فصلنامه پژوهش ها و سیاست های اقتصادی
پیاپی 48 (زمستان 1387)

Information is the most valuable asset in the stock exchange. Exchange markets are efficient wherever the require information are freely, promptly and with minimum costs are available to traders. The results show that the traders in stock exchanges believe that among the four categories of information, i.e., financial, capital, corporate activities and political-economical (external) information, those which are related to corporate activities have lower level of significance while financial, capital and external information are ranked similarly. Moreover, among different kind of financial information, the dividends, and among the variety of capital information, the information regarding the capital variations are more easily available to traders. Among the external information, the information related on the political conditions of the country is more demanded by traders in a stock exchange. It should be noted that the information available in this paper are obtained by distributing questionnaires related to the year 1384.

The high price volatility in the market indicates the severity of price variations hence making the price forecasting a more challenging issue. This is due to the fact that higher price volatility in a market means higher uncertainties and an increased level of risk in that market. Upon the analysis of volatile behavior of crude oil prices during different periods over 1987 to 2008, this paper attempts to arrive at the causal relationship between the variations in crude oil prices and trading volumes in crude oil exchanges using the VECM model. The results show that the direction of causality is from the price variations to volumes traded.

In this study a static Computable General Equilibrium model based on Iranian Social Accounting Matrix of 1380 was applied to investigate the impact of 20 and 50 percent increase in Government expenditures under floating exchange rate regimes on poverty indices. The impact of increased Government expenditure on poverty indices was performed by analyzing its impact on household’s consumption and prices. The results revealed that based on the consumption changes, increased Government expenditures increases poverty throughout urban households, while regarding the price changes, increments of Government expenditure will reduce poverty indices. In the case of rural households, based on both of consumption and price changes approaches, increases in Government expenditures would result in reduced poverty indices. However regarding the level of incremental expenditures, changes in poverty indices are not considerable.

Over the last decades the most important problem in developing countries was the rate of economic growth. This has led to more attention to the development strategies, In this regard, policy makers and economists showed more interests in downgrading the size of Governments towards improving the performance of markets as well as better resource allocations. This paper attempts to examine the private sector and its activities as a topical issue in Iranian economy. The aims and basics of the 44th Principle of the Constitution are then analyzed. Regarding the 44th Principle of the Constitution and the Supreme Leader's command on accelerating the privatization process in different economic sectors and along with the objectives of the Fourth Development Plan and the Country’s 20-year Vision, it is expected that the Government will take serious measures towards flourishing Iranian economy with emphasis on increasing economic growth, reducing the unemployment rate and preventing the extra expenses.

The aim of this study is to investigate the impact of Globalization on poverty indices and welfare of income deciles throughout the rural and urban households. First, the impact of Globalization index on the price of bread and grains is estimated and then the impact of the increase in the said index is examined by the analysis of price changes on the expenditures on bread and grains among a sample of selected rural and urban households. Moreover, the effect of the change in expenditures on the three indices of poverty, i.e., headcount, poverty gap, and poverty severity in urban and rural areas are analyzed. It is shown that the growth in Globalization has decreased the poverty indices particularly among the urban households. It is also shown that the growth in Globalization has lowered expenditures or equivalently has increased the real income through the reduction in the price of consumer commodities; and this reduction is more pronounced among the lower income deciles as compared with higher deciles. As a whole, the results indicate that the benefits accrue to urban households resulting from Globalization are higher than that of rural households.