Islamic Economics Studies Bi-quarterly Journal

The Influence of Banking Facilities Distribution on Iran’s Economic Growth; By Emphasis on Incorporating & Exchanging Contracts

Document Type : Research Paper

Authors

1 Assistant Professor of Economics, Allameh Tabatabaee University, Tehran, Iran

2 Associate Professor of Economics, Allameh Tabatabaee University, Tehran, Iran

3 M.A in Economics, Allameh Tabatabaee University, Tehran, Iran

Abstract

In interest-free banking system, banks sources distribution happens through the formation of exchanging and participatory of two contract groups. Regarding to different mentioned contracts profit rates and different refund periods and also the position of every one for various activities, facilities distribution in favor of every one can have different impressions on economic growth. This article has investigated the banking facilities distribution with emphasis on exchanging & incorporating contracts on economic growth in Iran. For this purpose, we have utilized 1985-2015 time series and Autoregressive distributed lag. Results show that the emphatic variables coefficient in short term and long one are obtained meaningful and according to the expectation. Logarithmic coefficient financial expanding index in short term with one & three intervals, in long term has been obtained positive and meaningful, that is illustrative of financial expansion positive role in economic growth. In contract, the banking facilities distribution index coefficient (exchanging to incorporative) has been obtained positive and meaningful in short & long terms that represents the positive exchanging contracts on economic growth, in effect, since the exchanging contracts benefit rates are lower and their refund period is longer than incorporative ones and in another situation these contracts are used in productive activities (in comparison to unproductive ones), facilities distribution in favor of these contracts has positive effect on growth.

Keywords

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Islamic Economics Studies Bi-quarterly Journal
Volume 12, Issue 1 - Serial Number 23
March 2019
Pages 151-176