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Abstract
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In an era when knowledge and the skilled and educated labor force, innovation, and the usage of advanced technologies are considered as the most important factors of production and economic growth, Iran's single-product economy and its economic dependence on oil income and its negative effects on the economic, social, and political structure of the country have shown that source-based economic pattern could not solve the economic problems of Iran. In the present study, the effects of oil price fluctuations on knowledge-based economy components and Iran's economical operations are investigated. Though this investigation, t is aimed to determine Iran as a source-based country in the knowledge-based module and to provide better solutions for economic policy-making of politicians and to use oil income in order to reach growth and sustainable development.
Methodology: In the present study, EGARCH model and simultaneous equation system were used by applying Eviews and Stata software in order to investigate the effects of oil price fluctuations on knowledge-based components and Iran's economic operation during the years 1380-1393 quarterly.
Results: according to the results of the study, oil price fluctuations and the resulting uncertainty had a negative effect on Iran's economic operation, gross domestic product, and good governance. On the other hand, these fluctuations led to innovations which indicate the governments' investments on oil incomes.
Conclusion: based on the findings of the study, the first hypothesis regarding the negative effects of oil price fluctuations on human development index is rejected. The second hypothesis regarding the negative effect of fluctuations on innovation is rejected. However, the third hypothesis regarding the negative effects of fluctuations on governance index is accepted.
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