Investigating the factors affecting the production growth with an emphasis on the components desired by the Supreme Leader (case study of developing countries)

Production growth is one of the most effective factors in improving the country's economic situation, which has been implicitly or explicitly emphasized by the Supreme Leader in the slogans of the year since 2019. The production growth reduces inflation, reduces unemployment, and increases purchasing power, and by strengthening exports, it leads to an increase in foreign exchange reserves, the optimal management of which, leads to a decrease in the exchange rate and stability in the foreign exchange market. Also, by creating more tax revenue for the government, it can largely solve the problem of budget deficit, which is the main problem of developing countries. In the present study, using graphical analysis and the panel data method and focusing on the effects of the variables of human capital, research and development, rent-seeking activities, physical capital, and labor, we have examined the factors affecting the production growth in developing oil countries during the period 2010-2020. To complete the research model, we have also used the variables of foreign direct investment and inflation. The research findings indicate a positive and significant effect of oil rent, capital formation, rule of law and foreign direct investment, and a negative and significant effect of inflation on economic growth. Also, according to the graphical analysis, the positive relationship between physical capital, human capital ,research and development and economic growth and the negative relationship between rent-seeking activities and economic growth are confirmed. Therefore, it is recommended that in order to achieve long-term economic growth, policymakers should pay attention to domestic capacities and take serious and effective measures to strengthen human capital, research and development activities physical capital and rule of law and reduce rent-seeking activities and inflation.