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Consideration the Effects of Water Sector Investment on Economic Growth in Iran

Norouz Aghajani Tir

,

Farshad Momeni

,

Ganiev Tavarali Boboevich

Norouz Aghajani Tir 1
Farshad Momeni 2
Ganiev Tavarali Boboevich 3

  1. Economics Tajikistan National University, Iran 1

  2. Associate Professer Faculty of Economic Allameh Tabatabaie University, Iran 2

  3. Associate Professer Faculty of Economic Tajikistan National University, Tajikistan 3


Abstract:

This paper studies the causality relationship between water sector investment and economic growth and other sector such as agriculture, industry and mine, services, and petroleum sectors in Iran, using panel data approach, from annual data covering the period of 1980 to 2010. The short-run cointegration estimation support the relationship between our variables. In this paper we show the effects of water sector investment on production function of Solow growth model for this purpose we use econometric method based on Panel Data.The results show low efficiency in water industry. Solow Growth Model for different sectors (agriculture, industry and mine, services, and petroleum sectors) in Iranian economy implies that the elasticity of water investment in agricultural sector is significant, and positive, with the amount of 1.3%. Also results show that the investment effect of water sector for groundwater discharge is about 2.4 percent which is significant. Finally the results show that conversely relationship for surface waters with the amount of about -2.7%.
Contribution/ Originality

Keywords:


Reference:

  1. Ettehad, R., 2002. Evolutions of water resource development in iran, trends and solutions. Articles Gathered in First Biennial Conference of Iran Economy Basic Challanenges of Iran Economy in Decade 2002 Tarbiat Modares University.
  2. Im, K.S., M.H. Pesaran and Y. Shin, 1997. Testing for unit roots in heterogeneous panels. Working paper. University of Cambridge.
  3. Lee, C.-C., 2005. Energy consumption and GDP in developing countries: A cointegrated panel analysis. Energy Economics, Elsevier, 27: 415-427.
  4. Levine, A. and C.F. Lin, 1993. Unit root tests in panel data: Asymptotic and finite sample properties, working paper. Department of Economics, University of California at San Diego. Roomer, David 2003. Advanced Macro-Economy. Translated by: Taghavi, Mehdi, 1st ed. Publisher: Azad Islamic University, Research Unit 1st volume, 2003.
  5. Pedroni, P., 1999. Critical values for cointegration tests in heterogeneous panels with multiple regressors. Oxford Bulletin of Economics and Statistics, 61: 653-670.
  6. Pedroni, P., 2001. Purchasing power parity tests in cointegrated panels. The Review Economic Statistics, 83(4): 727-731.
  7. Pedroni, P., 2004. Panel cointegration: Asymptotic and finite samples properties of pooled time series tests with an application to the PPP hypothesis. Economic Theory, 20: 597-625.

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