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Financial Repression and Agricultural Growth: The Case of Islamic Republic of Iran (1962-2007)

Author

Listed:
  • Javad Torkamani

    (Professor of Agricultural Economics , University of Shiraz, Shiraz, Iran)

  • Ali Hussein Samadi

    (Assistant Professor of Economics, University of Shiraz, Shiraz, Iran)

  • Sanaz Mansouri

    (M.A. in Agricultural Economics, University of Shiraz, Shiraz, Iran)

Abstract

There have been few studies working on effects of financial repression policies on Iran’s economic growth. Considering the huge share of agricultural sector, we have been trying fill this gap by the help of time series data from 1962 to 2007 on agricultural GDP, unproductive government expenditures, human capital, industrial price index, political instability, and financial repression measurements. Results show that bank reserve requirement control policies as a proxy for financial repression measure, has negative effect which reminds reducing controls on this parameter will help government achieve higher rate of growth.

Suggested Citation

  • Javad Torkamani & Ali Hussein Samadi & Sanaz Mansouri, 2012. "Financial Repression and Agricultural Growth: The Case of Islamic Republic of Iran (1962-2007)," Iranian Economic Review, Economics faculty of Tehran university, vol. 17(1), pages 147-159, winter.
  • Handle: RePEc:eut:journl:v:17:y:2012:i:1:p:147
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    References listed on IDEAS

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    1. Demetriades, Panicos O. & P. Devereux, Michael & Luintel, Kul B., 1998. "Productivity and financial sector policies: Evidence from South East Asia," Journal of Economic Behavior & Organization, Elsevier, vol. 35(1), pages 61-82, March.
    2. Engle, Robert & Granger, Clive, 2015. "Co-integration and error correction: Representation, estimation, and testing," Applied Econometrics, Publishing House "SINERGIA PRESS", vol. 39(3), pages 106-135.
    3. Robert J. Barro, 1991. "Economic Growth in a Cross Section of Countries," The Quarterly Journal of Economics, Oxford University Press, vol. 106(2), pages 407-443.
    4. Demetriades, Panicos O. & Luintel, Kul B., 2001. "Financial restraints in the South Korean miracle," Journal of Development Economics, Elsevier, vol. 64(2), pages 459-479, April.
    5. Bai, Chong-En & Li, David D. & Qian, Yingyi & Wang, Yijiang, 2001. "Financial repression and optimal taxation," Economics Letters, Elsevier, vol. 70(2), pages 245-251, February.
    6. Ang, James B. & McKibbin, Warwick J., 2007. "Financial liberalization, financial sector development and growth: Evidence from Malaysia," Journal of Development Economics, Elsevier, vol. 84(1), pages 215-233, September.
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