IMPACT OF FINANCIAL DEVELOPMENT AND BANK CREDIT PAYMENTS ON TOTAL FACTOR PRODUCTIVITY OF INDUSTRIAL SECTOR

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SEPEHRDOUST HAMID; AFSHARI FATHALLAH

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Journal: JOURNAL OF APPLIED ECONOMICS STUDIES IN IRAN Year:2017 | Volume:5 | Issue:20 Page(s): 221-251

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Title

IMPACT OF FINANCIAL DEVELOPMENT AND BANK CREDIT PAYMENTS ON TOTAL FACTOR PRODUCTIVITY OF INDUSTRIAL SECTOR

Author(s)

SEPEHRDOUST HAMID | AFSHARI FATHALLAH | Issue Writer Certificate

Keywords

FINANCIAL DEVELOPMENTQ2

PRODUCTIVITYQ2

BANKING CREDITSQ2

RESEARCH AND DEVELOPMENTQ2

ARDLQ3

Abstract

Productivity along with other factors is one of the determinants of economic growth. The main objective of present study is to investigate the impact of FINANCIAL DEVELOPMENT and bank credit payments on factor PRODUCTIVITY of industrial sector; Using ARDL model. For this purpose, time series data for the industrial sector during the period of 2013 -1983 and numerical index of total PRODUCTIVITY factor was used. Further, to specify the econometric model, in addition to bank credits other crucial variables such as the cost of RESEARCH AND DEVELOPMENT and capital to production ratio, as the main variable affecting total factor PRODUCTIVITY of Iran industrial sector was used. The results of the study indicate that in the period under review, the capital credits rendered through banking facilities has a positive impact in short term with one year lag (0.027) as well as in long term (o.o44) on total factor PRODUCTIVITY of Iran industrial sector. Moreover, the Current credits rendered through banking facilities have a positive impact in short term (0.032) and no meaningful impact in long term on total factor PRODUCTIVITY of Iran industrial sector. On the other hand, the RESEARCH AND DEVELOPMENT costs have significantly positive effect on PRODUCTIVITY of the entire industry, in the short term (0.013) and in long term (0.039). Finally, the Error Correction coefficient (ECM = -0.35) obtained in the short term was statistically significant and in accordance with the expected amount, that represents a 35 percent adjustment of short-term imbalances total factor PRODUCTIVITY output per period to the long-term trend in the industry.

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APA: Copy

SEPEHRDOUST, HAMID, & AFSHARI, FATHALLAH. (2017). IMPACT OF FINANCIAL DEVELOPMENT AND BANK CREDIT PAYMENTS ON TOTAL FACTOR PRODUCTIVITY OF INDUSTRIAL SECTOR. JOURNAL OF APPLIED ECONOMICS STUDIES IN IRAN, 5(20 ), 221-251. SID. https://sid.ir/paper/226526/en

Vancouver: Copy

SEPEHRDOUST HAMID, AFSHARI FATHALLAH. IMPACT OF FINANCIAL DEVELOPMENT AND BANK CREDIT PAYMENTS ON TOTAL FACTOR PRODUCTIVITY OF INDUSTRIAL SECTOR. JOURNAL OF APPLIED ECONOMICS STUDIES IN IRAN[Internet]. 2017;5(20 ):221-251. Available from: https://sid.ir/paper/226526/en

IEEE: Copy

HAMID SEPEHRDOUST, and FATHALLAH AFSHARI, “IMPACT OF FINANCIAL DEVELOPMENT AND BANK CREDIT PAYMENTS ON TOTAL FACTOR PRODUCTIVITY OF INDUSTRIAL SECTOR,” JOURNAL OF APPLIED ECONOMICS STUDIES IN IRAN, vol. 5, no. 20 , pp. 221–251, 2017, [Online]. Available: https://sid.ir/paper/226526/en

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