Development Impact of Non Bank Financial Institutions on Gross Domestic Production (GDP) in Iran(Case Study: Islamic Contracts)

Authors
Saeed Farahani Fard
Majid Feshari
yavar khanzadeh
Kharazmi University
10.18869/acadpub.jemr.5.20.131
Abstract
Financial institution as a non-bank financial institutions, institutions that are active in mediating funds in financial markets. Services are in many ways similar to the services provided by banks. Because the relationship between the development of non-bank financial institutions and Iranian gross domestic production (GDP) seem important. In this context, the main objective of this study was to investigate the effect of non-bank financial institutions in the areas of facilities of GDP contracts with other variables such as per capita GDP and employment effects on the labor force for the period 1999Q1-2013Q4. To estimate the Generalized Method of Moments (GMM) is used to model estimation results indicate a significant positive impact on the development of non-bank financial institutions and facilities with regard to Islamic contracts. The per capita income and employment variables have a significant positive impact on GDP respectively.
Keywords
Non-Bank Financial Institutions
Gross Domestic Product
Generalized Method of Moments (GMM)
Islamic Contracts