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J. Mon. Ec. 2014, 9(2): 117-137 Back to browse issues page
The Impact of Financial Stress on Iran per Capita GDP over the Period 2000(3)-2011(1)
Nasrin Khazalipoor1, Homayoun Ranjbar *1
1- Isfahan(Khorasgan) Branch, Islamic Azad University
Abstract:   (1668 Views)

Stress in financial markets influences economic agents’ behavior by creating uncertainty and changing the expectations. Critical financial stress can lead to financial crisis. Financial crises are among the events always present in the world economy. Iran is not an exception. This paper aims to study the impact of financial stresses on Iran’s per capita GDP. By using ARDL (Auto Regressive Distributed Lags), the effects of financial stress indices, including foreign currency, stock, and banking markets on Iran’s GDP per capita is estimated. Our findings show that financial stresses in currency market and stock market have positive and negative effects on economic growth respectively. Banking stresses have a positive influence on economic growth. The cumulative impact of financial stresses is positive   on Iran’s economy, but is different from the effect of banking stresses with respect to intensity.

JEL Classification: E44, G01, O11, O16

Keywords: Financial crisis, Banking crisis, Stock crisis, Currency crisis, Economic growth, ARDL model
Full-Text [PDF 555 kb]   (1066 Downloads)    
Type of Study: Research | Subject: Development Economics
Received: 2015/03/10 | Accepted: 2016/10/22 | Published: 2016/10/22
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Khazalipoor N, Ranjbar H. The Impact of Financial Stress on Iran per Capita GDP over the Period 2000(3)-2011(1). J. Mon. Ec.. 2014; 9 (2) :117-137
URL: http://jme.mbri.ac.ir/article-1-123-en.html

Volume 9, Issue 2 (Spring 2014) Back to browse issues page
Journal of Money and Economy Journal of Money And Economy
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