Structural Changes in the Iranian Economy: An Empirical Analysis with Endogenously Determined Breaks

Mosayeb Pahlavani, Ed Wilson () and Abbas Valadkhani
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Mosayeb Pahlavani: University of Wollongong, http://business.uow.edu.au/econ/who/index.html
Ed Wilson: University of Wollongong, http://business.uow.edu.au/econ/who/index.html

Economics Working Papers from School of Economics, University of Wollongong, NSW, Australia

Abstract: This paper employs annual time series data (1960-2003) and the ZA (Zivot and Andrews, 1992) and the LP (Lumsdaine and Papell, 1997) approaches to determine endogenously the more likely time of major structural breaks in various macroeconomic variables of the Iranian economy. We have considered the presence of one and two unknown structural breaks in the data. The results obtained from these two approaches are consistent in that the time of one structural break in eight out of the ten variables examined in the paper is the same. The resulting structural breaks coincide with important phenomena in the economy such as the 1974 oil shock, the 1979 Islamic revolution, the Iraqi war or the implementation of the exchange rate unification policy in 1993 in the case of the official exchange rate.

Keywords: structural break; unit root test; Iranian economy (search for similar items in EconPapers)
JEL-codes: C12 C22 C52 (search for similar items in EconPapers)
Pages: 10 pages
Date: 2005
New Economics Papers: this item is included in nep-cwa
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Citations: View citations in EconPapers (3)

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