Macroeconomic policies and the Iranian economy in the era of sanctions

Kandil, Magda; Mirzaie, Ida A.

doi:10.1080/17938120.2021.1898190

Cited by 5 publications

(3 citation statements)

References 12 publications

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“…In parallel, industrialization decreases carbon dioxide emissions while increasing carbon emissions (Taghizadeh-Hesary et al, 2022; Zakari & Khan, 2022). Remittance is a crucial income source and helps the economy expand (Guha & others, 2013; Kandil & Mirzaie, 2021; Meyer & Shera, 2017; Pradhan et al, 2008: Pradhan et al, 2008). For financial development, transfer payments are vital, and the demand for financial services increases.…”

Section: Literature Reviewmentioning

confidence: 99%

Understanding the Role of Technology in Asian Economies: The Environmental Impact of Remittances and Economic Complexity

et al. 2022

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In recent years, scholars have determined various determinants of environmental degradation using the panel and time-series studies. However, technological innovations (TI) and remittances, among the financial system’s essential components, are relatively ignored. In addition, nations’ economic progress and environmental performance also depend upon the nature of their economic structure. This empirical research investigates the effects of TI, remittances and economic complexity (EC) on CO2 controlling economic growth and trade openness (TR) in the selected 15 Asian nations. The study collected panel data of 15 Asian countries from 1990 to 2019 and employed the panel quantile regression and augmented mean group methods to unveil the impacts of variables on CO2 emissions. The empirical findings established that remittances are negatively linked with CO2 emissions. Similarly, EC reduces CO2 emissions in the context of Asian countries. In addition, EC and remittances Granger cause CO2 emissions. These findings indicate that remittances and EC positively contribute to environmental quality in Asian countries. Conversely, TI, economic growth, and TR intensify CO2 emissions in Asian countries. Finally, the study recommended policies to enhance remittances and EC in Asian countries to curb environmental degradation.

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Section: Literature Reviewmentioning

confidence: 99%

Understanding the Role of Technology in Asian Economies: The Environmental Impact of Remittances and Economic Complexity

et al. 2022

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“…Previous studies on Iran's inflation have found significant evidence for the importance of money supply, nominal exchange rate, nominal interest rate, import prices and output (e.g. Bahmani-Oskooee, 1995;Liu and Adedeji, 2000;Celasun and Goswami, 2002;Abassinejad and Tashkini, 2005;Bonato, 2008;Kandil and Mirzaie, 2017;Monfared and Akın, 2017;Kandil and Mirzaie, 2021). Other studies highlight the importance of fiscal deficit and institutional arrangements that adversely affect central bank's independence (e.g.…”

Section: Inflation In Iranmentioning

confidence: 99%

“…Alavirad and Athawale, 2005;Kia, 2006;Samimi and Jamshidbaygi, 2011;Naini and Naderian, 2019;Mazarei, 2020). The potential impact of sanctions on Iran's macroeconomic condition is also a unique factor (Kandil and Mirzaie, 2021); their effects on inflation are explored in several studies. For example, Pourshahabi and Dahmardeh (2014) examine the joint inflationary effects from sanctions and speculative currency attacks.…”

Section: Inflation In Iranmentioning

confidence: 99%

Inflation in Iran: an empirical assessment of the key determinants

Hemmati

Tabrizy

Tarverdi

2023

JES

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PurposeTo study the key determinants of chronically high inflation in Iran.Design/methodology/approachRelying on annual data from 1978 to 2019, the authors employ an Auto-Regressive Distributed Lag (ARDL) model and Error Correction Model (ECM) to study the inflationary effects of monetary and fiscal policies as well as exchange rate swings and sanctions intensification.FindingsThe authors find that increase in money supply, depreciation of nominal exchange rate, increase in fiscal deficit and intensification of sanctions are among the key drivers of inflation in Iran. Their impact is profound in the long run, but in the short run only money supply and currency depreciation are significant. Also, when exploring the inflation in different components of Consumer Price Index (CPI), we find robust long- and short-run effects from money supply and exchange rate, while the effects of fiscal deficit and sanctions vary across different components.Originality/valueThe authors contribute to the literature by setting apart the long-vs short-run effects of key variables on inflation in Iran. The authors also employ improved measures of fiscal deficit and sanctions that are shown to be of significance in the long run. Lastly, the authors go beyond the aggregate index and examine the variations in different CPI components.

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Global economy of sanctions, sanctions, countersanctions and the new global currency

Manushin

2022

RusJEL

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Objectives: to study and characterize the modern world economy, to identify the actual goals of the sanctions war, and to propose measures to mitigate sanctions.Methods: in the course of the research, such methods of abstract-logical approach were used as: analysis, synthesis, generalization, comparison, analogy, deduction, induction, and prediction.Results: the actual causes, prerequisites and goals of the world sanctions war were revealed that caused the emergence of the world sanctions economy. It is proved that the current state of the economy can be viewed as a global sanctions economy. The concept of the world sanctions economy is given and the features of the world sanctions economy are revealed: the contradiction between political goals and socio-economic ones; the rocketing energy prices; the noticeable increase in prices for all raw materials and foods; the sharp increase in the cost of products; the transition to the production of lower-quality analogues of common goods; the ideological connotation of the consumption of goods (works, services); the decrease in the living standards of the population; the increase in the requirements of the state to the society members; the reduction in investment; the redistribution of investments to the areas in need of import substitution; the temporary paralysis of interstate trade; the intensification of trade between physical persons. The introduction of energy currency is substantiated. A number of other anti-sanctions measures are proposed.Scientific novelty: firstly, the concept of “world sanctions economy” is proposed. Secondly, the stages of the world economy development are determined and the factors influencing it are identified. Thirdly, the features of most national economies under sanctions are revealed. By the example of Russia, the application of the revealed stages of the world economy development is demonstrated and their connection with sanctions is shown. A forecast of the world economy development is made (two scenarios are given). An additional argument is given for the introduction of a new world currency – an energy ruble. It is proposed to implement a number of other measures relevant under the current economic situation: to specify the country of origin and the form of its participation in the sanctions war for all goods; to increase the level of future problems forecasting; to accelerate the construction of the “Power of Siberia 2” gas pipeline and to increase its export capacity; to activate and popularize the work of charitable organizations to support low-income citizens; to develop an energy index. Foreign goods for Russian counter-sanctions are named: building materials, metal and plastic products, biofuels, tobacco raw materials and cigarettes.Practical significance: the study results will help to better understand the essence and process of the world sanctions economy, to more accurately predict its interim results and consequences, and to take the necessary measures in a timely manner. All the proposed measures will ease the sanctions pressure on Russia. The theoretical results obtained will also be useful in the long term, when the world faces an actual shortage of natural resources.

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Macroeconomic policies and the Iranian economy in the era of sanctions

Cited by 5 publications

References 12 publications

Understanding the Role of Technology in Asian Economies: The Environmental Impact of Remittances and Economic Complexity

Understanding the Role of Technology in Asian Economies: The Environmental Impact of Remittances and Economic Complexity

Inflation in Iran: an empirical assessment of the key determinants

Global economy of sanctions, sanctions, countersanctions and the new global currency

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