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Assessing business cycles in the industrial and agricultural sectors in the Iranian economy with policies on banking facilities
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Fereydon Khosravi1   , Sima Eskandari Sabzi2 , Davoud Haghkhah3 , Ali Salmanpour4 , Rostam Ghara daghei5 |
1- PhD student, Department of Economics, Middle Branch, Islamic Azad University, Middle, Iran
2- Assistant Professor, Department of Economics, Islamic Azad University, Middle Branch, Iran , eskandari_economy@yahoo.com
3- Assistant Professor, Department of Public Administration, Middle Branch, Islamic Azad University, Middle, Iran
4- Associate Professor, Department of Economics, Islamic Azad University, Marand Branch, Iran
5- Assistant Professor, Department of Public Administration, Miyaneh Branch, Islamic Azad University, Miyaneh, Iran |
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Abstract: (105 Views) |
The main goal of this article is to investigate the impact of bank facilities on business cycles in the agricultural sector of Iran's economy. The statistical population in this research consists of the added value of the agricultural sector at constant prices of 2013, the working force, fixed capital and the facilities granted by banks to this sector, in the period of 1978-2018, which are extracted annually from the Central Bank and It has been analyzed using Eviews software. First, by using Hodrick-Prescott filter, business cycles are extracted separately, and then the model is estimated by vector error correction method. The adjustment coefficient related to the estimated equilibrium relationship in the agricultural sector is estimated as -0.44, which means that in each period, 44% of the imbalances in one period are adjusted in the next period. What is clear is that expansionary monetary policies in the form of banking facilities in Iran's economy are disciplined policies rather than active and diagnosis-based policies.
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Article number: 18 |
| Keywords: Business Cycles, Banking Facilities, Vector Error Correction Model, Hodrick Prescott Filter |
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Full-Text [PDF 849 kb]
(38 Downloads)
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Article type: Research |
Subject:
Special
Received: 2024/01/25 | Accepted: 2024/04/9 | Published: 2025/02/28
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