Department of Economics

This study attempts to extract the new keynesian phillips curve for OPEC and G7 countries and compare the factors influencing inflation between the two groups. The study covers the period of 1995-2017 and the econometrics method used to estimate the model is the Bayesian Panelvar. The results showed that the effect of expected prices on inflation for the OPEC and G7 countries in the first period is positive. but, this effect disappears for OPEC countries after a while. But in the G7 countries, not only does it not disappear, but for some countries it becomes more(Japan) and for some it becomes negative(France).The expected price effect has a more lasting effect on inflation in G7 countries.Also, the output gap has a similar effect on inflation in all OPEC countries, and in the first periods it has a negative effect on inflation, and after a while this effect disappears completely. However, this variable has a positive effect on inflation in almost all countries in the G7 countries in the first period. But, gradually, the effect of this variable on inflation in some countries is increasing(Japan and Germany) and some negative(France, Canada, USA and Italy).The effect of the previous period's inflation on the inflation of OPEC and G7 countries is quite similar. Also, the results showed that the citizens of the G7 countries pay more attention to the expected price in forecasting inflation than the OPEC group, and the people of the OPEC member countries consider the inflation of the previous period more.

Official development assistance is an instrument to help the development of less developed countries in the socio-economic contexts. These aids play vital role in the human development of needy communities by reducing poverty, strengthening infrastructure, and improving the education and health systems. In addition, foreign direct investment is one of the important methods of financing development projects, transfer of production techniques and knowledge and the source of change in management approach in both developing and less developed countries. Foreign aids and foreign direct investment may reinforce each other or affect economic and social development in different ways. Foreign aids and financial resources alone cannot change the development process fundamentally. The efficient and accountable government is an important and complementary factor in enjoying the benefits of this type of resources, while mismanagement in receiving aids and attracting foreign investment leads to continued poverty, unemployment, corruption and the accumulation of external debt. This study examines the impacts of official development assistance and foreign direct investment on human development in 24 less developed countries (LDCs) during 2000-2018. The research model was estimated using random effects using panel data in the Eviews software. According to the results, official development assistance and foreign direct investment have both positive and significant effects on the human development index. Also, the human development index increases, when government effectiveness rises in the selected group. Therefore, LDCs can improve the development process by increasing the government effectiveness and the appropriate spending of official aids and foreign investments.