[Home ] [Archive]   [ فارسی ]  
:: Main :: About :: Current Issue :: Archive :: Search :: Submit :: Contact ::
:: Volume 17, Issue 70 (Fall 1400 2021) ::
QEER 2021, 17(70): 85-116 Back to browse issues page
Is Oil curse or a Blessing for Iran's Financial Development?
Soheil Roudari 1, Amirmansour Tehranchian2, Pegah Zarei2
1- Ferdowsi university of mashad , soheil.rudari@mail.um.ac.ir
2- Mazandaran University
Abstract:   (301 Views)
In the present paper we study the effect of oil prices on the financial development index based on the banking network and the stock market for the period 1357-1396 by using the Markov Switching Model. The results show that if the financial development based on the stock market is in a low regime, the increase in oil prices is not a curse for financial development, with no significant effect either positive or negative while if it is  in a high regime, then oil income acts as a curse and reduces the financial development of the stock market. If the financial development index is in the middle regime, the increase in oil prices will not be a curse and will not reduce bank financial development. Also, the variables of trade openness and economic growth have different effects depending on the type of financial development regime. According to the research results, the increase in oil prices and revenues does not always lead to a decrease in the country’s financial development. The impact depends on the stability and speed of financial development.
JEL Classification: C34, E51, G21
Keywords: Resource Curse, Financial Development, Trade Openness, Economic Growth, Markov Switching Model
Keywords: Recourse Curse, Financial Development, Trade Openness, Economic Growth, Markov Switching Model
Full-Text [PDF 1750 kb]   (120 Downloads)    
Type of Study: Research | Subject: Energy Economic
Received: 2020/04/22 | Accepted: 2021/09/1 | Published: 2021/11/1 | ePublished: 2021/11/1
Send email to the article author

Add your comments about this article
Your username or Email:

CAPTCHA


XML   Persian Abstract   Print


Download citation:
BibTeX | RIS | EndNote | Medlars | ProCite | Reference Manager | RefWorks
Send citation to:

Roudari S, Tehranchian A, zarei P. Is Oil curse or a Blessing for Iran's Financial Development?. QEER. 2021; 17 (70) :85-116
URL: http://iiesj.ir/article-1-1293-en.html


Rights and permissions
Creative Commons License This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
Volume 17, Issue 70 (Fall 1400 2021) Back to browse issues page
فصلنامه مطالعات اقتصاد انرژی Quarterly Energy Economics Review
Persian site map - English site map - Created in 0.05 seconds with 30 queries by YEKTAWEB 4355