Iran's Economic Diplomacy Priorities: Providing a Quantitative Model of Tools and Variables Influencing International Economic Governance

Document Type : Original Article

Authors

1 Professor

2 PhD Student, Department of Economics, Isfahan (Khorasgan) Branch

3 Associate Professor, Department of Economics, Isfahan (Khorasgan) Branch, Islamic Azad University, Isfahan, Iran

Abstract

Economic diplomacy is the most important legal and political tool to counter sanctions. This study seeks to provide a quantitative model for economic diplomacy aimed at strengthening Iran's economic governance in the region. For this purpose, it uses fuzzy hierarchical analysis method to predict policy priorities and the effectiveness of each policy.
Findings of this study show that in economic diplomacy, the priority is to attract foreign capital (with a coefficient of 0.17). Economic diplomacy should be more tailored to the needs of multinational corporations than governments. The next priority of Iran's foreign policy in the field of economy should be on Iran's membership and use of world economic organizations. This study shows that the management and liberalization of the country's foreign exchange resources is the next priority of economic diplomacy. Having a trade surplus should be the fifth strategy obtained by obtaining concessions, especially tariff, currency and tax concessions for private sector exporters in the destination countries.
The seventh and eighth priorities in economic diplomacy are to strengthen the country's position in the World Bank and the International Monetary Fund. This will happen by strengthening the Iranian representations and strengthening the country's seat in the specialized commissions and working groups of these institutions. The ninth and tenth priorities of economic diplomacy should be to facilitate the export of industrial goods and liberalize the economy, respectively.
Findings of this study provide a list of 25 priority measures of economic diplomacy.

Keywords

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Economic Strategy
Volume 11, Issue 41 - Serial Number 41
September 2022
Pages 145-170

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