Comparison of Iran and China from the Perspective of Knowledge-Based Economy in Order to Deal with Economic Sanctions

Abolfazl Shahabadi () and Zohre Bahari ()
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Abolfazl Shahabadi: Associate Professor, Faculty of Economics and Social Sciences, Bu-Ali Sina University, Hamadan, Iran
Zohre Bahari: M.A. of Economics, Islamic Azad University of Arak Branch, Iran

International Journal of Resistive Economics, 2013, vol. 1, issue 1, 83-97

Abstract: Economic sanctions against countries are among the factors that will disrupt process of economic growth. It seems poor countries will face more sanctions. These countries should fight with sanctions by knowledge-Based management of financial, natural and human resources, from channels of promotion of productive investments, national products, productivity, competitiveness and turn sanctions into opportunities in order to strengthen the foundation of economic prosperity and realize resistive economic. The knowledge-based economy plays an important role in order to realize resistive economic. Therefore, this study compares macroeconomic variables and status of knowledge-based economy in Iran and China, under sanctions during the period 1980-2009. The results indicate during the period 1980-2009, China increased the share of TFP in economic growth and competitive strength through development of new agents markets and made practically ineffective sanctions. So, sanction not only didn't weaken economic and productive variables in China, but also provided an opportunity for strengthen economic foundations. Iran unlike China hasn't suitable situation about innovation components and new agents markets. Therefore, Iran must expanded components of knowledge-based economy and markets of new production factors in order to neutralize effect of sanctions, turn non-renewable wealth into reproducible wealth and increasing share of TFP in economic growth.

Keywords: Economic Sanctions; Knowledge-Based Economy; TFP; Iran; China (search for similar items in EconPapers)
Date: 2013
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