Democracy: An opportunity or a threat to Iran's economic structure

Madjid Hatefi Madjumerd (), Omolbanin Jalali () and Mohamad Esmaeel Ashrafi ()
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Madjid Hatefi Madjumerd: Department of Economics, University of Sistan and Baluchestan. Iran.
Omolbanin Jalali: Department of Economics, Yazd University. Iran.
Mohamad Esmaeel Ashrafi: Shahid Bahonar University of Kerman. Iran.

Turkish Economic Review, 2017, vol. 4, issue 3, 326-333

Abstract: The main aim of this study is to evaluate the role of democracy in Iran’s economic structure during 1983 to 2012. Iran’s economic structure is divided into two oil and non-oil parts and is investigated in the governments of Seyed Ali Khamenei, Ali Akbar Hashemi Rafsanjani, Seyed Mohammad Khatami, and Mahmoud Ahmadinejad. In this context, the government of Mr. Khamenei is selected as the base government and other governments are compared to that. Results of the oil part showed that the government of Mr. Khatami had a better performance in terms of capital, labor and political risk. With regard to oil exports, the two other governments have had the same performance as the base government. Results of the non-oil part showed that the effect of exports on economic growth in the governments of Mr. Hashemi Rafsanjani and Ahmadinejad is like the base government; while it is significantly different from the base government in the government of Mr. Khatami. Labor has had a negative effect in Mr. Hashemi Rafsanjani and Ahmadinejad’s governments, while its impact on economic growth is positive in Khatami's government. Political risks had the greatest effect on economic growth in the government of Mr. Ahmadinejad (relative to Mr. Hashemi Rafsanjani and Mr. Khatami’s governments).

Keywords: Cabinet changes; Political risks; Oil economy; Non-oil economy. (search for similar items in EconPapers)
JEL-codes: F52 G12 G15 (search for similar items in EconPapers)
Date: 2017
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