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

Zahedivafa, Mohammad Hadi; Sadeghi Shahdani, Mahdi; Tohidinia, Abolghasem

doi:10.22099/ijes.2014.1564

Document Type : Research Paper

Authors

¹ Professor of Imam Sadiq University

² Ph.D student of Imam Sadiq University

https://doi.org/10.22099/ijes.2014.1564

Abstract

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.

Keywords

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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Iranian Journal of Economic Studies

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

References

References

Volume 1, Issue 2 - Serial Number 2
December 2012
Pages 107-124

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

References

References

Volume 1, Issue 2 - Serial Number 2December 2012Pages 107-124

Volume 1, Issue 2 - Serial Number 2
December 2012
Pages 107-124