خلاصة:
Efficiency increment impacts the main economic, social and political
phenomena of societies such as lowering inflation, increasing welfare,
increasing employment and enhancing competitiveness. Therefore, the
purpose of this study is to analyze the effects of market efficiency, as
one pillar of Eghtesad-e-Moghavemati, on the economic prosperity of
Asian countries with the average or higher index of competitiveness
for the period 2008 to 2018. For this purpose, using the Panel Vector
Error Correction Model (PVECM), the effects of market efficiency on
the economic success of these countries were investigated. In general,
the results indicate that improving market efficiency leads to an
increase in the economic growth rate and a decrement in the
unemployment rate, and ultimately an increase in the economic
prosperousness in the medium and long run. The results also showed
that the most effective variable on market efficiency is investment
which has the greatest impact on market efficiency in the medium and
long run.
ملخص الجهاز:
Analyzing the effects of market efficiency as one of the pillars of the resistance economy on the economic success of Asian countries Date Received: 1398/09/09 Date Accepted: 1399/07/30 * ـــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــــ Naghmeh Honarvar Homayoun Ranjbar ** Sara Ghobadi *** Abstract Improving efficiency has an impact on the main economic, social, and political phenomena of societies, such as reducing inflation levels, increasing public welfare levels, increasing employment levels, and increasing competitive capacity.
Generally, the results indicate that improving market efficiency in the medium and long term leads to an increase in the economic growth rate, a decrease in the unemployment rate, and finally, an increase in economic success.
The main goal of this research is to analyze the effects of market efficiency on economic success variables (economic growth and unemployment) in Asian countries with a medium-to-high competitiveness index during the period from 2008 to 2018 is through the use of the Panel Vector Error Correction Model (PVECM)1 and two techniques: Impulse Response Function (IRF)2 and Forecast Error Variance Decomposition (FEVD)3.
Following the increase in commodity market efficiency, considering the sub-categories of this type of efficiency, the number of steps, procedures, and days required to start a new business and monopoly decreases, and instead, domestic competition, foreign direct investment, customer orientation, and awareness of buyers' needs increase, the outcome of which leads to increased production, economic growth, reduced unemployment, and ultimately improved economic success (Emami Meybodi, 1379).
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