Calibration of Fair Social Discount Rate in Utilizing Iran Oil Resources: An Islamic View Point

Document Type: Research Paper


1 Professor of Imam Sadiq University

2 Ph.D student of Imam Sadiq University


There is a long tradition in economics about the question of whether intergenerational discounting is fair or not. Ramsey (1928) was the first economist that criticized the discounting and mentioned that the just rate of discounting is zero.  In this paper it was tried to calculate the just rate of discounting for Iran with respect to Islamic thoughts. According to Islam, intergenerational justice had been regarded when oil revenue was totally invested in other kinds of capital. So, we tried to calculate the social discount rate for Iran in current situations and after imposing the Islamic condition of intergenerational justice an overlapping generations’ model was used.  Finally, our calculation showed that the value of social discount rate is 0.04 before imposing the intergenerational justice condition and -0.014 after it. Then, it was explained that in current economic situations of Iran, the best social discount rate which can satisfy the intergenerational justice, was an amount between zero and minus one.


Article Title [Persian]

کالیبراسیون نرخ تنزیل عادلانه در بهره برداری از منابع نفت ایران: دیدگاه اسلامی

Authors [Persian]

  • محمد‌هادی زاهدیوفا 1
  • مهدی صادقی شاهدانی 2
  • ابوالقاسم توحیدی نیا 1
1 دانشکده اقتصاد، دانشگاه امام صادق(ع)
2 دانشکده اقتصاد، دانشگاه امام صادق(ع)
Abstract [Persian]

در علم اقتصاد ادبیات گسترده­ای پیرامون عادلانه بودن یا نبودن تنزیل بین­نسلی وجود دارد. رمزی (1928) اولین اقتصاددانی بود که تنزیل کردن را مورد انتقاد قرار داده و تصریح کرد که نرخ تنزیل عادلانه صفر است. در این مقاله تلاش می­شود با توجه به آموزه­های اسلامی نرخ تنزیل عادلانه برای ایران محاسبه گردد. با توجه به مبانی اسلامی عدالت بین نسلی زمانی مراعات شده است که درآمدهای نفتی بطور کامل سرمایه­گذاری شده و به سایر انواع سرمایه تبدیل گردد. بنابراین، سعی می­شود به کمک یک مدل نسل­های همپوشان نرخ تنزیل اجتماعی برای شرایط موجود ایران و برای شرایط بعد از تحمیل قید اسلامی عدالت بین­نسلی محاسبه گردد. در نهایت، محاسبات ما نشان می­دهد که مقدار نرخ تنزیل اجتماعی قبل از ورود شرط عدالت بین­نسلی 04/0 و بعد از تحمیل این قید 014/0- می­باشد. لذا توضیح داده می­شود که در شرایط موجود اقتصاد ایران بهترین نرخ تنزیل اجتماعی که می­تواند عدالت بین­نسلی را تحقق بخشد، مقداری بین صفر و منفی یک می­باشد.

Keywords [Persian]

  • عدالت بین نسلی
  • تنزیل کردن
  • نرخ تنزیل اجتماعی
  • مدل نسل های همپوشان
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