Showing 4 results for Generalized Method of Moments
Dr Jahangarde, Sara Ali Asgari,
Volume 2, Issue 4 (6-2011)
Abstract
Macroeconomic performance has improved in many countries in the world in the last fifteen years or so. Much of the literature has concentrated on how central bank independence, inflation targeting regimes, and currency :::union:::s have contributed to improving the effectiveness of monetary policy and hence macroeconomic performance. Since the financial system is a key component of the monetary transmission mechanism, we study how a country’s financial development affects monetary policy efficiency in 28 developed and developing countries within 1995-2006. Specifically, our objective is to derive monetary policy efficiency measures (PEMs) - derivative from Krause and Rioja- for 28 Developed and developing countries and analyze the impact that the size and depth of the banking sector and the capital sector have on policy performance. In our empirical analysis we use three financial development measures: private credit, liquid liabilities, and a financial aggregate index that comprises banking and stock market measures. The Results of model estimation with generalized method of moments (GMM) technique, shows that financial development with mentioned indicators has a positive and significant effect on monetary policy efficiency. Also supervision in central bank independency and inflation targeting regimes -as control variables- has positive and significant effect on monetary policy efficiency. This result doesn’t make a difference whether the country is developed or developing and in the both of them more developed financial markets, controlling the central bank independency and applying inflation targeting regimes, significantly help to achieve a more efficient monetary policy.
Saeed Farahani Fard, Majid Feshari, Yavar Khanzadeh,
Volume 6, Issue 20 (7-2015)
Abstract
Financial institution as a non-bank financial institutions, institutions that are active in mediating funds in financial markets. Services are in many ways similar to the services provided by banks. Because the relationship between the development of non-bank financial institutions and Iranian gross domestic production (GDP) seem important. In this context, the main objective of this study was to investigate the effect of non-bank financial institutions in the areas of facilities of GDP contracts with other variables such as per capita GDP and employment effects on the labor force for the period 1999Q1-2013Q4. To estimate the Generalized Method of Moments (GMM) is used to model estimation results indicate a significant positive impact on the development of non-bank financial institutions and facilities with regard to Islamic contracts. The per capita income and employment variables have a significant positive impact on GDP respectively.
Abolghasem Golkhandan, Sahebe Mohammadian Mansour,
Volume 12, Issue 46 (12-2021)
Abstract
Based on theoretical foundations and empirical studies in the field of the relationship between natural resources and internal conflict, 4 states can be imagined: a. Positive relationship between natural resources abundance and internal conflict (hypothesis of political resources curse) b. positive relationship between natural resources scarcity and internal conflict (hypothesis of political resources endowment) c. Non-linear relationship between natural resources and internal conflict (combination of state A and B) d. Absence of relationship. Based on this, the main purpose of this article is to investigate the relationship between natural resources types and internal conflict risk in the MENAP region countries during the period of 2000-2019 using the System Generalized Method of Moments (SGMM). For this purpose, the index of the percentage share of total natural resource rent from GDP and eight separate indicators including: the percentage share of oil, natural gas, coal, forest and mining rent from GDP, the percentage share of fuel export and the export of ore and metals from the export of goods and the percentage share of arable land in the total area have been used. The results show that there is a U-shaped relationship between the total rent of natural resources and the internal conflict risk; In other words, countries with a shortage of natural resources as well as countries with an abundance of natural resources have a higher internal conflict risk than other countries. This U-shaped relationship is also confirmed for oil rent and fuel export. Also, coal and forest rent have a meaningless effect and arable land has an inverted U effect on the internal conflict risk in the studied countries. The evaluation of the marginal effect of the total rent of natural resources on the internal conflict risk shows that its value varies from -0.08 to 0.1. According to the other results, per capita income and democracy have a negative and significant effect, and population and religious and racial tensions have a positive and significant effect on the internal conflict risk.
Ali Mehdizadeh, Yavar Dashtbany,
Volume 15, Issue 58 (2-2025)
Abstract
Tax compliance is one of the most significant issues in the field of economic management, contributing to financial transparency, economic justice, and the enhancement of government revenue sources. In OECD member countries, tax policies between 1990 and 2022 have been designed to improve tax compliance and strengthen the sustainability of tax revenues. This study examines the determinants of tax compliance in these countries using the Generalized Method of Moments (GMM) for panel data analysis. The results indicate a nonlinear and significant effect of the tax rate and its squared term on tax compliance, suggesting that while a positive relationship exists between the tax rate and compliance up to an optimal threshold, excessive increases in tax rates may reduce compliance. Furthermore, the employment index has a positive and significant effect on tax compliance, highlighting the importance of job creation in expanding the tax base. In contrast, the corruption index has a negative and significant effect on compliance, emphasizing the need to reduce corruption and increase transparency within the tax system. Per capita GDP also exhibits a negative effect on tax compliance, which can be attributed to structural changes in the economy and the fiscal policies of the countries studied. Nevertheless, the ratio of tax revenue to GDP in OECD countries has remained relatively stable and slightly increasing, reflecting the role of reforms and transparency in sustaining their tax systems. The findings of this study can inform the design of effective policies to enhance tax compliance in Iran, including determining optimal tax rates, strengthening employment policies, improving transparency, and reducing corruption within the tax administration.
