چکیده:
he main purpose of this paper is to examine the impact of exchange rate unification policies on the domestic price in Iran using a co-integration approach between 1971and 2002.For doing this, a weighted average of exchange rate under the multiple exchange rate regimes is used as a proxy for the unified exchange rate. The impact of this unified exchange rate on the domestic price alongside with other variables is evaluated by multivariate Johansen’s co-integration technique.The main finding indicates that the unified exchange rate has a positive effect on the domestic price in Iran. In other words, the move from multiple exchange rate system to unified exchange rate maybe accompanied with inflationary pressure.
خلاصه ماشینی:
"Due to its relevance for regional economic policy, convergence has been an active area of research for many years, see Barro and Sala-i-Martin (1991, 1992) and Mankiw, Romer, and Weil (1992) as seminal contributions.
Rent-seeking is likely harmful for the economic performance and can hinder convergence if these activities are concentrated in particular regions of a country.
2- Economic convergence across regions Convergence of productivity and per capita income is an important prediction of the neoclassical growth model, see Barro and Sala-i-Martin (1991, 1992).
3- The adverse impact of rent-seeking on economic growth The wide dispersion of per capita income across countries might be related to differences in social infrastructures; see Hall and Jones (1999).
In case of the developing countries, Sachs and Warner (1995), Mauro (1995), Knack and Keefer (1995), Acemoglu, Johnson, and Robinson (2001, 2002), and Engerman and Sokoloff (2002) have explored the role of geography in the adoption of appropriate institutions from the Western world which foster economic growth and development.
4- Economic development in Iran and rent-seeking Iran experienced high and sustained output growth with very low inflation in the 1960s, when oil incomes accounted only for a small share in Iran's GDP.
Especially after 1990s, that implement government development projects in other provinces and their demand deposits are counted in those provinces and this cause the growth rates of demand deposits in other provinces to be higher while the incomes obtained are mainly transferred to Tehran and rich regions."