect of government spending on tax evasion is positive, but it is not statistically significant at the 5% level. In addition, at a significance level of 5%, the religion variable has a significant negative effect on fiscal taxation. In other words, the high Muslim population compared to the total population of a country, due to the illegality and illegality of tax evasion in Islam, has a negative impact on tax evasion in that country. Unemployment rate is another variable that has a positive effect on tax evasion and this effect has been statistically significant at a significance level of 5%. Because high unemployment reduces income and their willingness to pay taxes. The quality of public sector governance (rule of law) also has a negative and significant effect on tax evasion. Because the high rule of law gives economic agents the assurance that the laws enacted in the country (including tax laws) are properly implemented and in case of violation (including tax evasion of the economic agent), he will be fined. The variable of economic freedom also has a negative and significant effect on the rate of tax evasion. For example, a high level of monetary freedom (low level of inflation) has a significant negative effect on the tax rate.

High property rights and the rule of law in the period 2000-2020 have reduced tax evasion in the studied countries. Property rights and the rule of law as two effective tools in public sector governance have a negative impact on tax evasion. More monetary freedom and freedom of investment as the two basic pillars of economic freedom, means low levels of inflation and ease of capital inflow into the country and has a negative impact on tax evasion. People in developed countries have less incentive to evade taxes for fear of punishment or for using quality health, education and public transport services. These results confirm the findings of Sameti et al (2021) and Blory et al (2021). Therefore, the government should improve the business environment in the economy and reduce the possibility of tax evasion by strengthening institutions, increasing the rule of law and imposing appropriate penalties for violating the law, defining and guaranteeing property rights and respecting private property. In addition, due to the positive impact of inflation and unemployment on tax evasion, the government and monetary institution by implementing active monetary and fiscal policies, increase production and economic growth (reduce unemployment) and control inflation. Property rights and the rule of law as two effective tools in public sector governance have a negative impact on tax evasion. Property rights and the rule of law as two effective tools in governing the public sector have a negative impact on tax evasion. More monetary freedom and freedom of investment as the two basic pillars of economic freedom, means low levels of inflation and ease of capital inflow into the country and has a negative impact on tax evasion. More monetary freedom and freedom of investment as the two basic pillars of economic freedom, means low inflation and ease of capital inflow into the country and has a negative impact on tax evasion. These results confirm the findings of Sameti et al. (2021) and Blory et al. (2021). These results confirm the findings of the study of Sameti et al. (2021) and Blori et al. (2021). Therefore, the government should improve the business environment in the economy and reduce the possibility of tax evasion by strengthening institutions, increasing the rule of law and imposing appropriate penalties for violating the law, defining and guaranteeing property rights and respecting private property.Therefore, the government should improve the business environment in the economy and reduce the possibility of tax evasion by strengthening institutions, increasing the rule of law and imposing appropriate sanctions in accordance with the law, defining and guaranteeing property rights and respecting private property. Property rights and the rule of law as two effective tools in public sector governance have a negative impact on tax evasion. Property rights and the rule of law as two effective tools in governing the public sector have a negative impact on tax evasion.Therefore, the government should improve the business environment in the economy and reduce the possibility of tax evasion by strengthening institutions, increasing the rule of law and imposing appropriate penalties for violating the law, defining and guaranteeing property rights and respecting private property. Therefore, the government should improve the business environment in the economy and reduce the possibility of tax evasion by strengthening institutions, increasing the rule of law and imposing appropriate sanctions in accordance with the law, defining and guaranteeing property rights and respecting private property.

One of the main issues discussed in the behavioral financial paradigm is the herd behavior of investors. Herd behavior indicates a situation in which investors, regardless of personal information and analysis, follow other investors. This study investigate the effect of investor sentiment on herd behavior formation with beta herding approach in Tehran Stock Exchange. In other worlds, the purpose of this article is to examine whether investors decision making in Tehran Stock Exchange based on fundamental variables or market performance. Although this phenomenon may be considered logical from an individual point of view, but from a macro perspective, it can have destructive effects such as bubbles, price crashes, sharp price fluctuations, and as a result, distorted equilibrium relations and market inefficiencies. Huang and Salmon (2001) scientifically studied this phenomenon by presenting a model called beta herding. They believe that the simultaneous attention of investors to market returns causes the return of individual stocks to biased towards market returns, and as a result, the stock beta coefficient is close to the market beta coefficient. This study uses a beta herding method to investigate the effect of market sentiment on the probability of herd behavior in the Tehran Stock Exchange. In other words, this study examines whether investors in the Tehran Stock Exchange make decisions based on fundamental variables, or trade by ignoring these variables and being affected by market performance. This study also examines whether the stock beta coefficient affects the impact of market performance on investor decisions?

The theoretical basis of this article is the information cascades theory. According to this theory, when investors observe a flow of information, review information and personal analysis according to the existing flow of information. Since paying attention to market returns instead of fundamental variables disturbs the equilibrium relations in the market, so applying a CAPM-based approach can be used to identify and analyze herd behavior. This approach that founded by Huang and Salmon (2009) herding behavior is analyzed by basing the CAPM equilibrium relationship and examining market influence on this relationship. Based on the herd beta approach, the cross-sectional variance of betas can be considered as a measure of the impact of market returns on investors' decisions. This means that the more investors pay attention to the market factor in their decisions, the smaller the cross-sectional deviation of betas will be. Therefore, the smaller cross-sectional deviation of betas can indicate the presence of herd behavior of investors. Since the herd behavior of investors in following the market returns, causes the stock beta to be biased, so the following relationship can be established between  and . (Huang and Salmon, 2009):Which  is the equilibrium beta and   is the biased beta. The above relationship can be rewritten as follows:The significance of   statistic as the slope of the line in the above relationship indicates the effect of market returns on investors' decisions and the formation of herd behavior. In order to investigate the effect of beta coefficient on the severity of the effect of stock returns from market returns, the following equation has been used:In above equation, the dependent variable is difference between low beta portfolio return (  with high beta portfolio return (  and herd behavior criterion  is the independent variable. Also h is used as a lag, which in this study is assumed to be equal to 1. Negative and significant  as the coefficient of  (cross-sectional deviation of estimated betas ( ) in above relation means that stocks with high and low beta coefficient react the same to market returns. Conversely, positive and significant  means that stocks with high and low beta coefficients do not show the same reaction to market returns, or in other words, stocks with low beta coefficients are more affected by market returns than stocks with high beta coefficients. Also  as a measure of monthly herd behavior is calculated by deviating from the standard  according to the following equation (Huang and Salmon, 2009):This research has been done for a period of 120 months, (from March 1, 2009 to the end of March 2018). The statistical population of this research consists of all companies listed on the Tehran Stock Exchange, which are filtered according to the following conditions:The first transaction on their stocks has been done since the beginning of 2009 or before- Have not been removed from the list of listed companies during the research period--There is no long-term suspension (more than six months) in trading on their stocks.Applying the above conditions, 112 companies remained to be surveyed, which were surveyed without sampling.

By conducting this research, we found that investors' sense of market return has a significant effect on the occurrence of herding behavior by them in the Tehran stock exchange. This means that in a boom market, investor demand for all stocks (even the stocks of weak and loss-making companies) has increased, which in turn raises prices and, consequently, returns all stocks. Conversely, in a recession condition, investor demand for all stocks (even of profitable stocks and strong companies) decreases, which reduces the price of these stocks and thus their returns. This finding is consistent with the findings of Huang and Salmon (2009) and (2013). In addition, we found in this study that the impact of stocks with large and small beta coefficients on market returns is not the same. This means that as investors become more affected by market returns, the gap between stock returns with high beta and stocks with low beta increases. In other words, stocks with lower beta coefficients are more affected by market returns than stocks with high beta coefficients. This finding is also consistent with the results of Huang and Salmon (2009) and (2013).

In this study, the effect of investors' perception of the market on the price of individual securities in the Tehran Stock Exchange was examined. We found that investors' sense of the market influences their investment decisions. Being influenced by market performance means that investors in their investment decisions ignore the impact of fundamental variables on the price of securities and pay more attention to the overall performance of the market. Considering the general market trend and ignoring the main variables affecting the company's profitability leads to the formation of the phenomenon of herd behavior. This phenomenon is more visible in the case of small beta stocks. It is obvious that ignoring the fundamental variables can lead to unequilibrium in market and ultimately market inefficiency. Encouraging to indirect investment, such as mutual funds, can greatly prevent such undesirable phenomenon. Introducing with financial analysis in trading can also prevent such phenomena in the market.

According to studies, one of the main determinants of economic growth and development is social capital, which has different components. One of the main components of social capital is "trust", which is an essential aspect of economic and social relations. Trust means as a positive expectation that the other party will not act opportunistically in their speech, actions and decisions. The result of some researches shows the difference between countries in terms of their industrial structure depends more on the level of their social capital than on the level of their developmental level, i.e., the degree of trust of individuals in one society to another and their participation in the formation of civic groups and associations. Emphasizing the importance of the role of trust in economic growth and to answer the question of whether the trust index in developing countries affects economic growth in a similar way to developed countries, the main purpose of this study is to show the trust index on economic growth in the two-selected groups of developed and developing countries in the period 2009-2019. 

To achieve this goal in this study, the trust index was first extracted from the World Value Survey. Then, to investigate the relationship between trust and innovation with economic growth in two selected groups of developed and developing countries, the two-stage Generalized Method of Moments (GMM) model has been used for dynamic panel data. Applying the GMM method has some advantages such as considering individual non homogeneous and more information, eliminating the biases in cross-sectional regressions. For a more detailed study of these indicators in addition to other effective control variables that are considered as factors affecting the economic growth and development of countries, are also added to the regression equation.  Delayed variables of GDP at real price, fixed capital formation, human development index, consumer inflation rate, innovation index, number of labor force, economic freedom index and trade openness index along with confidence index have been added to the model. The statistical population of the present study includes 26 developing countries including: Islamic Republic of Iran, Belarus, Brazil, Colombia, Ecuador, Egypt, Guatemala, Indonesia, Iraq, Jordan, Kazakhstan, Kyrgyzstan, Lebanon, Malaysia, Mexico, Nigeria, Pakistan, Peru, Philippines, Russia, Serbia, Thailand, Tunisia, Turkey, Ukraine and Vietnam and 25 developed countries including: Argentina, Australia, Canada, Chile, Cyprus, Estonia, Finland, France, Germany, Hong Kong, China, Hungary, Italy, Japan , Korea, Netherlands, New Zealand, Norway, Poland, Romania, Singapore, Slovenia, Spain, Sweden, Switzerland and the United States from 2009 to 2019 (statistics are available by year). These countries were grouped based on the Human Development Index so that countries with a human development index higher than 0/8 in the group of developed countries and less than 0/8 in the group of developing countries. 

In both group of selected countries, the significance level of Sargan statistics is more than 0.05. At the 95% confidence level, the validity of the tools used in the estimation cannot be denied. So, the null hypothesis that the instruments of the disturbance are not correlated cannot be rejected. Therefore, it can be concluded that the instrumental variables used for estimation have the necessary validity. Also, the results show that all explanatory variables have unit root and the Kau test indicates a long-term relationship between variables and economic growth. According to the results, in countries with low levels of development, the variables related to the physical relations of production mainly affect economic growth. Also, the effect of the trust index on the economic growth of these countries is negative. In developed countries, as expected, the impact of the trust index on economic growth is positive. And for one percent increase in trust index, economic growth increases by 0.013 percent. The highest impact of the model variables on economic growth is related to the human development index, which will increase by 2.45% for one percent growth of this economic growth index. The positive impact of the lag of economic growth in both groups of developed and developing countries indicates that economic growth in these countries is subject to stable and long-term macroeconomic policies and requires forward-looking planning. According to theoretical expectations, by increasing the rate of fixed capital formation, labor force and economic freedom will lead to more economic growth in developed countries. 

According to the results, the trust index in the selected developed countries has a positive and significant effect on economic growth, but in the selected developing countries at a significant level of 90% has a negative effect on economic growth. This result shows that the developed countries have advantages due to the high level of trust in these countries: first, in result of trust, the communication and the transfer of information is done easily. Secondly, facilitating the transfer of information takes place in technological environments, which is one of the effective ways of trust category to solve the problem of information deficiency category of organizational learning. Finally, the problem of free riding is improved through group activities. But the inverse relationship between trust and economic growth in the selected developing countries can have two main reasons. First, the level of trust in economic policies in these countries is very low. Second, the issue of data quality is trust in these countries. Distrust, which is a form of formal and informal institutions in the economy that has always caused fear of partnership and cooperation between people, and people prefer distrust to avoid losses and limit their economic activities to the circle of friends and Their acquaintances do. One of policies that could develop trust level in developing countries is to increase institutional trust by improving the transparency and integrity of institutions. Another and even more important policy is related to educational programs in such a way that the main emphasis is shifted to the team working of students and strengthens cooperation between new generations. These policies are able to increase social capital and consequently public trust.

To achieve high levels of health, identifying the nature of health and also the factors affecting it have the most important role. If the factors threatening health and their importance are not identified, the measures taken to promote the health of the individual and society will be taken in an atmosphere of doubt. On the other hand, the limited resources of some countries (especially poor and needy countries) have been allocated over the years in a way that has only resulted in reduced health and increased mortality. Thus, such questions have always been asked by economists and policymakers: what factors can affect the level of life expectancy? And what is the role of the financial structure in this regard?Economists and policymakers have paid close attention to finding the optimal method and mechanism for promoting public health, and in recent years these efforts have had valuable effects on human health and well-being in many parts of the world. The level of increased life expectancy depends on how countries invest in improving social indicators such as health, education, retirement plans, health programs, food facilities, and improving the environment. The health status of people in the community is one of the things that health policy makers are always looking to improve. Life expectancy index is one of the components that shows the extent to which countries have achieved the goals of the health sector. The life expectancy variable is affected by several economic and social factors. In this regard, the present study intends to study the effect of factors affecting life expectancy with emphasis on financial structure.

Financial structure has important effects on life expectancy. These effects have been positive in some studies and negative in others. However, it is not possible to comment from the outset on the effects of financial structure on life expectancy. So the question is, what effect has the financial structure had on life expectancy in selected countries? To answer this question, the present study tries to use the combined data method to determine the effect of financial structure on life expectancy in selected Islamic countries (including: Iran, Turkey, Azerbaijan, Pakistan, Qatar, Oman, Bahrain, UAE). Study the United Arab Emirates, Saudi Arabia, Kuwait, Iraq, Jordan and Malaysia). In this research, data and information of selected countries in the period 2000-2020 have been extracted from the World Bank database and the research model has been estimated using the Cup-FM method.Although several methods have been proposed to examine the panel co-integration relationship between variables, most of these methods only discuss the existence or absence of the relationship and do not provide information about the co-integration vector. To address this shortcoming, several methods have been proposed, including the Cup-FM method. Bai and Cao (2006) proposed the Cup-FM method, which uses a factor structure to determine the source of the cross-sectional dependence and presents the aggregate vector. This method calculates the coefficient vector coefficients by estimating the parameters and the long-term covariance matrix and the factor loads in reverse. This estimator, like the FMOLS estimator, is resistant to successive autocorrelation bias and endogenous bias, and in addition, is indifferent to the meaning and anonymity of the explanatory variables.In this study, based on research experiences to investigate the effects of financial structure on life expectancy, the regression model used in Chireshe (2018) research has been modeled, so the model used in the leading research is as follows:Where LEit is life expectancy at birth, FSit is a variable of financial structure (loans to the private sector by the banking system as a percentage of GDP), Eit is energy consumption (kg equivalent of crude oil), PGDPit is GDP per capita and HEXPit  is health expenditure ( Percent of GDP). Uit is also a regression disorder about which the classical assumptions are true. All data related to the model variables can be extracted from the World Bank database and the research model estimation method in this article is the data panel method. 

According to the research results, the effect of GDP growth at a fixed price on life expectancy is positive and indicates that with increasing economic growth, people have been able to invest more in education, improve their nutritional conditions and health facilities. Better and use more. Hence, GDP growth has a positive effect on people's life expectancy. This effect is statistically significant at the significance level of 5%. The effect of credit granted to the private sector by the banking system as a percentage of GDP on life expectancy is positive and these effects are statistically significant at the level of 5%. Because people, especially low-income or middle-income people, have been able to use bank credits and improve their economic activities by improving the financial system. This in turn can increase the use of educational and health services by these people and increase their quality of life and life expectancy. In contrast, the effect of energy consumption on life expectancy at birth is negative and this effect is statistically significant at the level of 5%. Because energy consumption, especially in recent years, causes more greenhouse gas emissions and environmental pollution, which can have a negative impact on health and life expectancy. Also, the effect of health expenditures (as a percentage of GDP) on life expectancy is positive and this effect is statistically significant at the level of 5%. Because high health expenditures lead to more and better health and medical services in the country and increase people's life expectancy.

According to the research results, to achieve superior health status, the development of financial structure should be part of health policies and strategies in countries, and the goal of policies should be to deepen and expand the financial sector to ensure inclusive financial development.

To study the main and sub-influential factors affecting the performance of banks in order to form the financial stability of the national economy and on the other hand in improving the optimal management of the banking system is of great importance. In the studies and evaluations of IMF economists, it is generally believed that the factors affecting the optimal performance of the banking system in the long run have profound effects on the economies of countries, on the other hand, banks play an important role in achieving macroeconomic goals. And their proper and optimal performance, which act as the economic stimulus of the country, has a significant role in advancing the macroeconomic goals of countries and is considered one of the important indicators of economic growth that failure to pay attention to this issue can lead to disruption. The balance of domestic and foreign accounts of the country and affect the performance of banks, in this regard, the banks themselves face a variety of risks that the study of these factors is also a priority. In a way that forces them to react and be sensitive and take the necessary measures to improve their performance and exposes the use of solutions recommended by international economic organizations and indicators of related economic models. The purpose of this study was to investigate the financial performance of banks by identifying the effective indicators and their interaction and evaluating the effectiveness and mutual influence of the main and sub-criteria affecting the financial performance of banks operating in the stock market. Sensitivity to market risk) and their sub-criteria with emphasis on the devaluation of the national currency through the exchange rate position during the years 2015-2020.

Today, with the complexity of important economic issues and the importance of speed in reaching the answer, in addition to classical methods, new techniques that have grown significantly in recent years, to solve many of these issues by optimizing methods to solve many Unknowns are provided. Based on the research background and factors of Kamels model, the main indicators and sub-criteria affecting the financial performance of 18 banks active in Tehran Stock Exchange were identified and in this regard, six main indicators and twenty-three sub-criteria affecting the performance of the banking system were identified. In the next step, twenty-three sub-criteria in terms of weight importance are compared with the degree of interaction and their relative importance, and their prioritization is measured based on the relative importance of the factors and because factors and variables are not independent of each other. On the one hand, the combined multi-criteria decision-making techniques used by DEMATEL and ANP are known as DANP, which is a well-known tool used in recent years to address various MCDM issues such as performance appraisal and selection of management strategies. Has gone and also cause and effect relationships between factors have been investigated. Then, with the combined decision-making methods of Demetel multi-criteria and neural network process, interactive communications and their weighting coefficients are determined.

Among the results are the priority of 6 main factors including capital adequacy, asset management, management ability, income, liquidity management and risk sensitivity and 23 sub-factors of bank size criteria, total facilities, total assets, lending facilities and receivables. From non-governmental entities, total income, inactive assets, other deposits, participation bonds, cash and operating profit and loss with weight coefficients were of great importance. However, in terms of comparing interaction and relative importance coefficient, the main index of sensitivity to risk was in the first place, but it was much less important. Among the sub-criteria, national monetary value, operating expenses, liquidity risk and bank size were more interactive but less important. Therefore, it is very important to prioritize these important influential factors in the strategic plans and executive actions of banks. From the results of internal communication, it was found that the six main indicators in terms of weight importance are the priority of capital adequacy, asset management, management ability, total income, liquidity management and risk sensitivity, respectively, while in comparison with the degree of interaction and importance. Their relative influences include risk sensitivity, asset management, capital adequacy, management ability, total revenue, and liquidity management, respectively. Comparing the results, it was found that the weight of the risk sensitivity index in the banking system is significantly different from the relative importance of it. And increase banking risks, which will have a negative impact on the performance of banks, and in this case, the implementation of monetary policies with market operations to improve the performance and increase the volume of deposits in the banking sector will be provided.

The relationship between institutions and economic growth is one of the main issues in economic development debates and has been considered empirically in recent years. Hence, the main purpose of this paper is to investigate the effects of institutions and recourses management improvement on economic growth in D8 countries during the period of 1996-2019. 

For achieving this objective, the econometric model is estimated by applying PSTR method in panel data. 

The results of threshold estimation show that the threshold of good governance index is -0.67 and its effect on economic growth of Islamic developing countries before and after this value will be different. Since the value of good governance index in 8 developing Islamic countries is between -1.28 and -0.19, so it is expected that the estimated threshold is in the range between low and high. In addition, the value of the estimated threshold is in the neighborhood of its average value, -0.71. Moreover, the speed of transmission to the nonlinear section for these countries is 1.46. Furthermore, the good governance index in both regimes has a positive effect on economic growth, which, of course, increases its intensity by exceeding the threshold or entering the second regime or above average. It is expected that at high levels of governance (low levels of corruption and redundant regulations and political constraints and high levels of political stability and the rule of law and the effectiveness of government) where the quality of institutions is also high, all good governance components attract domestic and foreign investment, Accelerate economic growth rate.The impact of human capital in both regimes is positive. In this regard, it can be argued that when governance and the quality of institutions are low, the necessary investments in human resources are not take place in this group of countries. The coefficients of abundance of natural resources are positive in both regimes, and with the transition to high levels of good governance (the second regime), the intensity of its positive influence increases. In other words, with the improvement of the good governance index and its components, the effect of natural resource management on production and economic growth has also improved, while in the low state of the good governance index, the abundance of natural resources has had a small effect on economic growth. Therefore, the effect of improving natural resources at a high level of good governance on the economic growth of Islamic countries is significant. The FDI has positive and significant impact on the GDP growth rate in every linear and non-linear parts.So, in every regimes (linear and non-linear) good governance and natural resource abundance variables have positive and significant impacts on the economic growth and other explanatory variables such as gross capital formation, FDI and human capital have positive effects on GDP growth in every linear and nonlinear parts. 

in the high level of governance accompanied with low corruption, redundant rules, political constraints, all indices of good governance attract domestic and foreign investment and accelerate economic growth.

In recent years, "financial inclusion" has become a topic of interest for financial institutions, policymakers and researchers worldwide. This is due to the important role and position that financial inclusion can play in reducing poverty, inequality and improving the well-being of communities. Moreover, increased access to and use of financial products and services leads to increased resilience to financial and economic shocks and the empowerment of vulnerable groups such as women and villagers. This study investigates the effect of competition in the banking industry on financial inclusion. The findings of this study can lead to a better understanding of policy-making and planning in the banking sector to enhance financial inclusion.

In this study, the generalized method of Moments presented by Arellano and Bond (1991) has been used. It should be noted that one of the constant challenges in estimating econometric patterns is the possibility of false regression. Therefore, in the present study, Levin, Lin and Chou (2002) panel unit root tests were used to investigate the stationarity of variables. The data utilized in this study is related to 35 developing countries over the period 2004-2018. Due to the differences between data from different countries and with the aim of achieving a comparable benchmark between countries, the multidimensional indexing approach introduced by Sarma (2015) has been used to calculate the financial inclusion index. For measuring market power in banking industry, Learner index has been utilized. Other variables employed in this study, consisting of financial depth, private credit and gdp per capita. 

The results of this study indicated that increasing concentration (reducing competition) in the banking industry has a negative and significant effect on financial inclusion. Since this index is in the range of zero and one (the closer to one it indicates the existence of market power and monopoly in that industry), it can be said that in developing countries, due to the negative effect of reducing competition on financial inclusion, the greater the monopoly in the monetary and credit system, the less households have access to the money market and its formal alternatives to improve their financial and credit needs. In other words, increasing market power leads to a decrease in the supply of loans and an increase in interest rates, and as a result, reduces borrowers' access to credit, which in a way confirms the hypothesis of market power. 

In developing countries, due to the negative impact of declining competition on financial inclusion, the greater the monopoly on the monetary and credit system, the lower the household access to the money market and its formal alternatives to meet their financial and credit needs. The consequence of this process is the tendency of individuals to finance from informal sources, which also results in a reduction in financial inclusion in the economy. Based on this, it is suggested that banking policies and regulations be formulated in a way that can improve the financial inclusion situation and, consequently, its consequences on the main macroeconomic variables. Policies also need to consider the potential of using new technologies to improve financial inclusion. Moreover, it is suggested that financial inclusion in the upstream documents of the country be considered as a specific policy goal that requires the development of the National Financial Inclusion Strategy (NFIS). Also, in line with the main research question, it can be stated that, instead of restricting competition, it is necessary to design the structure of the banking industry in an open way that increases the possibility of more competition of banks.

The method of collecting information is library, which has been collected by using online resources and reviewing and viewing various articles, dissertations and books. The information used in this study is in the form of tabular data (2011-2016) from the national accounts statistics of the Statistics Center of Iran, the Central Bank, the World Bank, the World Information Technology Report, the United Nations Statistics Division and the IMF Global Economic Outlook Database. And the tenth version of the GTAP database is extracted.This study examines the effects of international institutional forces on the dissemination of B2B e-commerce during the period (2011-2016) and several control variables. This study is for Iran and the countries of Iran's major trading partners including 35 countries including Singapore, Sweden, Switzerland, Qatar, Oman, Saudi Arabia, UAE, USA, France, Japan, China, South Korea, Netherlands, Hong Kong, Azerbaijan, Germany, Australia, Belgium, Vietnam, Malaysia, Brazil, Spain, Kazakhstan, Russia, Italy, Turkey, Thailand, India, Tajikistan, Egypt, Pakistan, Canada, the United Kingdom and Iran and the rest of the world, including countries that trade in the two Side with Iran, they have a small role.

Research variables include the diffusion of B2B e-commerce, Coercion pressure from export dependence, Mimetic pressures from foreign competition, Normative pressure from global cohesive trade relationships, Internet access, economic development and global shared knowledge. The method of collecting information is the library, which has been collected by using online resources and reviewing and viewing various articles, dissertations and books. The analysis of relationships between variables is based on the modified GLS pattern in the form of composite data.

The results of the final estimation of the regression function showed that the acceptance of the dependent variable (B2B e-commerce dissemination) can affect some predictors such as complexity and dependence on exports, etc. In such a case, the endogenous variable may be related to the predictors. The diffusion of B2B e-commerce, Coercion pressure from export dependence, Mimetic pressures from foreign competition, Normative pressure from global cohesive trade relationships, Internet access, economic development and global shared knowledge has a positive and significant relationship with the diffusion of e-commerce expansion (dependent variable). 

Unlike previous research, which has focused primarily on national institutions to examine the dissemination of ICT-related innovations, this study provides insight into the mechanisms for the spread of B2B e-commerce technologies worldwide, showing that embedding in The modern global community is shifting local companies. Ways of using B2B e-commerce This study shows that the rationalization of B2B e-commerce at the national level is not simply the result of endogenous institutional frameworks on a national basis; Rather, it essentially reflects the institutional and business links with the more rational B2B e-commerce movements in the modern global community. This study links a country's move toward B2B e-commerce to the movement of its core counterparts around the world. The pressures imposed comply with the institutionalized rules in a country's network. Coherent trade relations between countries create normative patterns that facilitate the rationality and dissemination of B2B e-commerce. Similarly, the exchange of technical knowledge between experts from commercial countries is expanding B2B e-commerce. High levels of scientific and technical skills and a competitive environment are of particular importance. These factors have been shown to have a positive effect on the importer of B2B e-commerce technology as well as the country's capacity to attract it. Many countries are working to increase the spread of e-commerce technologies in their economies; So policymakers can use education systems to demonstrate the importance of B2B e-commerce. This will disseminate the required knowledge about related technologies. It also creates common norms among experts on the importance of B2B e-commerce in the country. Policymakers need to encourage policies that ensure greater transparency in global markets. Transparency in business relationships is an important source of new information, modern technology and best practices. The last major contributor is B2B e-commerce vendors to educate the community about the factors that are significantly associated with B2B e-commerce dissemination. With such information, they can develop more efficient and effective strategies for upgrading their B2B e-commerce software. For example, vendors need to target both leading companies and their affiliates around the world because they adopt B2B e-commerce at the same time. The proposed framework also addresses the role of market complexity and recognizes that the expansion of B2B e-commerce is also driven by efficiency incentives. Policymakers can ensure the right business environment to attract foreign technology transfers, including B2B e-commerce. For example, policymakers can improve the ICT infrastructure to facilitate companies' ability to respond to foreign technology transfers in their own countries.The pressure imposed by The Coercion pressure from export dependence has a positive and significant effect on the diffusion of e-commerce. In other words, with the increase of dependence on exports, the rate of diffusion of e-commerce increases. Internet access also has a positive and significant effect on the diffusion of e-commerce. Normative pressure from global cohesive trade relationships between countries have a positive effect on the diffusion of e-commerce. Mimetic pressures from foreign competition also have an impact on the diffusion of e-commerce and are significant. global shared knowledge also has a positive effect on the diffusion of e-commerce. The pressures imposed comply with the institutionalized rules in a country's network.

This study aims to model electricity cross border trade policy based on the network theory and to investigate the position and importance of West Asia community in the global electricity trade network. The cohesion in the electricity trade between countries will ensure the security of electricity supply and reduce costs. West Asia community is a group of countries in the network that includes Iran. 

For this purpose, the global network is constructed to examine the role of each node in the network for the time period of 2010-2018. Different communities are identified to proceed with the network analysis. We detect the communities based on the Louvain method as it has the large z-scores for all years and it’s an efficient algorithm. An innovative analysis is introduced; that is competitiveness to capture the competition intensity among electricity exporters. To capture the competition intensity between two electricity exporters, we use Glick and Rose (1999) suggested indicator. 

of this study clearly show the influence and necessity of Iran for stabilizing of the network within its community. Iran mostly has electricity trade with seven of its neighboring countries, which are Turkey, Pakistan, Iraq, Afghanistan, Turkmenistan, Azerbaijan and Armenia. Among them, Iran exports electricity to three countries, Afghanistan, Pakistan and Iraq, and conducts bilateral trade with four other partners.The results of the competition intensity suggest more interconnectedness among community members, and show Iran compete with Turkey, Azerbaijan and Russia on the regional market share. The competition intensity trend, extracted from the competition networks, escalated during the time period. Also Iran is a key node of its community in the competition networks. Finally, it is showed that electricity trade can be increased between Iran and other regional partners. Also based on all different kind of the centrality measures, Iran is the most important node in these networks. All in all, the competition intensity networks for the region, depict intense competition among the nodes, and especially Iran is considered to be the most central node, showing the highest competition relation with its partners. Turkey in the first years and Azerbaijan in the last years of the period are in second place in terms of the competition intensity (These extracted competition networks can be scrutinized in details that give researchers crucial information about the condition of export competition). 

Community of Iran usually consists of Iraq, Afghanistan, Pakistan, Tajikistan, and Uzbekistan, Turkey and Armenia. The position of Iran within its community has been scrutinized. For the first part, among all, community of Iran is in the middle ranking (for example, 8 and 10 among 16 and 15 communities in 2011 and 2018, respectively) based on the total weight. The share of weight of this community to the total trade, varies between 0.2% in 2015 to 14.7% in 2014. By conducting a measure for finding trade hubs in different communities, it’s been found Iran had the greatest score and considered to be the trade hub in west Asia region. Its score in some years puts it among top five trade hubs in whole network (for 4 years).There are eight main electricity importers from Iran. From this aspect, this importing markets have been examined to identify the rivals. In terms of Afghanistan, Iran has the second place after Uzbekistan. In case of Turkey, in the first half of the period, Iran is the biggest exporter, but it started to compete and give away its position to Bulgaria, Azerbaijan and Georgia. Armenia imports from just Iran and Georgia till 2015. The trend in trade of Azerbaijan is similar to Turkey. Iran is the biggest exporter in the first years, but Russia and Armenia gradually took the position. so as a summary, Iran in terms of export to Iraq, Pakistan and Turkmenistan has the dominant share in all years; but in other markets like Afghanistan, Armenia and Azerbaijan, it’s competing; and in Turkey it’s losing the competition. The results from competition measure support the real data.