بهمن خانعلی زاده

The main objective of this article is to investigate the impact of various financial, economic, and political risks and economic complexity on the development of the Sukuk market in the Iranian economy. The data required to conduct this research based on the variables of the proposed model were used from the Capital Market Central Asset Management Company, the International Country Risk Guide (ICRG) database, and the MIT University website. The data relating to 2010-2022 is seasonal, and REVIEWS 13 software was used. The model estimation results using the Nonlinear Autoregressive Distributed Lag Model Approach (NARDL) show that the negative shock of political risk reduces the development of the Sukuk market in the short and long term. The negative shock of financial risk in the long term has a negative impact on the development of the Sukuk market. The negative shock of economic complexity reduces the development of the Sukuk market in the short term. The positive shocks of political risk, financial risk, economic risk, and economic complexity in the short and long term led to the development of the Sukuk market. Among the three types of risk, political risk and financial risk have the most impact on sukuk market development. The error correction coefficient in this estimate is negative and statistically significant, which shows that 0.42% of the short-term imbalance is adjusted to reach the long-term balance every year.

There are many factors affecting Foreign Direct Investment inflows into the countries. One of them is Special Economic Zones that encourage Foreign Direct Investment inflows and achieve remarkable results in the world. Special Economic Zones are defined in the United Nations Conference on Trade and Development as the regions where production, trade and storage are not limited to time and are exempt from customs and taxes. This study analyzed the relationship between the Foreign Direct Investment inflows of Turkey, the Foreign Direct Investment inflows of the World and the number of the Special Economic Zone types analyzed using the Autoregressive Distributed Lag Method from 1980 to 2019. The results show that Foreign Direct Investment inflows of the World have a positive and significant effect on Foreign Direct Investment inflows Turkey in the long term and the short term. Also, the number of total Special Economic Zone has a positive and significant on the Foreign Direct Investment inflows of Turkey. Foreign Direct Investment inflows of Turkey increase 1.01% and 2.58% in long term and short term, respectively when the increase is 1% in the number of total Special Economic Zone. Moreover in this study, a number of the Special Economic Zone types such as OIZ, TDZ, FZ have been analyzed .