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Optimal Control of the Import in Planning for Economic Growth (in Persian)

Author

Listed:
  • Jafari Samimi, Ahmad

    (Iran)

  • Tehranchian, Amirmansour

    (Iran)

  • Balonejad, Rozbeh

    (Iran)

Abstract

Using stochastic optimal control theory, the optimal values of imports in the years 1388-1385 have been calculated in the present paper. For this purpose, we set up a linear quadratic objective lose function. This model imposes fines on the squared deviations economic growth from the goals of the approved 4th development plan. The Inter-temporal target function with respect to dynamic and econometric equations and using Bellman equation is minimized. Based on our results, the optimal values of the volume of import were less than those in the approved 4th plan and the actual volume of import. Also, assuming no change in monetary and fiscal policy, the calculated amount of imports could have stabilized economic growth rate and trend close to the goals of the plan. Using the optimization algorithm in determination of the optimal volume of imports and controlling the volume of imports in the fifth development plan are the most important suggestions of this study. JEL Classification Codes: O24, C22, C02

Suggested Citation

  • Jafari Samimi, Ahmad & Tehranchian, Amirmansour & Balonejad, Rozbeh, 2013. "Optimal Control of the Import in Planning for Economic Growth (in Persian)," Journal of Monetary and Banking Research (فصلنامه پژوهش‌های پولی-بانکی), Monetary and Banking Research Institute, Central Bank of the Islamic Republic of Iran, vol. 6(14), pages 69-86, March.
    • Handle: RePEc:mbr:jmbres:v:6:y:2013:i:14:p:69-86
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    More about this item

    JEL classification:

    • C02 - Mathematical and Quantitative Methods - - General - - - Mathematical Economics
    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • O24 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Trade Policy; Factor Movement; Foreign Exchange Policy

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