چكيده به لاتين
Researchers and policymakers have been doing a lot of efforts to find measures that lead to economic growth. Financial development is one of the policies that many economists recommend to achieve growth and development. One of the policies that most economists recommend to achieve growth and development is financial development. On such vision, assumption is that financial development is a motivation for economic growth; So policy makers should focus on creating and upgrading financial institutions such as banks, credit institutions and capital markets. In this regard, many studies about financial development and its effects on economic growth have been carried out, that depend on the financial structure of studied country and time sections, lead to different results.
In this study, in order to investigate the effect of financial development on economic growth, firstly, the financial structure of Iran has been studied. According to previous studies and existing facts, in comparison of two market-based and bank-based structures, iran's financial system characterizes as a bank-based. Therefore, variables that used for measuring financial development of Iran are derived from bank sector variables. Also, due to the weakness of previous studies in the introduction of a comprehensive variable that is capable of explaining different aspects of financial development, in this research for the first time in an effort to achieve this, a single variable for measuring financial development has been developed that include multiple dimensions of financial development.
This research, assuming the positive effect of financial development on economic growth using macroeconomic data for the period of 1980-2017, was carried out by auto regressive distributed lag approach. The results indicate that, unexpectedly, financial development in general has a negative effect on economic growth and there is no positive and significant effect between economic growth and financial development. A major part of the Iran's financial sector is formed by the monetary sector and banks are responsible for this field, it seems that the ineffectiveness of the banking system in the period under review is the main reason for this field, with considering this fact, it can be said that the banks have left their financial inter mediation and financing role, which are their main function, and turned into an economic enterprise.
