بررسي عوامل تعيين كننده رشد اقتصادي ايران

An Investigation of the Determining Factors in Iranʹs Economic Growth

The aim of this study is to assess the role of Labor, Physical capital, domestic R&D expenditures and foreign R&D expenditures (through the foreign trade) and Human resources on output in Iran. Recent theories of economic growth treat commercially oriented innovation in response to economic incentives as the main engine of the technological progress and Economic growth. In this view, innovation feeds on knowledge resulting from increasing research and development (R&D) experience on the one hand, and it contributes to this stock of knowledge, on the other. Consequently, an economyʹs level of productivity depends on its increasing R&D efforts and on its effective accumulation of knowledge, with the two being interrelated. Therefore, in this study we consider domestic R&D expenditure as a proxy for the R&D capital stock and construct a foreign R&D capital stock as the import-weighted sum of the trade partners of R&D capital stock. We apply Johansen co-integration methodology in the estimation during the period between 1347-1378. The trade partners of Iran in this study consist of 21 OECD countries and United Arab Emirates. The findings show that Labor, Physical capital, domestic and foreign R&D capital stock and Human resources have important effects on economic growth. Our estimates suggest that the effect of foreign R&D capital stock is stronger than that of domestic R&D capital stock on economic growth. Also our estimates show that the coefficient of mutual effect of trade and human resources with trade partnersʹ R&D capital stock on economic growth is positive.