مجله توسعه و سرمایه (Feb 2021)
The Impact of Inflation on Economic Growth: A Meta-Analysis Approach
Abstract
Objective: Examining different perspectives on the impact of inflation on economic growth shows a lack of consensus on this issue. Understanding the exact relationship between inflation and economic growth requires experimental studies with a new method. Therefore, the main purpose of this article is to end this disagreement with the help of meta-analysis Methods: The meta-analysis method was used to investigate this issue for the first time. Meta-analysis is the use of specific statistical methods to summarize the results of independent studies to find the most accurate form of relationship between the variables under study. These statistical methods help to summarize different studies and summarize them objectively so that personal opinions do not have a significant impact on this process. In this meta-analysis, 29 studies that had the necessary conditions to perform meta-analysis were identified and their results were analyzed. The terms and criteria of the meta-analysis of this research are: research has been done for developing and less developed countries and Practical extraction have the effect size. Results: During the research process on the effect of inflation on economic growth, among articles, dissertations, reports, etc., according to the set criteria, a total of 5 dissertations and 24 articles with matching topics or relatively high topic similarity and suitable for meta-analysis were selected. According to the funnel diagram, the effect size of the studies does not have a diffusion bias. Due to the dual-tidy arrangement method, the present study did not need another study to be completed. Therefore, the present model does not suffer from diffusion bias and does not need other studies to eliminate bias and create symmetry on both sides of the average effect size in the fan chart. the effect size of each study is measured according to the value of the correlation coefficient of the studies. In all studies except studies (4, 8, 15, 17) in the chart that have the size of non-significant effects, the rest of the studies have significant effect size. Also, to evaluate the significance of the overall effect size of the studies, two methods of fixed and random effect size have been used Conclusion: Also, the results of research on the effect of inflation on economic growth and the identification of those variables, hypotheses and models used in inflation and growth studies showed that the effect of independent variables such as: inflation (31.18%), investment (17.20%) and government spending (9.67%) had the greatest impact on growth. In the study of the studied hypotheses, it was found that among the 52 hypotheses examined, the hypothesis of the effect of inflation on economic growth (55.76%) had the highest repetition among the selected studies, followed by the hypotheses of the effect of government spending and inflation on economic growth (54.57). 11%) and the relationship between inflation and inflation uncertainty on economic growth (9.61%) had the highest percentage among the studies.
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