اثر نرخ تسهيلات سيستم بانكي بر سرمايه گذاري در اقتصاد ايران

The Effect of Interest Rate of Banking Facilitiesʹ on Investment in Iranʹs Economy

Theoretically, any changes in the interest rate of banking facilities should have an effect on the amount of investment. But in Iranʹs economy, this is not the case. interest Rate is determined by the authorities rather than following the law of demand and supply in the financial market. Moreover the demand for banking facilities is more than financial sources available, therefore, decreasing the interest rate will not result an increase on the investment. The result of estimation of the demand for investment by OLS method and Vector Auto Regressive approve this fact. Hence, liberalization of the financial market and creating a competitive atmosphere in the financial system and above all, the usage of appropriate monetary tools may have positive effect on investment.