چکیده:
The present study aims to determine the effects of financial market development on value added of agricultural sector in D-8 nations from 1995 to 2015 using a nonlinear panel method. The results indicate that financial development with a mild speed (3.16)، after going past the threshold (16.10) of value domestic product) will depart from the first model to the second model، and this is the factor of nonlinear connection in the model. The impact of this variable in the first model is positive. But after going to the second model، the impact will turn into a negative one. As for the inflation، in the first model، it is positive and meaningless، but in the second model، it is meaningful and negative، especially with regard to agricultural value added. Investment and labor in both models have a positive and meaningful impact on agricultural value added. While in the second model their effect is mitigated. This decrease، with regard to increased inflation due to increased financial expansion past the threshold، is comprehensible and logical. Ergo، according to the results of the shoddy performance of financial markets in earmarking and channeling credits، essential steps such as establishing a competitive atmosphere in the banking system of developing countries، selecting the appropriate loan applicants، earmarking the funds between various sectors of agriculture and other sectors، must be taken. Last but not least، the way for agricultural growth must be paved، because this sector is one of the key sectors in economic development of countries.
خلاصه ماشینی:
For this reason, this study was conducted with the aim of investigating the non-linear behavior of the agricultural sector's value added in various ranges of credit granted to the private sector as an indicator of financial development, for the G8 member countries during the period 1995-2015 within the framework of a non-linear panel model.
(2008), and also the study by Ahangari and Kamranpour (2016), point to similar results based on the positive effect of financial development on the value added of the agricultural sector, this study will test another claim based on the non-linearity of this relationship.
In fact, this research, considering the positive and negative effects that financial development has on the economy and macroeconomic variables 1 -Supply-Leading 2 -Goldsmith 3 -McKinnon will follow, with a non-linear approach and using the panel smooth transition regression method, to find the answer to this question: does financial development have the same effect on the growth of the agricultural sector in these eight countries or not?
Shahbazi and Saeedpour (2013) investigated the threshold effect of financial development on the economic growth of D-8 countries during the period 1980-2011 using the Panel Smooth Transition Regression (PSTR)1 model.
Materials and Methods In this study, to examine the threshold effect of financial development on the agricultural value-added of eight developing Muslim countries, including Indonesia, Iran, Bangladesh, Pakistan, Turkey, Malaysia, Egypt, and Nigeria, during the period 1990-2015, a panel smooth transition regression model will be used, the specification of which, inspired by the study of Shahbaz et al.
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