International Economics Studies

Original Article

China’s Sustainable Tourism and Output Growth: A Policy Modelling Study

Tran Van Hoa; Jo Vu; Pham Quang Thao

Volume 51, Issue 2 , October 2021, Pages 1-14

https://doi.org/10.22108/ies.2022.132249.1126

Abstract

China has become the world’s high-growth and second largest economy since its socialist- orientation opening-up reforms in the early 1980s. Due also to its geographical, cultural ... Read More China has become the world’s high-growth and second largest economy since its socialist- orientation opening-up reforms in the early 1980s. Due also to its geographical, cultural and historical attractions, the country has become the world’s fourth largest tourism destination and tenth largest tourism earner in 2018 according to the World Tourist Organization. The important role played by tourism in the Chinese economy has been officially recognized by China’s National Development and Reform Commission as a strategic pillar industry development priority. In spite of these, rigorous policy-related studies on China’s tourism have been limited. The paper is a serious econometric study to investigate the determination of China’s tourism and its contribution to the country during the period 1996-2018 for credible data-based policy analysis. Significantly, the study is carried out appropriately from an economic integration (globalization) growth framework, which is also the expenditure (as opposed to production or income) perspective of the United Nations System of National Accounts 1998/2003. Specifically, a multi-simultaneous equation model of endogenous growth and China’s tourism determination is developed. The model innovatively incorporates gravity theory and classical consumer demand contributors, Ironmonger-Lancaster new commodity attributes and Johansen policy impact add- and sub-factors (i.e., reforms and crises) explicitly in its economic integration structure. The model is then estimated by system methods with official economic and tourism 1996-2018 data from the World Tourism Organization and international databases. The research will contribute to advances in the literature and the findings provide useful insights and appropriate and much needed evidence-based inputs on the determination and contributors of tourism to China’s growth. Recommendations will be provided to key stake-holders such as tourism policy-makers, academic researchers, business analysts and tourism operators for national strategic policy analysis and practical implementation.JEL Classification: C54, F15, F62, Z32, Z38

Original Article

Competition and Market Power in the Manufacturing Industries: A Comparative Study

Hadiseh Mohseni; Mosayeb Pahlavani; Mohhamad Nabi Shahiki Tash; Seyed Hossein Mirjalili

Volume 51, Issue 2 , October 2021, Pages 15-22

https://doi.org/10.22108/ies.2020.122212.1080

Abstract

This paper examines the gap between marginal cost and the price of 22 manufacturing industries in Iran at ISIC 2-digit level and 32 industries at a 3-digit level during 1995-2015 compared ... Read More

Original Article

The Stock Market Response to Oil Price Shocks in Selected Oil-Importing Countries

Hamid Sepehrdoust; Seyed Ehsan Hosseinidoust; Zahra Mohamadi Mehr

Volume 51, Issue 2 , October 2021, Pages 23-36

https://doi.org/10.22108/ies.2022.133096.1131

Abstract

As one of the most important components of the financial market, the stock market plays a significant role in facilitating the transfer of financial resources to the productive sector; ... Read More

Original Article

The Impact of Personalization on Customers’ Loyalty and the Intention to Use E-banking Services

Houshang Taghizadeh; Karim Panahi; Soleyman Iranzadeh

Volume 51, Issue 2 , October 2021, Pages 37-52

https://doi.org/10.22108/ies.2022.132161.1125

Abstract

The present study aimed to answer the question of how personalization affects customer loyalty with the moderating role of technology experience consistency in the field of the e-banking ... Read More

Original Article

The Impact of Macroeconomic Variables on Tehran Stock Exchange Index Performance: An FMOLS Approach

Mahya Karimzadeh khosroshahi; Ehsan Taieby sani; Arman Malek

Volume 51, Issue 2 , October 2021, Pages 53-66

https://doi.org/10.22108/ies.2022.132763.1129

Abstract

According to the literature, macroeconomic variables have significant effects on financial markets. In addition to investors and traders in these markets, researchers have also paid ... Read More

Original Article

Crowding out or Crowding in? Government Spending Effects on the Private Sector in Iran

Somaye Rasouli Firoozabadi; Nazar Dahmarde; Mohammad Nabi SHahiki Tash

Volume 51, Issue 2 , October 2021, Pages 67-84

https://doi.org/10.22108/ies.2022.133124.1132

Abstract

Given that changes in interest rates can only partly empower financial authorities to enhance the country’s economy, there has been a major shift toward outcomes of fiscal policies, ... Read More

Durable Goods and Sectoral Effects of Monetary Policy

Mehdi Naji

Volume 45, Issue 1 , March 2015, , Pages 51-60

https://doi.org/10.22108/ies.2014.21905

Abstract

High degree of interest sensitivity of durable goods is now a stylized fact in the literature of monetary policy. This literature, however, does not provide a clear and consensual explanation ... Read More

On the Status of Iran’s Oil Trade with China in Pre- Nuclear Deal

Ali Sotoudehfar

Volume 45, Issue 2 , October 2015, , Pages 21-32

https://doi.org/10.22108/ies.2017.79044

Abstract

Energy has been the main pillar of the global growth and development. Amongst various sources of energy, oil has the largest share in the global energy consumption. As these energy ... Read More Energy has been the main pillar of the global growth and development. Amongst various sources of energy, oil has the largest share in the global energy consumption. As these energy reserves tend to decline, few regions, most notably the Middle East which has been at the forefront with the largest reserves, can fulfill the rising global energy demand. Even then, in view of its vast energy potential, this region has attracted the attention of the growing economies of the world. This paper intends to look at one of the significant producers in the Persian Gulf energy market, Iran, and its energy relations with the Asian giant, China, from the International Relations perspective. Having a wide variety of capacities, Iran-China relations in recent years has made special dynamics, so that in different fields, this relationship has been steadily expanding and deepening. One of the most important capacity building areas in Iran-China relations is energy. The area of energy certainly has played the most important role in the dynamics of these relationships. Potential opportunities of bilateral cooperation between Iran and China in the field of energy are wide, and in case of realization it can have positive consequences of the political and security. The aim of this paper is to cover the current oil trade situation between the two countries as well as the existing problems that are limiting the growth of this relation such as international sanctions and at the end some suggestions in order to enlarge the trade between the two countries. In conclusion, we can say that a massive capacity on the basis of "energy" in relations between Iran and China have emerged that can be used to promote economic relations between the two countries in the framework of a comprehensive strategy that benefits both countries and the region. This Capacity must be accompanied with "mutual desire” to take place. Especially noteworthy is that the existing capacities should not only be considered as "energy economy" and cooperation in the field of energy, but also should be seen as the overall framework of "security" and "Asian solidarity”. JEL Classification: F14, F18

Trade Potential of Turkey with Asia-Pacific Countries: Evidence from Panel Gravity Model

Kadir Karagoz; M.Ozan Saray

Volume 36, Issue 1 , April 2010, , Pages 19-26

https://doi.org/10.22108/ies.2022.15523

Abstract

As a result of recent developments, global economic centre of gravity has slide to Asia-Pacific region. It is predicted that Asia-Pacific countries will take place at the first row ... Read More As a result of recent developments, global economic centre of gravity has slide to Asia-Pacific region. It is predicted that Asia-Pacific countries will take place at the first row in global trade and nearly a half of the total trade will intensify in this region at the year 2030. On the other hand, the region covers countries from different levels of development. These features of the region promise umpteen trade opportunities for countries from other parts of world. Particularly after import-substitution policies were abandoned in favor of trade integration measures since 1980s the share of foreign trade in GDP raised. Recent years have witnessed a more remarkable increase in exports. In this regard, the government started to execute the âStrategy for Developing Commercial and Economic Relations with Asia-Pacific Countriesâ in 2005. By this plan it was aimed to raise the market shares of Turkish firms in Asia-Pacific countries, to enhance the potential of Turkish defense industry, and to attract more investments from regionâs countries which have rich capital accumulation. Thus, the issue of trade potential of Turkey with Asia-Pacific countries gains importance. In this paper we attempt to estimate trade potential for Turkey using the gravity model approach. To this end we use gravity model to first analyze the effective gravitational factors on trade flows and the coefficients thus obtained are then used to estimate the trade potential for Turkey. The results of the fixed effect model reveal that the trade volume between Turkey and Asia-Pacific countries is positively affected from economic size of the countries, while distance plays negative role on trade. The size of the countries with respect to population seems no meaningful effect. On the other hand, depending on the gravity model, our estimates of Turkeyâs trade potential for Asia-Pacific countries reveal that the P. N. Guinea, Peru, Myanmar, Mexico, Laos, Brunei promise potential for expansion of trade. Our estimates indicate that Turkeyâs actual trade level with rest of the countries in the sample has exceeded her trade potential. JEL Classification: C32, F15

The Impact of Monetary Regime on the Exchange Rate Pass-Through under Inflationary Environment (Dynamic Panel Data Approach)

Majid Feshari; Ali Reza Kazerooni

Volume 44, Issue 1 , April 2014, , Pages 27-36

https://doi.org/10.22108/ies.2014.15577

Abstract

The main objective of this paper is to investigate the effects of monetary regime (countries with inflation targeting monetary policy versus countries with exchange rate anchor) on ... Read More

Monetary policy and exchange rate overshooting in Iran: A Vector Errors Correction (VEC) approach

Hosein Sharifi-Renani; Molood Raki; Naghmeh Honarvar

Volume 44, Issue 1 , April 2014, , Pages 67-74

https://doi.org/10.22108/ies.2014.15572

Abstract

Assumption of exchange rate overshooting has significant position in international macroeconomic discussion. This phenomenon is one of the abnormal behaviors of exchange rate that happen ... Read More

Examination Iran's Factor Content of Trade Using International Input– Output Tables

Hamed Fahimifard; Mostafa Karimzadeh; Mohammadali Falahi; Ahmad Seyfi

Articles in Press, Accepted Manuscript, Available Online from 04 March 2020

https://doi.org/10.22108/ies.2020.115176.1055

Abstract

Numerous models are proposed to model international trade and promote it. Vanek, instead of designing a trade pattern based on the production, introduced a pattern based on the factor ... Read More

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Volume 38 (2011)

Volume 37 (2011)

Volume 36 (2010)

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Volume 34 (2009)

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