نشریه اقتصاد دفاع و توسعه پایدار
پیاپی 27 (بهار 1402)

Capital markets which constitute one of most important financial mechanisms of every economy are composed of both private and public dimensions. On the one hand, these markets are private in the sense that private individuals in society can actively engage in trade on them, and on the other, they have a public dimension since they directly affect the overall economic order. The public aspect of these markets, because of its reliance on contracting mechanisms in general, and capital market contracts in particular, brings public security concerns in this field to the fore. The interventions of successive governments in the capital market, privatization policies, financial crises, sanctions as well as, the growing economic knowledge among various social strata, has added new dimensions to the traditional concept of security to include such things as economic security, Legal security, judicial security, etc. The aim of the present study is to present an efficient contracting model for capital markets that is effective in maintaining and promoting economic security. The methodology of the paper proceeds in three stages. It first uses the Meta Composition Method to identify the variables influencing capital market contracts. Subsequently, it draws on the Content Analysis Method to identify the variables that affect the development and maintenance of economic security and presents them via Structural Equations to obtain a quantitative model. Finally, it utilizes the Interpretive Structural Modeling Method to develop a model of the variables influencing capital market contracts, in terms of its development and the maintenance of economic security. The quantitative data was gathered was through interviews with managers and experts with experience in the field of capital market. Based on the results obtained, components such as organizational factors, economic factors, and innovation influence capital market contracts. Furthermore, these three components, in addition to having a mutual effect on one another, are influenced by governance.

Economic interactions between the countries forming the axis of resistance have led to the formation of a new order in the geometry of the region. This can both counter the threats posed by the ISIS, as well as preventing the growth of the geopolitical influence of the enemies of the Islamic Republic and their aligned countries in the region. However, the strengthening of the interactions between the resistance axis countries and the alignment of other potential partners with this axis, requires strategic planning to prevent the collapse of this alliance, as well as deepening motivations for cooperation. The objective of this article is to propose geo-economic strategies for utilizing opportunities presented by electricity transactions in the region. This strategy can strengthen the strategic alliance between axis of resistance countries through plans which provide the foundation for industrial growth and development in the region, and are thus beneficial to all neighboring countries, thereby, taking a step towards meeting the geostrategic goals of the of axis of resistance. The research method of this article is based on conducting interviews with a panel of experts. The results indicate that with the establishment of an electricity grid between these countries, the Islamic Republic of Iran will be responsible for supplying a part of the electricity needed by allies, and in return it can receive strategic agricultural or ore products.

In recent years, with the intensification of Western sanctions against the Islamic Republic of Iran which aim to end Iran's peaceful nuclear program, the term " Economic Resilience " has been the subject of discussion within the Iranian economic literature. One of the most important policies of the economic resilience concerns the diversification of export products and destinations through the provision of cohesive support for the export of goods and services (based on their added value) with the aim of achieving a net positive currency gain. This subject is also of interest within economic development literature with respect to debates surrounding the degree of diversity and specialization in the structure of production and trade. In line with these discussions, the objective of the present study is to examine the factors affecting the diversification of export goods and destinations, in accordance with economy resilience policies. To achieve this aim, this study examines the aforementioned factors during the period time 1350-1394 using the system of simultaneous equations and the GMM method. To investigate the effect of macroeconomic instability on export diversification, the paper constructs an index of exchange rate and inflation factors it into the model based on ARCH and GARCH patterns. The results of this study indicate that macroeconomic instability and gross domestic product have respectively, positive, and negative effects on the diversification of export goods and destinations. Furthermore, the paper finds that the governance of organizational institutions has a negative effect on diversification, while sanctions have a positive effect on diversification of export goods and destinations. The paper concludes with finding that sanctions and instability of the macroeconomic variables have created bottlenecks for production and increased restrictions which has in turn led to the diversification of export goods and destinations of Iran.

The sudden fluctuations of Iranian stock market at the end of 2018 and the first half of 2019 are among the most important economic events that have left a lasting impact on the historical psyche of Iranians and could have led to deepening political dissatisfaction and insecurity. In this framework, the objective of the present study is to determine the relationship between the developments in the capital market during 2019 and the security of the country. In particular, the paper examines the hypothesis that ‘insofar as general trend in the capital market influence the improvement of financial indicators, they will constructively affect national security and economic situation’. In order to examine this hypothesis, the paper employs the Qualitative Method of Thematic Analysis and utilizes maxqoda software. The findings of this study indicate that increasing public willingness to participate in the stock market in hope of gaining profit, the deep entanglements between national security of Iran and the economic situation which is affected by  performance of the stock market, the excessive and unnecessary government interventions in the capital market, the immanent necessity for increasing transparency of the stock market, the strong influence of financial rent seeking on the functioning of the stock market, the lack of expertise and awareness of small and medium investors concerning emerging trends in the stock market, low public trust in the stock market and the low legitimacy of the government, provide the ground for the intensification of protest movements at the political and social levels.

Since the end of the Cold War, the United States and its Western allies have established and dominated the geometry of power in the world through various political and economic institutions. However, the increasing influence of emerging powers such as Russia and China have challenged the sovereignty of the West and the dominance of the United States. Among other efforts, Russia and China efforts towards strengthening the Shanghai Cooperation Organization are taking place with the aim of achieving regional security, creating a new energy club and reducing the influence of the United States in the region. Although the SCO lacks the material and political capacity to directly confront US’ interests, the organization has become an important counterweight against the US and its Western allies, which has increased the capacity of Russia and China to exercise soft policies for shaping the balance of power. This paper, after first briefly outlining the historical course of Iran towards joining the Shanghai Organization, conducts a study of library documents, the analysis of American and Russian think tanks, as well as the statements of Iranian experts and analysts, to determine the strengths and weaknesses of the Shanghai Organization and the opportunities and threats presented by Iran’s membership in this organization. From the analysis of the interviews and experts' statements, a total of 8 strengths, 7 weaknesses and 22 opportunities presented by Iran’s membership of Shanghai Organization in the fields of security, politics, culture, and economy have been identified, which can overall lead to an increase in the economic security and an improvement in the geopolitical position of the Islamic Republic of Iran.

show that cohesion and continuity are the main requirements for strengthening this front against the Zionist regime. One of the factors that help to increase the integration and cohesion in this axis, and therefore, limit the activities of the Zionist regime, is the development of a rail network in the territory of the resistance axis. On the other hand, considering that increasing infrastructure through the construction of railways projects can increase deterrence and minimize the risk and crises originating from military or humanitarian factors, government investment in this field is required to transform the geopolitics of the axis of resistance. This paper which can be classed as a descriptive-analytical survey, uses a questionnaire to examine the functional dimensions of strategies for expanding of the rail network of resistance axis countries. The paper finds that the most important strategic aspects of this mega project, among the 10 defined strategies include; the creation of a safe land corridor for connecting the western borders of Iran through Iraqi territory to the administrative coast of Syria with an average of (4.4), the significant improvement of the logistic capacity of the resistance axis (4.32), and enhancing the capacity for transferring military forces, tools, equipment and weapons in cases where air transportation becomes impossible (4/13), were ranked first to third.