خلاصه ماشینی:
"This paper uses a growth accounting exercise to quantify the historical sources of growth over the period 1960–2006, including human capital accumulation and the contribution of Total Factor Productivity (TFP) to growth.
The period 1977–88 witnessed significant reduction in economic growth due to the disorder in the result of the 1979 revolution, the eight-year war with Iraq, the international isolation of Iran, the increased state dominance of the economy, and the dropping in oil output and revenue.
2 percent due to significant progress in economic reforms-such as the exchange rate unification, trade liberalization, the opening up to foreign direct investment, and financial sector liberalization- but also to high oil prices and expansionary fiscal and monetary policies.
Senhadji (2000) relied on Collins and Bosworth’s data, but instead of using a priori value of the share of physical capital, they estimated it for individual countries and then used the regional averages to find the contributions of physical capital, human capital, and TFP to the growth of output per worker.
4. In analyzing GDP growth by source, we found capital to have the most important contribution, followed by quality-adjusted labor, while total factor productivity had a negative average contribution.
In addition, increased domestic investment rate, investment in human capital and oil revenues have strong positive effects on economic growth in the Iran.
3. With respect to the contribution of physical capital to economic growth, Iran’s investment rate—which averaged more than 30 percent during 1960–2006—is already high by international standards, even when compared with the high-growth countries of East Asia."