همگرايي توسعه مالي و توليد بخش صنعتي در ايران

Convergence between Financial Development and Industrial Production in Iran

The relationship between financial markets and economic growth depends on factors such as financial deepening; fiscal and monetary policies. The aim of this study is analyzing the long-term relationship and convergence between financial development and the growth of industrial sector during 1974-2008. Using ARJDL and ECM methods, the results indicate that there is a long-run relationship between financial development and the growth of industrial sector. Our finding demonstrates the necessity of applying suitable policies to allocate credits and create competitive opportunities in financial markets in order to improve the process of allocating financial resources to the industrial sector.