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:: Volume 2, Issue 6 (3-2012) ::
2012, 2(6): 43-60 Back to browse issues page
Looking at The effects of Institutional Factors on TFP Growth In Iranian Economy: A State Space Model
Ebrahim Rezaei
Abstract:   (9043 Views)

    The number of factors affecting total factor productivity has been increasing far from those which considered in growth models. So, institutional factors have been attracting strong attention of researchers. This paper aims at investigating the effects of these institutional factors together with traditional factors on TFP growth during 1971-2007.

  For this purpose, we present a State-Space model. Using this approach, TFP has been regarded as a latent variable and in the state equation, we introduced some exogenous variables. Some endogenous variables which were mainly measures of institutional factors have been specified as proxies. Our result show that the introduced measures of institutions such as governance(political stability and accountability) institutions and degree of government intervention together with an older and known institutional factors, such as macroeconomic instability, have significant effects on TFP growth. In addition, the residuals from state-space model (either deterministic or stochastic) were different from the residuals of other models.

Keywords: Institutional Factors, TFP, Latent Variable Approach, Iranian Economy, State- Space Model.
Type of Study: Applicable | Subject: رشد و توسعه و سیاست های کلان
Received: 2011/09/3 | Accepted: 2012/05/20 | Published: 2012/03/15
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Rezaei E. Looking at The effects of Institutional Factors on TFP Growth In Iranian Economy: A State Space Model. Journal title 2012; 2 (6) :43-60
URL: http://jfm.khu.ac.ir/article-1-266-en.html

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Volume 2, Issue 6 (3-2012) Back to browse issues page
فصلنامه تحقیقات مدلسازی اقتصادی Journal of Economic Modeling Research
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