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Financial development under financial repression: the case of Iran

Author

Listed:
  • Feridun, M.
  • Nejad, O.D.

Abstract

The purpose of this article is to investigate the determinants of financial development in Iran to assess whether financial repression has a significant impact on financial development using annual data spanning the period between 1965 and 2006 using Autoregressive Distributed Lag (ARDL) bounds testing procedure and Error Correction Models (ECM). The results suggest that trade openness, savings and economic growth have a positive impact on financial development. On the other hand, composite financial repression index has a negative impact on financial development, which suggests that repressive financial policies have a negative impact on financial development process.

Suggested Citation

  • Feridun, M. & Nejad, O.D., 2013. "Financial development under financial repression: the case of Iran," Greenwich Papers in Political Economy 10273, University of Greenwich, Greenwich Political Economy Research Centre.
    • Handle: RePEc:gpe:wpaper:10273
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